For years I have been hearing about how it’s a buyer’s market. But with rates potentially increasing a full point by the end of this year, I think we may see a shift to a seller’s market rather quickly. Home values are steadily rising and rates, while still low, will most likely start climbing shortly. The selling season will be underway in a few months and buyers will be scrambling to buy homes before the rise in rates.
If you are looking to sell your house then it’s important for you to consider how to maximize the value of your home. Enhancing the interiors, particularly improving the functionality of different spaces, could be one way of increasing the value of your property. You may have big rooms to accommodate a crowd but if the rooms are not functional, then people might get hurt while walking, sitting, or performing any other daily task. A functional interior means you have the necessary space where you can comfortably carry out the most significant actions– designated areas for ironing clothes, doors and cabinets that can open freely, and walking in the house without crushing things. If you think you have less functional space, then this might be the time to take care of it. There are two ways to go about this — you can either bring about changes yourself (think DIY) or you can reach out to experts like Helen Coulston. The latter may be a better option given that they would be equipped with a vast amount of knowledge to improve the functionality of spaces.
That said, don’t get disheartened about your inability to do complex tasks. There are simple changes that you can carry out to instantly increase the value of your home. For that, you can paint the walls, replace the windows, and even remodel your backyard to add an impressive patio or deck. Remember that you only get one shot to showcase your house to potential buyers, and both the curb appeal and updates within the home will play a major factor in how quickly it gets sold and for how much. However, before starting to carry out the improvement, particularly the ones related to home extension, consider taking a boundary survey of your home. This is to ensure that your extension project doesn’t end up trespassing on your neighbors’ boundaries, which can lead to legal battles down the line.
I think curb appeal is often overlooked by sellers when it comes to making updates to the home. Perhaps it’s winter time and the seller doesn’t see a point in sprucing up the snow covered yard. However, even in the winter some items stand out more than others. For instance, a garden trellis, or a patio and deck can make a big difference in appeal to buyers. I’m not one that relishes the idea of power washing and staining a wood deck each year. This is precisely why Futurewood composite cladding is a nice way to add to the outside of your house. Cladding can have the look and sturdiness of wood without all of the upkeep and hassle that comes along with it. As a potential buyer this would be an important benefit for me.
Knowing what not to update is just important of knowing what to update. Homeowners often make the mistake of spending a lot of money in finishing a basement. While this certainly is nice and can add to the finished square footage, it does very little in adding value to the home. If you plan on living in the house forever then by all means go for it, but don’t invest in a basement remodel as a selling feature.