Are you looking to sell your home and increase its net sale value? In our previous blog, we discussed some key steps you can take to get your home ready for the market and attract potential buyers. In this blog, we’ll take a closer look at some specific examples of investments that can significantly increase the value of your property.
Improve Lighting
One often-overlooked aspect of home preparation is lighting. You can add new fixtures or replace existing ones to brighten up your home and make it more welcoming to potential buyers. For example, you could replace outdated overhead lighting in your kitchen with recessed lighting or modern pendant lights. This can not only brighten up the space but also create an updated look. Additionally, you could add a dimmer switch to your living room to create a cozy ambiance for potential buyers during evening viewings.
Updating Appliances for Increased Value
Updating appliances can be a significant selling point for potential buyers. Modern, energy-efficient appliances can save energy and make your home more appealing. Let’s say a new dishwasher costs you $1,200 upfront but is designed to use significantly less water and energy than your previous model. Over a year, the new dishwasher is estimated to save you $200 in water and energy bills.
Landscaping
Investing in a well-manicured, attractive landscape can significantly enhance your home’s curb appeal and value. According to a study by NAR, investing in landscaping can recoup an average of 100% to 150% of the cost in increased home value. For example, investing $5,000 in landscaping could potentially increase the value of your home by $7,500 to $10,000.
Adding a Lanai or Patio
Adding a lanai or patio can enhance your outdoor living space. These outdoor areas provide additional living space and are perfect for enjoying Guam’s tropical weather and beautiful scenery. With a well-designed lanai or patio, you can create a comfortable and inviting space perfect for entertaining, relaxing, or family time.
Boosting Listing Value with up to a $5,000 Investment
Investing up to $5,000 in high-impact improvements can significantly increase your home’s net sale value. Upgrading countertops, adding a fresh coat of paint, and enhancing outdoor living spaces can make your home more modern and appealing. For instance, upgrading your old countertops to granite ones can make your kitchen or bathroom look more modern and increase the value of your home.
Final Thoughts
Making high-impact improvements to your home can significantly increase its net sale value and attract more potential buyers. These investments can also help you recoup a significant portion of your costs in increased home value.
Following the tips in our previous blog and the examples discussed here, you can create a space that stands out in a crowded market and achieve your home’s highest possible selling price. Contact us for guidance on how to get the most out of your home sale.