Your Home as an Investment – 5 Ways to Get the Most Money Out of it

Oswald Homes | Luxury Home Builders Perth

If you’re like most homeowners, then you believe that your home is your greatest investment, and taking care of it is a top priority. Fortunately, you can increase your home value by making smart improvements and keeping up with repairs. If you want to sell your home fast and get top dollar, ensure that you prepare it for the market.

Ways to Raise the Value of your Home

Update the essentials

To make your home more appealing to buyers, start with the basics. How old is your furnace? Your water heater? Your electrical panel? While they may not be your top priority, they’re vital to property sales. If the inspection report shows your buyer that the electrical panel is outdated or that your furnace is over 20 years old, they will be more likely to negotiate the price of your home. What’s more, most buyers will walk away if the upgrades seem too daunting. Therefore, to be in a strong negotiation position, ensure that an Aussie Electrical & Plumbing professional updates your home’s mechanicals.

Repaint the living room walls

One of the easiest ways to increase the value of your home is to paint the living room walls. Refresh the living room coat of paint with a shade of gray or light beige color to give your indoor space a neutral finish.

Replace your garage door

If you want to invest in home improvement projects that will generate a high return on investment, you may want to consider replacing your garage door. Replace your garage door with a model that will increase both efficiency and curb appeal. Also, remember to match the door design and color to that of the windows, front door, and trimmings to give it a custom look.

Update damaged or dated floors

Refinishing your wood floors will give you back 100% of your investment, according to the National Association of Realtors. New or properly restored floors can influence the purchasing decision of potential buyers, and also make beautiful listing photos.

Most homebuyers want hardwood floors, and it would pay if you removed the carpeting and refinished the floors. However, if you’re not able to put hardwood floors throughout your home, you can compromise. You can laminate or put hardwood floors in areas like the dining and living rooms.

Make your home smart

According to a recent survey, it was discovered that most homebuyers want safety-enhancing gadgets in their new homes. Some of these safe and smart devices include Carbon monoxide detectors, fire detectors, thermostats, security cameras, lighting, and door locks. However, while smart tech won’t add significant value to your home, it will make your home more appealing. Moreover, buyers who are “techies” will most likely pay more for those items.

Bottom Line

As you prepare your home for sale, decide the home improvement projects to invest in. Although the return on investment will vary, all the above home improvement projects will improve the look of your home and make it more marketable. Also, keep in mind that regular home maintenance will save you more money down the road. 

 

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