How do you add value to your home? Watch this first!
As Realtors®, we get asked all the time about the best ways to add or maximize value to your home. But, instead of just giving a standard list of upgrades and updates you can make to your home, let's talk adding value to your home.
What is Value?
First, let's take a look at the definition of value.
1. the regard that something is held to deserve; the importance, worth, or usefulness of something.
What is the Value of your Home?
When it comes to your home, there are two different types of value:
1. Resale value
2. Value in the sense of personal use and enjoyment.
A home is typically one of the largest investments (if not the largest investment) a person or family will ever purchase and most people will always discuss their equity in the house or the purchase price vs. sales price as the value of a home.
But what about the time spent in the home? What about the birthday parties, get-togethers and family dinners held in the home? What value do those hold?
Clearly, that value is subjective and can’t really be quantified, which is why most real estate professionals or financial advisers don’t discuss it. However, your home is useful to you every single day. So, when it comes to making changes to your home or attempting to add value, it would make sense to create additional usefulness.
How to Add Value to your Home
If you are looking to add value to your home, value that you will enjoy over the next 5-10 years, AND you would love to see some additional Return on Investment when you're ready to sell...
Here are some tips for you to add value to your home:
The easiest way to get the most enjoyment out of your home and resale value is to make updates and changes that withstand the changing fads.
If you need help with what would be considered timeless, consult a designer or look to style choices that have been around for 20+ years.
Utilize your yard space.
Using your back, front and/or side yard(s) as living space is a great way to enjoy everyday life in your home, not to mention it is very appealing to a potential buyer.
Just keep in mind that you will benefit greatly now if you create a low maintenance space. The future buyer will thank you when the time comes, too.
Think deck or patio, built-in bbq, timed sprinklers, and maximized open space. And, if you can have great sight lines from the house to the outdoor space, all the better.
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Love Where You Live, Give Where You Love
We understand that your home is your dream come true. As homeowners, we realize that purchasing a home is probably the most important transaction you will manage. As neighbors, we get that selling a home is perhaps the biggest transition your family will make.
You deserve to love where you live, give where you love, AND when the time comes….sell your home for top dollar with the right Realtor®!
If you need help preparing to sell in 2018 – to schedule a FREE Home Valuation – Contact Us Now!
The Swan Team | OC Real Estate
Love Where You Live | Give Where You Love
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