Image Credit: Pixabay

selling you home

Are you planning on selling your home? It’s definitely the time to do so. With a huge boom in the housing market, it has been dubbed a “seller’s market”. And with homes selling for far more than their market value, there has never been a better time to sell your home. 

However, if you’re not quite there yet, perhaps this article will be a handy and helpful guide to getting your home on the right track to being able to be listed on the red-hot housing market

Inspect & repair the exterior 

The first thing that any potential buyer will see is the outside of your home. Therefore, it makes complete sense that the outside should be the first thing you pay attention to. Is there any exterior painting that needs to be done? What about other repairs? Does the back deck need attention? Perhaps a new coat of paint or an extra layer of sealant? Is there any cosmetic damage to the exterior walls that needs to be fixed? 

A thorough inspection of the exterior of the space should be completed and any repairs made before listing your home. Your real estate agent and home inspector will be able to tell you what’s necessary and what’s not. They will also be able to help you prioritise what to repair to meet their valuation. 

It may be that a thorough clean is required - amazing results can be achieved with a pressure washer, which you can hire instead of purchase, if preferred. The outside of your home is your chance to make a great first impression, so pay attention to the details, too. Perhaps the front door or garage could do with a fresh coat of paint, or the pathway towards the house also needs cleaning of any moss. Consider adding some pot plants to the entrance - little touches might not directly add value to your home, but if they make it more desirable, it can surely only result in receiving more favorable offers.

Add a pool 

If your ideal target market for buyers are middle-class families, then there’s nothing more enticing than a pool. Whether you’ve got some money to spend on an in-ground pool, or simply want to put up a small plunge pool, the addition of a pool, while being an upfront expense, is sure to add fantastic resale value. You can in fact, tack it right onto the valuation, so you’ll get your money back when the home sells. 

It is important to note, however, that any value added from a pool installation will depend upon the area you are selling in. Properties in lower socio-economic areas won’t attract buyers who can up their offer to account for such luxuries, so be sure that your improvements are in keeping with your target market. 

Updating floors, windows & doors 

You cannot sell a home that has any sort of faults in the windows, doors, or floors. Make sure that these are inspected thoroughly before you list your home on the market. If your floors could use an upgrade, spend the money and do so. 

You’ll also want to ensure that your windows aren’t falling apart - it’s worth spending the money to upgrade to a double-pane with proper insulation and ensure that the sills are stable. Equally, your doors will need to be properly weatherproofed and might need a material upgrade. It’s worth putting the money in here and again, add it onto the resale value. 

Focus on the important communal areas 

The lounge and kitchen areas of the home are the most important communal areas. These should be your focus when it comes to renovations that will add value. You don’t necessarily have to spend an arm and a leg, but if there are necessary repairs: make them. 

Replace any worn-out furniture in the living room and give these areas in particular a fresh cot of paint if required - keeping to neutral tones. Consider replacing light fittings to add to the ambience and salability of the space, too.

When it comes to the kitchen, first and foremost, you must replace or repair any damaged appliances. Just because you’ve put up with a broken stove top hob for several years, doesn’t mean a new owner should. If the whole kitchen is long past it’s used-by date, it may be time to consider replacing it before selling. So long as you are conservative in your spending, a kitchen renovation should add some value upon selling, particularly if it is very old and worn as it.

There are clever ways to revamp your kitchen on a budget, too. So long as it is fundamentally sound in structure and appliances, consider repainting/refacing the cabinet fronts, replacing the handles and upgrading the splashbacks, for example. Making it more inviting will add to the desirability of your home and by making it appear more modern, could add to the value, too.

Don’t skimp on the bathroom 

Bathrooms often get overlooked as a place purely for function, but the truth is that people look to their potential new bathrooms as a place of relaxation and escape. If your bathroom is in dire need of repair, it’s vital to address this before attempting to sell. Set-in mould, rusty old faucets and cracked shower trays will not do. So long as you spend wisely, a bathroom renovation will undoubtedly increase the value of your home. Especially if it is in a significant state of ill-repair, as buyers would then factor the cost of renovating it themselves into any offer they make.

Again, if it is fundamentally sound in condition, consider minor upgrades. These could include adding shelving, plants and mirrors, repainting the walls, replacing light fixtures or adding more tiling, such as half way up the walls all the way around.

Green-ify the home 

One great way to get money back while increasing the value of your home is to add some energy-efficient technology to your home. Things such as solar hot water heaters, or motion-sensor lighting, even the addition of simple rain barrels and filtration systems for collecting rainwater are a great way to save some of the planet, save yourself money and bolster the value of your home in one fell swoop. This is also becoming more important to international investors, with green buildings making up the largest segment of the $231 billion energy efficiency market.

The addition of a heat pump is another great way to increase your home’s energy efficiency and save the new owner’s money on electricity. It’s another thing to do, but you can add the value of the heat pump and installation to the value of the home. 

There’s so much to consider before you sell your home. So it’s important to take a step back and shift your perspective. Pretend you’re a prospective buyer in the year 2021. What are you looking for in a new home? What features do you want, and what are you willing to pay extra for? Putting yourself in the shoes of a new owner is a great way to get ideas about what to do to increase your home’s resale value.

Get in touch if you’re thinking of selling your property! 

At Sims, we provide top-class Residential Real Estate services across Vancouver Island. To find out more about how we could help with your home sale or buying process, click here.