If you are thinking about selling your home this year, it’s likely that you’re also looking at ways that you can add value. Adding value to your property will ensure that when you do sell it on the market, you make a profit rather than a loss. In other words, you need to do what you can to guarantee it sells for a lot more than you bought it for. We say a lot more because you should always see some level of profit as short of a total disaster, properties tend to grow in value. However, there are some mistakes that you can make when you’re trying to increase the value of your home. Some of these errors will do nothing while others can actually cause the value of your home to drop. Let’s look at this mistakes you must dodge.
Doing All The Work Yourself
It’s not a smart move to handle home improvements with DIY. Why is this? Well, it’s unlikely that you’ll have the knowledge or expertise necessary. That can lead to simple improvements becoming massive messy issues. Some jobs are more complicated than they seem. For instance, you might be thinking about changing up the lighting in your home. Now, if you want to replace light fixtures that’s not too tricky, and most people can handle a job like this but changing up the location of lights requires rewiring. This is always going to be complicated and difficult without some help. While this may add to the cost, it will be well worth it if it ensures quality.
Completing It On The Fly
It can be fun to complete a random property renovation, but if you want to add value, this isn’t the best way. By not having a plan, you might fail to get much of anything done. Or, you could fail to get everything completed in the available time. On top of that, you might have issues with budgeting. Let’s face it, if you don’t have a plan, it’s easy to go over budget in some areas and end up with nothing to spend in others. This is particularly true when you’re renovating a complicated room like the kitchen. If you look at a kitchen remodeling guide, you’ll always see advice on planning ahead.
Focusing On The Wrong Areas
Lastly, there are two areas of the home that you should be focusing on if you want to add value. These would be the kitchen and the bathroom. While it is certainly possible to add some value with other rooms in your home, it’s just not going to bring the big increases. A kitchen renovation, for instance, can add as much as twenty percent to the value of your property.
You also need to make sure that you’re focusing on the things that buyers really want. For instance, while it might seem like a great idea to add something unique like a hot tub, you have to remember, this is going to turn a lot of buyers off. Instead, you should be adding something that buyers do want such as better insulation. A recent report suggests 90 percent of buyers are eager to find an eco friendly home.