Market value reflects the price range buyers are willing to pay for homes. Several factors influence the market value of a home, including the neighborhood in which a home is located, the recent sales prices of other, similar homes, and the condition of the house.
Invest your time and money in these home improvement projects to attract serious buyers and put your home at the top end of the market value in your neighborhood.
Groom Your Landscape
A property filled with garden beds, trees, shrubs and walkways may be aesthetically pleasing, but overgrown shrubs, weedy flower beds, cracked walkways and low-hanging branches may lead buyers to think the landscape requires too much maintenance.
Trim all the trees and shrubs, and remove all dead or diseased plants. Cut back the flowers in the beds, reducing the appearance of overcrowding. Add a colorful mulch to fill in the gaps. Mow the lawn and if necessary, replace dead spots with sod. Repair walkways and clean the driveway.
Check the Infrastructure
Buyers look at more than paint color and carpeting in a home. They want to know how old the roof is and if the furnace is energy efficient. They want to know when the last time the air-conditioner was serviced and if there are any issues with the plumbing or electrical. Bring in a professional home inspector to discern any issues with the infrastructure.
Follow through on the inspector’s findings. Keep the inspector’s report and all the receipts for the work done. When you put your home on the market, the agent is able to tell prospective buyers about recent upgrades to the home, giving you an advantage in terms of market value and in negotiations when offers are made.
Update the Kitchen and Bath
Remodeling kitchens and baths is expensive. Investing that much money in a home you’re selling isn’t always practical. Updating these rooms and making them “buyer friendly” is likely a better use of your funds.
In the baths, install a tile floor, choosing a neutral shade. Ensure the fans work and the shower and tub are in good working order. Replace the faucets and repaint or stain the cabinetry. Paint the walls and add a new shower curtain and window treatment.
For the kitchen, add new flooring, choosing a neutral color tile or laminate flooring. Update the cabinetry and hardware. If the cabinetry is of poor quality, replace it. If it’s simply a bit worn, re-stain or repaint it. If the appliances are in good working order, but older, consider offering a one-year warranty on the appliances. Add new faucets to the sink and clear the countertops of clutter. Paint the walls a light, airy color.
Replace the Windows
This is where a lot of people raise their eyebrows. Older homes are stuck with energy inefficient windows installed by the builders. If the home is older than 25 years, you will likely be dealing with rotting wood frames and consistent maintenance. If, the windows are anywhere from 8 to 25 years old, they are most likely some type of vinyl.
Now, vinyl by itself, is not a bad material. That is, if it is 100% pure vinyl, and not recycled. Unfortunately, most builders use recycled vinyl, because it is cheaper.
Installing new vinyl windows with a company, such as Canadian Choice, will not only give you a more energy efficient product, but also a lifetime transferrable warranty. This means, the next homeowner will get the warranty on the windows. In addition, they will inherent lower energy bills. Naturally, new vinyl windows are known to increase the value of homes by up to 2%!
Set the Stage
After the improvements to the landscaping, the infrastructure and the kitchen and baths have been completed, set the stage for potential buyers. Start with such chores as deep cleaning the carpets and scrubbing floors, painting walls and ceilings, and cleaning out the attic and basement.
Remove excess furnishings such as family photographs and personal collections, and reduce the amount of furniture in the family room, living room and bedrooms. The concept of staging is to allow buyers to see what their belongings could look like in the home. By removing those things that make the house exclusively yours, you emphasize the possibility of ownership for others.
For more information, visit http://windowsontario.ca/window-replacement-guelph.