It is never too early for you to start considering selling your home. In fact, many real estate professionals will tell you the best time for you to start is before you buy a home. When you are buying a new house, you may be planning to sell it, 5, 10 or maybe even 20 years in the future. Selling it may not even be on your mind when you buy it. But still, there are some things which you should keep in mind when making such an expensive purchase.
While it is important to consider the things you want while buying a home, it isn’t a bad idea to think about its resale value a bit as well. It is a huge investment after all isn’t it?
Even if you’ve already bought your new home, there are a few improvements you could make which would help you increase the price in the long run. Here are some tips to help you:
- Home improvements
When you are browsing homes, you should always look at the least desirable features first. They are the best opportunities to make home improvements. All of your ideas, ranging from paint color to furniture, can really help raise the value of a home. Always try looking homes from the point of view of a restorer. If there is a slope on the lot, could you fix it with a porch or a terrace? If there are just 2 bathrooms, could you add another half bathroom somewhere? How do you turn the imperfections in a home into assets?
- Kitchen and bathroom renovations
If the kitchen and bathrooms of a new home are cramped or uninviting, you should always consider the cost involved with renovating them as compared to the amount of money which you will save by buying the house in such a condition. Even the smallest of fixes such as fresh paint, new cupboards, new tiles, etc. can help raise the value of your home drastically. Remember that the kitchen is going to be scrutinized the most by any future buyers. The bathrooms are the next place they will visit and finally the master bedroom. Use these rooms to maximize the value of your home.
No one likes wallpaper in their homes anymore. The designs are usually dated and no one wants to go through the trouble of taking it off themselves. This is the perfect opportunity for you to turn a potential problem on its head. By simply removing the wallpaper from the walls, you will be able to raise the value of your home significantly. Don’t forget to add a fresh, neutral coat of paint onto the walls after you remove the wallpaper though. The neutral color will make it easier for you to attract more buyers since they will find it easier to imagine themselves living there.
At the end of the day, remember, it’s your house and you need to feel comfortable while living in it above everything else. So don’t go out of your way renovating your home and inconveniencing yourself if you only plan to sell it after 5 years.