Increasing home value is much easier than you think. Here are some features, you can add and make your home worth selling.
The homes for sale in Nanaimo that sell fast and at the right price are the ones that offer the best value to buyers. Here’s a quick look how value works and some of the home features that offer good value.
What is home value?
Home value is the amount of money you’d like to sell your home for and the price that a buyer is willing to pay at a given point in time. However, different buyers may place more or less value on the same home.
For example, homes for sale in the dead of winter generally sell for less than they would in the summer because demand is lower. Or, a large family places more value on a 4-bedroom home than downsizing baby boomers would.
8 market factors that influence value
Although no two homes are the same, there are some common market factors that influence home value:
How to increase home value
Now that we’ve discussed some of the ‘big picture’ factors that affect value of homes for sale in Nanaimo, let’s cover some specific home features that offer good value. Many of these are easy to do and can increase the value of your home before you know it:
Extra tips to increase your new home’s value
Even if you’ve recently purchased a new home and don’t plan on selling soon, you can still add value to it. Here are three things you can do to increase the value of your new home and make it more enjoyable to live in before the time comes to sell:
#1 Updating the kitchen and bathrooms
Updating in the kitchen and bathrooms adds the most value and provides the greatest return on investment. There are two reasons for this. First, both of these spaces are high-traffic areas that people see and use all the time. Second, because kitchen and bath updates are appealing to buyers, appraisers usually look for updates in these rooms when determining home value.
#2 Maximizing curb appeal
Curb appeal matters because it creates a lasting first impression on prospective buyers and makes them want to see the inside even more. Planting healthy trees, flowers, and keeping lawns neat and trimmed are three of the easiest things you can do to create good value in your home.
#3 Add square footage or open up the floor plan
Adding usable living space to your home will increase its per square foot price. Opening up the floor plan also adds value, even if the square footage doesn’t change. Removing a wall, widening a door way, or installing a kitchen island are all features that today’s home buyers see extra value in.
Key takeaways for home features that offer good value
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