Over the past couple of years, the housing market across the US has been operating at all time highs, however, now that interest rates are rising many homeowners are questioning whether they’ll be able to sell their home fast, and still get top dollar for their property.
While it’s true that rising interest rates are causing some home sales to fall through, the good news is that it’s easier for homeowners to make their properties shine by investing some effort into upgrading their property. If you’re not sure about where to start with upgrading your home, read on to pick up a few tips.
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Invest in outdoor amenities
Over the past couple of years, homeowners, their families and friends have increasingly wanted to spend more time outside. One frequent way homeowners have enhanced the outdoor experience is by installing outdoor kitchens. These come in a variety of types ranging from entry-level ones (those that are premade and consist of a countertop and quality grill) to the extravagant (e.g. containing wine fridges, marble countertops, and more).
Although outdoor kitchens require a bit of effort to implement, they typically boost home values by an estimated $6,156 to $9,751. On a related note, outdoor fireplaces also are in demand, showing a value increase of 72% from $3,337 to $5,753.
Choose the right flooring
Great flooring is an essential component of any home on the market because it signals to buyers that the home is well maintained. If your floors aren’t in good condition, then buyers will likely question whether the home has other significant shortcomings.
Since replacing all the flooring in a home is generally an impractical expense, many homeowners focus their efforts on the entryway and the main living areas. The former is important because it’s one of the first things buyers see when visiting your property. The latter is significant because that’s where the home’s occupants spend the most time.
Bedrooms, laundry and utility rooms, and guest bathrooms generally aren’t a top priority for flooring refinements because they aren’t the focus of the home.
When evaluating flooring options, hardwood flooring is generally more attractive to buyers because it’s easier to maintain and can be more hygienic. If you already have carpet in your home, if you can get it to a point where it’s free of stains, then you don’t need to worry. If you have a worn and stained carpet, however, then replacing it with a hardwood floor can be a worthwhile decision
You don’t have to do this alone
One of the great things about real estate is that while it’s a complex field, you don’t have to pay upfront for quality advice. Top real estate agents work on commission meaning that when you work with one they’re only paid after your home sells. Since real estate agents know the ins and outs of their territory, you should speak with one because they’re incentivized to provide quality advice on the upgrades that are most effective in your region. They also handle most of the work associated with selling your home so you can focus on living your normal life.
