Many young people when they decide to move up from their starter home make many costly mistakes; often in the mistaken belief they can get more for their home.This may be true in part, but what you are unlikely to do is increase the value of your home beyond its average market value.What you can do is make it easier to get your asking price and/or make it easier to sell.
Decorating is often one of the biggest mistakes made.Avoid wallpaper at all costs and if you need to paint, then use neutral colours.You may love your red walls in the family room but to a buyer who doesn’t like red, it could quickly turn them off the sale.
Carpets should be cleaned of course and if they need replacing you have several options.Take a reduction in the offer because the purchaser will have to replace them, install floating laminate floors, or do a serious upgrade to hardwood, ceramic or stone, or cork floors.This will not increase the value beyond the market value but it will make it much easier to get your asking price.
Windows, insulation, furnace, water heater and air conditioning are major factors for resale.If they need replacement, the cost can quickly escalate beyond $10,000.High efficiency appliances will make the sale easier because they will lower the cost of heating and cooling.
Roofing is another big cost that needs to be addressed and this is an area that can increase the sale price although only slightly.If a roof is to be replaced, asphalt shingles will retain the value but addition of steel or tile roofing that could last well in excess of 50 years or more could increase the sale price.
Of course, landscaping will show that a property has been well taken care of.A concrete driveway as opposed to asphalt or gravel will also add value although only slightly.
Regardless of your approach or the reasons for selling, it is best to ask your realtor what improvements will be the most beneficial to your purpose.This should be done prior to listing and will help you decide how much work you actually need to do in order to sell your property and get a good value for it.
Just keep in mind, your house is only worth what the buyer is willing to pay; no more and no less.