The market for residential properties in the USA is currently in favor of sellers because of the steady demand for homes. However, the specific market situation may change depending on the region. For instance, in Holland, Michigan, home prices have gone up by nearly 6% and a remarkable growth in both sales and listing prices is expected there between now and 2023. The market is also highly competitive, scoring 91 out of 100. On average, a listed property here can sell in just 5 days.
Still, if you’re a seller in Holland, MI, you’ll need more than just favorable market conditions to guarantee you get the best price for your home. This is where some functional and aesthetic remodeling projects come in. A few improvements can greatly increase your home’s resale value. Additionally, the demand for renovations to homes is booming. Nearly $377 billion was spent on renovations by American households in 2021.
Increasing the value of the property is the second most common justification for spending money on improving different elements in a home, according to recent statistics. The following renovations were also among the top five:
- Refinishing the inside flooring
- Installing new wooden flooring
- Increasing the home’s energy efficiency
- Adding rooms for habitation in basements, and
- Changing out closets
A house in Holland, MI, has an average time on the market of 5 days, showing that homes are selling rapidly, but if you want to get the best prices, you must carry out particular remodeling work. To mention a few, entire or complete kitchen remodeling, increasing the amount of usable space, and bathroom remodels in Holland Michigan are examples of this.
Keeping these details in mind, here are some tips for raising your home’s overall value:
1. Increase the covered square footage of your home
Buyers value a property that makes the most use of the land, which is where it is located. Of course, constructing a rear and front garden is a great idea, but adding guest rooms, additional bathrooms, or storage sheds can also increase the property’s resale value. Due to the rarity of properties with an existing mother-in-law bedroom, most Michigan brokers suggest creating one extra.
The home’s functional square footage can be increased in a number of ways. Pricing might be as low as $8,500 for a laundry room or as much as $100,000 for a modern suite with an attached bathroom, depending on the function. When constructing an addition to your home, talk to your neighbors about the type of area that would be ideal.
2. Add more smart solutions to the house
The world is moving towards tech-savvy solutions, and as a result, environmental preservation is becoming more crucial. Residential properties are a good example of this tendency; owners are increasingly favoring practical solutions that are efficient in terms of sources of power. A simple upgrade, like an automated thermostat, can increase a home’s value in the eyes of potential buyers.
Modern roofing materials with built-in solar panels can now also power your residential home, thanks to substantial technological advancements. These panels are a long-term investment, despite the fact that they might be pricey. As a homeowner, you can also install traditional solar panels, which aid in the home’s transition to energy independence. All these upgrades are investments that could generate large profits when you sell the house.
A simple choice for affordable energy-saving renovations is smart appliances for homes. These electrical gadgets can adjust their temperatures to meet demands anytime, using less electricity and lowering associated costs. You can also boost the insulation in the house for improved energy efficiency.
3. Invest in deep cleaning of the house
Naturally, a clean house will fetch a higher asking price as and when you list it for sale because humans gravitate toward tidiness. Whether you intend to sell the home furnished or unfurnished, comprehensive cleaning, organization, and clutter removal will improve the home’s appeal to potential buyers. By nature, people are drawn to order and cleanliness.
You’ll have the option of hiring local, reputable cleaning services or handling the job yourself. Cleaning services have the necessary equipment to complete tasks that occasionally you might not have on hand.
4. The exterior of the house is also worth an investment
A home’s appealing exterior immediately piques the curiosity of a potential buyer. As they say, first looks really are the last impression. No matter how meticulously you’ve prepared the area, if potential buyers pull into the driveway and all they see are overgrown bushes and a house with a cracked facade, they may not consider touring the interior because their decision is made there and then. It’s a definite no!
Therefore, whether you make significant or little improvements, make sure to spend on improving the house’s curb appeal. You can book professional cleaning services to help pressure wash and steam clean pathways, trim the hedges, and adorn the façade with attractive plants or lights.
To make more significant changes, but only if it’s not too much of a hassle, you may expand the building with larger windows or more glass balconies. In this situation, reschedule a meeting with your property manager.
5. Repaint the house
Painting or wallpapering, two of the most common home remodeling operations, unquestionably significantly increases the property’s value. Even old exteriors and interiors may look modern and new with a fresh coat of paint, and it doesn’t cost much to do so. The home’s worth can be swiftly increased by an adequate amount with an inexpensive paint makeover to cover the expenses of renovations.
Even while it may seem tough to increase the resale value of your property, there are a number of methods that are not only affordable but also extremely successful in reaching this objective. Even though you can find all the information you need online, talking to an expert like a real estate professional or estate manager can help you reduce your alternatives and make a more advantageous and sensible decision.