With real estate prices soaring in recent years, it is increasingly harder for first time homebuyers to get their foot on the property ladder. After countless hours spent saving for a down payment, searching for properties, and finally moving house, you want to make sure that when you are eventually ready to sell, the property value has increased and you are making a sound return on your investment. Whether you are looking to sell now or in a few years’ time, it helps to know what specific items or features can increase (or decrease) your property value. Read on for 10 easy and affordable changes you can make in order to fully realize the potential value of your property:
1) Paint.
You’d be surprised at what a lick of paint will do for a property’s desirability! Freshly painted walls look clean and bright, while a neutral colour scheme throughout the house is universally appealing. Paint is one of the most cost effective ways of updating your property, so grab a couple of rollers and get busy!
2) Kitchen.
Small cosmetic updates to the kitchen can go a long way with potential buyers. Update kitchen cabinets, worktops, or even faucets that are looking a little worse for wear. The kitchen is one of the most important rooms in the house and a dated or dirty kitchen can often be a deal-breaker with buyers.
3) Outdoor space.
A well-maintained garden shows that you care about the property and have looked after it properly. Mow your lawn, trim your hedges, and pull out the weeds. If you are planning to stay in your home for a long time, consider planting a tree or hedge in your yard. When correctly positioned, a mature tree or hedge can provide shade (cutting your cooling costs) or can act as a visual barrier to a busy street beyond.
4) Curb appeal.
Add valuable curb appeal to your property with attractive planters, outdoor lighting, or a new mailbox or front door. The outside will be the first thing people see when coming to view your home, and you only get one chance at a first impression!
5) Keep it clean.
No potential buyer can envision living in a grubby, dusty home. Get rid of the cobwebs, grime, and any garbage lying around. For a really intensive deep clean to get into all the nooks and crannies and make your home shine, consider hiring a cleaning service.
6) Declutter.
Tidy and declutter your home before any viewings. By removing excess clutter, you will give your home a clean, minimal look with the impression of more space.
7) Bathroom.
Much like the kitchen, potential homebuyers can be put off by an old-fashioned, dated, or grubby bathroom. Take the time to make some minor cosmetic improvements to refresh a tired bathroom. These could include a bigger project such as new flooring or tiling, or replacing the toilet or sink, or could be something small such as changing the faucets or lighting.
8) Update old fixtures.
Look at your lights, ceiling fans, sockets, and switches. Replacing certain fixtures with energy efficient ones will not only improve your home for you while you are still living there, but will be viewed as a positive by any potential buyers later on.
9) Flooring.
Your floors can suffer a lot of wear and tear over the years, and the thought of moving into a new home and having to replace all the carpets or laminate flooring can really deter buyers. Replace any worn or dirty carpets, and freshen up hardwood where needed to reinvigorate your home and provide a pleasing look to buyers.
10) Repairs.
Stay on top of regular maintenance and repair work. Don’t let the odd jobs pile up over time, as this will just cause a headache further down the road. A small repair in each room may not seem like much, but to a potential buyer these can add up to give the impression that your home has been neglected.
If you require any assistance selling your property, or learning more about the current Ottawa real estate market, please do not hesitate to contact our team of experienced RealtorsⓇ today.
