The pandemic is a time of uncertainty even for stable markets like real estate. Countless Americans are buying and selling homes this year, and most of them are having personal challenges on this front. However, you can make your home easier to sell in today’s market through planning and strategy. You can also increase its price to ensure that you can get the best out of your investment.
Energy-efficient Home
If there is one kind of home that many homebuyers are willing to buy for a few extra thousand dollars or so, it’s energy-efficient homes. This trend is taking the real estate industry by storm. One way you can increase your property value by two-fold or probably even three-fold is its selling price.
Energy-efficient homes are becoming one of the most highly sought-out homes in the market because the current generation of home buyers are millennials.
Millennials care about the environment more than anything else. Besides that, they also want to save a decent chunk of their earnings for retirement. This is because they’re also the generation that wants to retire by 50 or 60. Now you know these things, let’s talk about what they wish to from energy-efficient homes.
Solar Power
The very first thing in demand is solar power. Solar energy is one of the best renewable energies and cheaper than coal. It’s the most affordable form of renewable energy out there. Many millennials are indeed seeking it out because of this. However, this doesn’t mean that having solar panels in your home will cheapen its value. On the contrary, it’ll help it skyrocket its price.
Smart Systems
Smart tech has been growing exponentially in the last decade or so. It has helped us make our lives more convenient while reducing our power consumption. Many homebuyers are also looking for smart homes or homes with some smart devices.
You can charge any smart device installed inside your home for a premium in today’s current market. They help inflate your home value without costing you too much money. Moreover, it will also make your life more convenient before selling your home. It’s a worthwhile investment, and it’s one that many Americans are missing out on.
A combination of smart systems and solar panels should increase your home’s value exponentially. It’ll also make it easier to market in the current industry, making it an essential option if you’re planning to sell your property this year.
Landscaping
Next in line with the options of increasing your home value is landscaping. Thousands of homeowners upgrade their landscape before they sell their homes. It’s such a common and cheap way to increase your property value that you certainly shouldn’t miss out on it regardless of your budget.
Improving your landscape doesn’t have to be expensive. Adding some new grass or new plants can make a difference. One investment you can also get is to install an automated sprinkler to ensure your plants have enough moisture throughout the day. Many Americans turn into gardeners during the pandemic, which means sprinklers are essential for every backyard. Starting a foundation for a sustainable garden is also a cheap option if you want your property to gain some value. Plant a few tomato seeds, which should garner some homebuyers’ attention.
Your landscaping and backyard are going to make your home a lot more attractive. Much like an energy-efficient home, landscaping can make your home easier to market. Moreover, it increases your face value, and for some homebuyers, this can be an instant purchase. So make sure to invest in your landscaping if you want your property value to increase while also looking good in the market.
Swimming Pool
This is a luxurious option for increasing your home value because it’s pretty expensive to install a swimming pool in your backyard. Still, it’s undoubtedly one of the best additions you have to consider if you want to double your property’s overall price.
Swimming is an essential pastime for almost any American household. Public pools get millions of visitors every year, but they’ve been forced to close their doors since the pandemic began. So many opted to get swimming pools installed in their backyard instead. They know that it’s a good investment option while also being a good lifestyle choice.
However, only in-ground pools can exponentially increase your property’s value. Above-ground pools, especially cheap ones, can’t raise property value in any way because they can easily be dismantled. But in-ground pools are permanent and highly sought out by homeowners because of their cost. So expect an in-ground pool to increase your home value by about $20,000 or so. But they can be pretty expensive, and they can take some time to install, so make sure to make your investment months before you sell your home.
Extensions
Lastly, we come upon extensions. Many home extensions can increase your home’s overall value, but two have been known to be the leading choices when it comes to this: garage or parking lots and patios.
Patios are cheap home extensions worth their weight in gold in today’s real estate market. Because of the pandemic, homebuyers are willing to pay extra for additional recreational space in their home, and patios are the best for this. Expect homebuyers to add a couple of thousand dollars into your home’s value for this extension alone.
An extra garage or parking lot can never hurt if you have the space for it. Many households nowadays own about two to three vehicles, so any home buyer would pay you extra for an additional parking lot or garage in your home.
Increasing your property before selling it is essential for many home sellers. By making the suggestions we’ve discussed above, you can improve your home value by twofold its starting price. They are necessary investments if you want to get the most out of your home.
