If you’re looking to increase the price of your rental property or sell it outright, you want to make sure you’re getting the most out of your investment. After all, the point of owning a real estate property is to increase your income. Many projects can increase the value of your home, but you may not want to sink a bunch of money into a property you don’t intend on keeping. Luckily, there are a lot of relatively low-cost tweaks you can make to your property that will ensure you receive the best return on your investment. Here are three tips to consider when selling your home.
Adding a fresh coat of paint to some of the rooms in your home is a low-cost way and easy way to increase the value of your home. Fresh paint can brighten up a dull space and make the room look more open and spacious. Choose neutral colors to appeal to the broadest audience; bright and fun colors will limit the uses others can visualize for the space. For example, painting what you envision as a child’s bedroom a shade of turquoise means potential buyers will only see it as a child’s room and not a home office or guest bedroom.
Stage the property
Hiring a stager may seem like it’s not worth the extra cost when trying to sell a home. However, a good stager makes a huge difference in how quickly your property sells and how much someone will pay for it. Hiring a home stager typically costs around $3,500 to $4,500 a month; the price varies depending on the size of the home. A home that’s been staged stays on the market for an average of six days, compared to the nation’s average of 48 days. A staged home also sells for 6 to 20 percent more than the market average.
Add curb appeal
Making your home look more attractive on the outside to potential buyers will make more people interested in your property. Add some greenery and plants to the outside of your home. Replace your mailbox if necessary. Make sure your lawn and any bushes are well-manicured. Add some outdoor lights and replace or repaint the shutters on your home. These all seem like small details, but it will help your home to look more inviting and welcoming to others. If you have some money to spare, some higher cost projects to tackle would be replacing the siding, repaving your sidewalk or driveway and adding a deck.