Home sellers can maximize the value of their homes by making smart renovations. These projects can make a home more attractive to buyers and increase its value over time. Still, it’s important to remember that home appreciation depends on many factors outside your control.
Adding a new kitchen, for example, has a high chance of recouping the cost. Other simple improvements can also help.
Make a List of Home Improvements You Can Do
Whether you’re considering selling your home soon or just want to make some upgrades, it is important to focus on projects that will pay off. Not all renovations are created equal; a spa-like bathroom may sound appealing, but it may not be worth the cost when selling your home.
However, a simple landscaping project or replacing worn carpet with hardwood floors will recoup the costs. Additionally, buyers are looking for low-maintenance houses, so addressing any major repairs before you sell can calm buyer fears and help you get a higher appraisal price.
Also, walk around your neighborhood and ask your agent what improvements have added value to other homes. You may be surprised that certain improvements, such as kitchen or bathroom remodeling, are common and can add substantial value to your home.
Get a Free Home Evaluation
While online home value estimators are useful and can give you a rough estimate, the best way to get an accurate value for your home is to work with a Spring Lake Park, MN realtor. They’ll have the local knowledge and expertise to ensure your home is priced accurately based on comparable sales in your neighborhood.
They’ll consider your home’s unique selling features, size, condition, and location. Plus, they can compare your home to others on the market, both recently sold and active listings. This is how Minneapolis realtors are adapting to today’s technology. This information will help you make informed decisions to maximize your return.
Ask Your Agent for a Comparative Market Analysis
A comparative market analysis is crucial for both home sellers and buyers. It provides in-depth information about a property’s value, which can help home sellers set an accurate listing price. It also helps home buyers determine how much to offer on a property.
Real estate agents use the CMA to compare a home’s size, location, and features to similar recently sold homes. They also consider special features, such as pools and finished basements.
They then make adjustments based on the number of bedrooms and bathrooms, square footage, and other factors that affect property value. They typically include homes sold within the past 3 – 6 months as comparables. A thorough CMA can save home sellers and buyers time, money, and frustration.
Create a Marketing Plan
The best way to market yourself is by creating a user-friendly website. This will be the first stop for people who want to learn about you and browse your listings. It’s also important to make it mobile-optimized so potential buyers can easily access it on their phones or other devices.
Another way to generate leads is by leveraging social media. Realtors share videos of their day-to-day activities to showcase their expertise. This helps build trust with prospects and pushes them closer to becoming clients.
Real estate agents can also boost their online presence by organizing neighborhood tours. These tours reveal the history of a neighborhood, which attracts prospective buyers. They can also improve their digital marketing efforts by adding a video message to their emails.