There’s really only one word to describe the current housing market in Cleveland: HOT. It’s truly a seller’s market, with newly-listed houses getting snatched up by eager buyers practically overnight. This is a trend that’s actually sweeping across the nation, with home values up nine percent year-to-year.
If you’ve been thinking it’s time to sell your current home, whether because your family is growing and needs more space or because you’re ready to downsize to a more manageable option, now is definitely the time. However, it might be a seller’s market, but you still want to make sure you’re getting the most bang for your buck when you list your home.
The Best Ways to Increase Home Value
If it’s a seller’s market, why should you be concerned with making any changes to your home? Well, for that same reason! Because the market is so hot, you might be faced with paying slightly more for your dream home right now. And that means you’ll want to make sure you’re getting as much for your current home as possible, so you can put that money into your new home. However, you should focus only on the upgrades that provide the biggest return on your investment.
Here are the top five upgrades that can increase the value of your home:
- Make it energy efficient. The average American spends over $2,000 on home energy every year, and letting potential buyers know your home is energy efficient can definitely increase your profits when you sell. Focus on adding energy-efficient lighting, replacing drafty windows and doors, or upgrading to energy-efficient appliances that will stay with the home.
- Make it smart. Smart home technology is all the rage these days, and you can bet potential buyers will be looking for these upgrades in a home. Most smart tech isn’t very costly, and it can add a lot of appeal to those buyers. Consider swapping out your old thermostat with a smart thermostat, for instance, or adding smart door locks and lighting.
- Add some curb appeal. First impressions are everything, and if your home looks drab on the outside, some potential buyers may not even consider checking out the inside. Paint your front door an eye-catching color, clean up the flowerbeds, power-wash the driveway and siding, and stain the back deck to keep things clean and appealing to buyers.
- Focus on the kitchen. As far as upgrades, the kitchen is still truly king. You don’t need to rip out cabinets and knock down walls to add a modern look to your kitchen, either. Consider painting the cabinets, adding an updated tile backsplash, swapping out the faucet, and replacing hardware to keep the upgrades in your budget.
- Keep it neutral. You might love that lime green wall in your living room, but potential buyers might be turned off as they imagine how their own belongings will look next to it. And, sometimes it’s hard to see past a simple thing like paint color. Painting the walls a more neutral color, like today’s popular grays and beiges, especially in the high-traffic areas, helps appeal to buyers of all ages.
If you have any questions about making your home more energy efficient, the team at Efficient Heating and Cooling is ready to help! If you’re in the greater Cleveland area, contact our team today! Or, give us a call at 216-663-6462.