People may tell you that this is predominantly a buyers market and it is true, especially considering the low interest rates and the fact that more and more houses are going on sale or going into foreclosure. However, it is not all doom and gloom out there for sellers. With the right amount of work on your property, you too could make your home recession proof and thereby be able to increase the value of your home and asking price for your property. Here are some ways in which you can make your home recession proof and increase home value.
Increase Value of House – Make Your Home Recession Proof
By increasing the market value of your home, you will not only make your home more appealing to buyers but also make it recession proof by preventing it front depreciating in value. Here are some ways in which you can increase home value.
Security Systems
This might sound a bit strange but installing a security system in your house can not only help reduce your insurance premiums, but at the same time can also help with the increase in the value of your property. This basically sends out the message that you as a home owner have taken steps to take care of your property and it also saves the buyer the additional expense of having to install one themselves as it is already a pre-fit with your property, thereby adding to the market value of your home.
Landscaping
Prior to entering your home, the first thing people see is the landscape, your garden and the upkeep of it so a little landscaping can go a long way in adding to the value of your home. By investing just a little amount of money into your front lawn, garden or just the general upkeep of your property, you could put yourself well ahead of the other houses on the street trying to rope in buyers as well. In the case of property people do judge a book by it’s cover. As a seller you must ensure that you have taken care in the maintenance of your property, in order to be able to justify your asking price.
Interiors
When it comes down to trying to be able to sell your house in spite of all the doom and gloom in the market place, it is up to you to make sure that you have done enough to ensure the upkeep of your home and thereby increase home value. Peeling off paint, water leaks, falling upholstery, all reduce the value of your home. Make sure that you have repaired these or have had a contractor come in and do it for you prior to putting up for sale on the market. In addition to this there are a few more things that you might need to look into. Buyers can be very fussy about things like carpets, kitchens, bathrooms and flooring. Try to ensure that the carpets are mouldy, stained or plain worn out. In addition to this you will also need to make sure that the bathrooms and kitchens are appealing. If you feel that you are not the best person to repair or replace them speak to your local contractor and try and get him to do you a quote for the renovations. It is important to remember that these renovations are indeed value adds to your property will make a big difference when it comes down to selling your property on the market.
In addition to the above mentioned points factors such as location, distance from public amenities, infrastructure and also play a valuable role when it comes down to ensuring that your home is recession proof and ready for sale.
Reference:
- What Makes A House Recession Proof - MSN Money
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