Home value is a moving target, especially in the Bay Area, where real estate is hot, hot, hot! Because of the extreme competition (and thus very discerning buyers), a custom plan is crucial to getting the best price on your home if you’re planning to sell anytime soon.
Whether you’re looking to upgrade some spaces in your home, improve your curb appeal, or need a refresher on the current trends in the market to best position your home so that it stands out among the competition, we’ve got you covered.
In this article, we’ll share with you our top tips on how to increase home value for your property in advance of a sale.
Work With The Right Real Estate Agent To Maximize Home Value
These days, particularly with the low interest rates, buyers are motivated and ready to buy. Given the low inventory, buyers are willing to pay a premium, but they are also extremely picky and want to make sure they’re getting the best value for their new home.
That’s why, when thinking about selling your home in such a competitive market, it’s important to work with the right agent for you and your goals.
Without a doubt, the experience and background knowledge that professional realtors bring to the table is second to none when it comes to home improvement and maximizing the value of your home. Realtors, like our team at the Joe Dickerson Group, have been helping clients in the local area for decades in all areas of the home buying and selling process.
Real estate agents are well versed in the local market and can help you to improve the quality, curb appeal, and luxuriousness of your home while staying within your budget, all while remaining within the scope of regional or localized design tastes for maximum home value and profit.
In addition, given the nuances of Oakland and East Bay pricing strategy, you’re going to want an experienced realtor on your side to help you list your home at the right price when you’re ready to sell.
How An Experienced Real Estate Agent Can Help You
The first time you sell a home, it can be challenging to know where to focus your attention to get the best return on your investment. Do you focus on the kitchen and bathroom, or do you put your energy toward the exterior painting and landscaping?
With the help of a realtor early in the process, these concerns can evaporate as quickly as they present themselves, as you’ll be able to increase your home’s value quickly, efficiently, and with confidence.
An experienced realtor can make sure that you avoid any novice mistakes you may have made. Eliminating these issues from the process of selling your home is crucial to getting the best value for your money, which will of course translate into more purchasing power when buying your new home or furnishing it with high-quality amenities, furniture, and decorations.
A real estate agent is the perfect ally during this time, especially for those who are new to the market in their area. You’ll likely rely on a realtor to handle the logistics of the sale anyway, so bringing one on board early to take on the improvement work just makes sense.
You’d be surprised how much a realtor’s skills can boost your home value and ultimate sale price—it’s a surefire way to get your money’s worth throughout the entire process.
Focus On Energy Efficiency To Maximize Home Value
Energy efficiency is a common priority among homeowners. Adding in new windows or installing solar panels can offer a buyer a number of high-quality upgrades that aren’t standard fixtures in the average home in your neighborhood or community.
In Oakland, for example, many homeowners are getting serious about the environmental impact that their lifestyle and home are making on the world around them. In addition, those moving across town or into the city from beyond its limits often share in the ambitious goals of environmental protection.
Installing solar panels on your home is a great way to reduce the carbon footprint that your home makes on the surrounding community and thus increase the value of your home. This is an attractive draw for new buyers and even first-time homeowners who want to prioritize their environmental impact for the good of the community.
However, this isn’t the only benefit that solar panels and other energy-efficient installations provide to a home and its residents. Energy-efficient and energy-producing fittings can have a dramatic effect on the amount you pay each month in electricity costs. By reducing your bill alongside your home’s carbon footprint, you’re not only protecting the environment, but you will also increase your home’s value substantially.
These upgrades are truly a win-win, and many realtors suggest replacing old windows (which can start to fail around the fifteen to twenty-year mark), a sagging roof, and other quality of life updates that cut at the heart of creating a truly energy efficient home.
Add Additional Space To Your Home To Increase Your Home’s Value
Another winner in the renovation space is the addition of new rooms, garage space, or an ADU (accessory dwelling unit) that make the home bigger. A larger home is the perfect solution for a growing family—or for one that’s gotten tired of coping with working from home in a cramped kitchen as a result of the coronavirus pandemic.
Additional square footage is always a winner when it comes to increasing your home value. Price per square foot can be a major factor in determining your home’s value. This means that the larger your home is, the more it can potentially sell for.
Deriving a price per square foot is a little more complicated and relies on the previous alterations to the interior and exterior of the home. Still, as a rule of thumb, larger homes with greater square footage are generally able to command a higher price, especially in a post-pandemic world where flexibility in working from home comes at a premium and can substantially increase home value.
Additions are excellent for large families as well as those with complex family units and frequent visitors. Those working permanently from home benefit greatly from the addition of a bedroom that can be used as an office. And others with in-laws that come to stay through the winter months love the ability to provide a guest room with all the amenities.
No matter what particular needs may come along with a new owner, added room for a growing family, work, or simply breathing space for activities and relaxation is a welcome bonus that many homes in a neighborhood simply won’t feature.
An extension immediately recasts your home as a standout from the rest of the homes nearby. This is because developments are built as a group, and all the homes in a neighborhood are often based upon the same floor plan and layout design. Adding space to this initial design takes your home up a notch and makes the place a commodity within the community.
Thus, if you have the ability to convert your garage space, add an ADU, or otherwise increase the square footage in your home, you will have an almost guaranteed way to increase home value.
Are You Looking To Sell Your Home Or Increase Home Value?
Boosting your home value begins with the help of a realtor and ends with renovation projects that will boost your home value over the long term. Many homeowners seek out these improvements early on in their time in the home because this gives the family the longest possible time to enjoy the amenities, yet others choose to improve their space specifically to increase home value before listing the property.
If you’re looking to sell your home in Oakland, Berkeley, or the East Bay, we’re here to help. Call or text us anytime at (510) 995-0035 or click here to get started.
