4 Steps to Increase the Value of Your Home

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If you plan to sell your home, some upgrades increase property values more than others. Here are some renovations that can pay off. 

Rumor has it that any home will sell in today’s market. And while that may be true to an extent, why not try to get top dollar for your property? The truth of the matter can be scary. It takes a potential buyer between eight and 12 seconds to form an impression of your home. That means the wheels are already turning when they walk through the front door. The finding also underscores the importance of curb appeal.

1. Create curb appeal

Anyone who grew up watching television recognizes the exterior of the homes on Leave It to Beaver, The Brady Bunch, and Golden Girls. They’re designed to look like pure suburbia — neatly groomed and cared for. And then, there’s the exterior of the house lived in by the Conner Family of Roseanne fame — dumpy, neglected, and a good representation of the home’s interior.

Life may not be a sitcom, but home exteriors set the mood for what’s to come. After all, it’s hard to imagine someone taking care of the interior of their home if they can’t be bothered to keep up with the exterior.

Ideally, the first thing a potential buyer feels is excitement as they drive up to your home. That’s far more likely if you focus on curb appeal. Here are some ideas to get you started that won’t drain your bank account.

Pull weeds, clean flower beds, and pick up leaves, sticks, and other debris. Wash down the driveway, sidewalks, and any steps leading up to the house.If any children’s toys are out in the yard (front or back), stow those away.Take a look at the front door. If it’s looking a little dingy, give it a fresh coat of paint.Clean the windows — inside and out. Stage the porch with flower pots and inexpensive, bright flowers.

2. Appeal to the nose

While all of our senses are important, smell uniquely influences how we perceive things. If you’ve ever smelled a whiff of something and been flooded with memories associated with that smell, you’ve experienced a “Proustian moment,” named for a French author who described the phenomenon.

According to scientists, it all concerns the brain’s anatomy and how it allows olfactory signals to get to the limbic system quickly. If you want your home to worm its way into a potential buyer’s heart (mind or limbic system), take control of the smells in your home.

It begins with deep cleaning your house, ensuring any offensive odors are gone. Place lavender potpourri in bowls, boil a few cinnamon sticks an hour or two before a showing, or go the old-fashioned route by baking chocolate chip cookies in the hour leading up to the showing.

When people walk into a room filled with lovely aromas, they’re emotionally prone to view the entire house that way.

3. Act like a stranger

Before the house goes on the market, walk through it with a pen and paper. You’re looking for anything a potential buyer might see and think, “I’ll have to fix that as soon as I move in.” For example, if walls are scuffed, a light is flickering, or the toilet is running in the master bath, address those issues. Ideally, you’ll head off minor problems before home buyers have a chance to worry about them.

If you’re afraid you’ll miss something, ask a friend, family member, or your real estate agent to help you create a list.

4. Edit, edit, edit

Rent a storage unit while your home is on the market and clear the house of everything but the necessities. The less “stuff” you have filling the house, the larger the space will feel. The larger it feels, the more a potential buyer can imagine their belongings in each room. Put most of your kid’s toys and any miscellaneous piece of furniture in storage until the house is sold. Empty closets of everything but the essentials. Clean drawers and store away anything you’ll think you’ll need in your next home.

If a storage unit seems like an unnecessary expense, you may be surprised by how much more a buyer is willing to pay for a house that’s not filled to the brim with someone else’s belongings. Some buyers are willing to take out a larger mortgage for a move-in-ready home.

Getting a home ready to sell is hard work, but once those offers start rolling in, you’ll be glad you went to the trouble.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Dana George has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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