SELL your house should bring you a huge salary.
The median home price today is around $400,000 and the average home value has more than doubled over the past two decades, according to Federal Reserve data.
The windfall you get from selling your home should pave the way for your next major financial goal, whether it’s a new home or your retirement.
When you list your home on the market, there are many things you can do to ensure you get the best value for your property.
In addition to general upkeep and upkeep, sprucing up your home a little before potential buyers see it can help boost your selling price by the thousands.
On the other hand, you could be costing yourself a lot by making small mistakes when selling your home.
And thanks to HomeLight’s real estate expert opinion survey, we know which mistakes can be the most costly for home sellers.
Do not repaint the front door
Some real estate agents recommend painting your entire home before listing it, but a more cost-effective and still eye-catching alternative is to simply tackle the front door.
The fresh coat of paint on the front door helps make a good first impression on buyers, according to home improvement contractor Andrew Wilson of the website Contractoradvisorly.com.
“Really all you have to do is buy the primer and a can of paint which can cost anywhere from $50 to $100,” he said.
“While the increase in value varies, it’s not uncommon for it to increase the value of your home by $200 to $2,000 or $3,000 because an exterior door is one of the things people notice first in a house.”
When choosing a door color, it’s important to remember that darker colors will help cover any imperfections in your door.
Meanwhile, light colors will help the door stand out more.
Do not convert a space into an office
If you don’t have a room in your house set up as a home office, it may be worth converting a space into a workplace to attract potential buyers.
According to HomeLight’s Fall 2021 survey, 60% of top real estate agents said buyers ranked the home office as a top priority.
Adding a home office can increase the value of your home by over $10,000.
With working from home being more popular than ever, it’s no wonder homebuyers appreciate having a workspace in their new home.
You can opt for the expensive option of expanding or adding a new room to your home, which could add around $50,000 in value, but can cost up to $80,000.
Not opting for deep cleaning
While you’re likely to tidy up your home a bit before you sell it, investing in a full wall-to-wall cleaning has major benefits.
According to HomeLight, the cost of a deep cleaning, including carpets, appliances, and floors, runs between $200 and $400.
However, HomeLight realtors say you can get almost five times the return on investment from heavy cleaning.
That could mean adding over $1,000 more to your home’s value.
Even if you hire professionals, you will still make more money from the sale than you typically spend on cleaning.
Not maintaining your lawn
A well-landscaped home has a significant price advantage over a home without landscaping.
With that in mind, it’s no wonder that 94% of agents from the National Association of Realtors recommend boosting your home’s curb appeal before listing it.
This increase can range from 5.5% to 12.7% depending on the type of landscaping and the original value of the house.
Some fairly inexpensive and easy ways to improve your lawn include trimming your overgrown shrubs, sodding the yard, and adding more flowering plants.
Melanie Musson, renovation expert at Clearsurance.com, told The Sun: “If you can turn a dead lawn into a healthy, green lawn, you’ll instantly add a few thousand dollars to the value of your home.”
Do not use smart devices
By installing devices such as a smart thermostat, smoke detector and security camera, you can increase the value of your home by 5% or more, Ms. Musson added.
She said: “The purchase of these three appliances will not cost more than a thousand dollars and will make your home more attractive, sell faster and increase its value.”
The Sun also explained the mistakes homebuyers make when buying a home.
Plus, we’re revealing the home improvements you’re not allowed to do yourself – and some of them might surprise you.