As the market turns around, can you flip your house?
As the local housing market is beginning to turn around, it doesn’t hurt to give consideration to the value of your home. While you may not be planning to move anytime soon, maintaining the value of your property should be an ongoing activity so you’re ready to greet the market with a valuable asset when the time comes.
A kitchen is often considered the centerpiece, so make sure plumbing and electrical fixtures are updated for energy efficiently, as well as making sure appliances, cabinets and surfaces remain clean and are replaced when they deteriorate. You may spend a few hundred to several thousand dollars updating a kitchen, but you can turn a nice profit on that investment alone if your kitchen is up to snuff.
Keep your bathroom clean and pay attention to old fixtures that can stain and succumb to the many biological and chemical forces at work in a restroom. And keep in mind simple replacements like swapping old shower curtains and towels for new can help not only a bathroom’s appearance but also keep down unwanted mold and mildew.
Dens, game rooms and offices can easily be converted into “bedrooms,” if only in name, by adding closet space. While its function can remain whatever you wish it to be, being able to list a three-bedroom home instead of a two-bedroom home on the market will fetch a much better price.
DIY responsibly and make sure you are not prepared to blow thousands of dollars on a new fixture or room you are unfamiliar with. While this does not mean you have to spend an equally-copious amount on a contractor, it is still beneficial to ask for advice and help even from friends if not professionals.
Be sure to reinvest in lights, doors and windows to make sure your house is visually-appealing as well as functional. There are many houses prospective homebuyers look at, and you want to make sure yours stands out. If lighting is dim, both inside and outside, replace with more or brighter figures, and be sure not to keep door frames that have accumulated too much wear and tear.A periodic carpet cleaning is not that expensive and can help prevent far more costly carpet replacement in the future. For worn and stained parts, it is still acceptable to strategically place decorative throw rugs, but this should not be relied upon as a permanent fix as one can easily tell what is underneath.