It’s a new year, and 2022 is predicted to have plenty of opportunities for homeowners looking to sell their house. With market trends and the wants and needs of buyers changing, the things buyers look for in a home can vary. And if you want to capitalize on these trends, you may need to apply these changes to increase the home value of your property in Florida.
But not all home improvement tips can significantly improve your property’s home value. There’s also a limit to how much your property value can rise. For instance, if you live in a neighborhood where the average house is priced at $300,000, there’s no use getting it up to $400,000 as the neighboring properties affect how far the property value goes. It’s also best to limit your spending on home improvements to no more than 15% of your home’s
With that in mind, here are some of the smart ways to increase the value of your home in Florida for 2022.
Additional Dwelling Units
Whether it’s a guesthouse in the backyard, a loft above your garage with a separate entrance, or even just a spare multipurpose room, additional living spaces are becoming a trend due to the new normal.
One reason is because of the rise of remote working, with many opting to convert extra space into their own home office. Another reason is for those who need an emergency room to quarantine in, in case of a Covid infection. Finally, additional space is becoming popular for those who want to rent out space in their home as an income-earning portion of their property.
Updated Kitchens and Bathrooms
One trend that’s been a staple in real estate is the way updated kitchens and bathrooms can increase property value. You can recoup up to 60% of your renovation budget when you modernize the features in these rooms and fit in more modern fixtures.
Additional Storage Space
Another staple in features that improve property value is extra storage features like a walk-in closet, shed, basement, or walk-in pantry. Additional storage space for kitchens is becoming a bigger want from buyers as more people are opting to stay at home and stock up on food (as buying in bulk is becoming a habit for many) and other supplies.
Improving your property’s landscaping can increase your property value, and not just because of the positive first impression the aesthetic can give. When done correctly, landscaping can also have functional elements.
A well-tended yard can help siphon off groundwater and prevent the water from seeping into the home – a value feature in a state like Florida that’s prone to rain. This can reduce the risk of water damage in the property’s foundation and basement. And during the hotter months, good landscaping can help maintain your indoor temperatures, which can reduce the costs of cooling during the summer months.
Any Basic Repairs to the Property
Rather than going all-out on property features like a swimming pool or Jacuzzi, don’t forget to ensure the basic necessities of your property like plumbing, electricity, HVAC, pest control, and more. Most buyers look for properties they can immediately move into without any of these necessities required on their part. If any of these basic features have an issue that requires repair, this can lower the property value and open the door for buyers to negotiate lower prices.
Sell to a Professional Home Buyer!
These are just some examples of additional features that can increase your property value. However, before you can fetch a higher price for these additions, you’ll need to first pay for these additions either from your own pocket or by taking out a loan. While some have the time and resources to do these changes, there are many trying to sell and get a good price from their home that can’t afford to do even basic repairs.
In case you want a fair price on your property but want to avoid the costs of repairs and renovations, your best option is to find a cash homebuyer in Melbourne, Florida like Anchored Homes that buy properties as is. Our homebuying process ensures you get a fair all-cash offer on your home, minus the costs that eat up your profit when you sell.
Adding features that match the buyer trends can be a good idea if you want to increase the value of your home before listing it on the market. But if you want to skip the costs of repairs and the additional time it takes before listing, your best bet is to sell your home to Anchored Homes. We buy homes as-is and can give a fair price regardless of the condition.
Contact Anchored Homes today to schedule a property viewing.