Brokers Tell All: Ways to Boost Home Value

Now is the time for homeowners to invest in their homes as the housing prices continue to rise.

With these great tips from veteran real estate professionals, homeowners can capitalize on the value of their home whether they are looking to complete several improvement projects, selling now or in the future.

1) Create Space

Buyers are embracing a wide open floor plan nowadays and anything that opens up the space and creates a sense of flow in the house can generate positive feedback from potential buyers.

More space can be created by knocking out a non-structural wall or even by removing a kitchen island. For the price of a few hundred dollars, homeowners can transform the feel of their home. According to Kristin Wellins, senior manager of Program Development for ERA Real Estate, buyers are into big spaces.

2) Let The Light In

According to a survey conducted several years ago, lighting noticeably enhances a home's appeal. A real estate professional from California, Robert Bailey says that dimmers create a mood.

Sun tubes also known as sunscoops, light pipes and tubular skylights are less expensive than framing in a skylight. This can create natural light in a home which can make a home bright.

3) Maintenance of Home First

Before splurging on a fancy kitchen upgrade, it is a good idea for homeowners to take care of the basics such as insulating the attic, inspecting the furnace and spec tic system, replacing or repairing leaky windows etc.

According to Jessica Gopalakrishnan with HomeGain, a real estate search engine database, spending a few hundred dollars on certain things could actually increase the value of a home by a few thousand dollars. She mentioned that people are often surprised about that they don't actually have to put in a lot of money to see a big difference.

4) Going Green

According to research published by The Appraisal Journal, it is estimated that energy savings add twenty times the annual savings to the value of a property. According to a Seattle real estate professional, energy savings make a home more desirable. If maintenance and repairs need to be done, replace equipment and systems that are energy efficient.

5) Floor Upgrades

Ninety-four per cent of real estate professionals suggest spending some money on floors. For an estimated average investment of $600 to $900, real estate professionals report that the return in value comes in at up to $2,000.

Reference:

http://www.thisoldhouse.com/…/…/0,,20247552_20558021,00.html