With so many articles explaining how to increase home value, there should be articles to explain how to keep home value steady. Smart property owners maintain the home’s appearance for the family and future home buyers; this thought process is why home value stays the same. This is how homeowners should approach home value.
Pencil in a routine timetable for a home evaluation. Examples are weekly, bi-monthly, monthly, or seasonal (three months). Examine the structure, the exterior, the foundation, and the interior of every room in the house plus the garage, patio, porch, and shed. Financially, save $500 monthly for unexpected repairs. Hire a professional to check the plumbing, drains, electrical outlets, roofing, fireplaces, and HVAC units to ensure everything is working smoothly.
If something’s amiss, how do you combat it? Contact a professional to fix issues immediately. The same goes for just-discovered problems on the roof, outside the home, and inside the home. Repaired issues eliminate the “small problems becoming larger problems when unattended” scenario. The issue will continue to worsen, otherwise. Examples of minor repairs include leaky faucets, leaky pipes, broken roof shingles/tiles, patching holes in walls/ceilings/floors, and filling cracks in foundation.
You purchased the home in magnificent condition, so why should you abandon curb appeal for the next buyer? Curb appeal is like cleaning the exterior to maintain its beauty. It was the first visual glimpse that tempted you to purchase the home. Maintain that curb appeal charm by painting the walls, sweeping the driveway, mowing the lawn, fixing the railings, picking up trash, and adding a new light bulb. Give curb appeal a positive first impression for yourself and online/passerby buyers.
You could hire house cleaners to maintain home cleanliness, but that money is better spent repairing or updating the home. Save money by cleaning the home as it happens. Clean homes age better than an unkempt one. Pick up trash, sweep the floors, mop the floors, scrub dirt off walls, and dust the home. Use green carpet cleaning and spot removers to clean carpets and rugs. Clean appliances, sinks, toilets, shower-tubs, and bathroom tile. Keep the home clutter free to reduce rodent infestation.
Cracks in doorways and windows bring drafty air into the house that’s usually felt during the winter months. While insulating drafty areas won’t increase or decrease home value, it does fall under the “small problems becoming larger problems when unattended” category. Sealing those holes will keep the value the same for a longer period while eliminating unpleasantries in the long term.
The renovation and remodeling process’ goal is to increase home value. Unfortunately, upgrades don’t guarantee a home value increase. In that case, view minor upgrades as a transformation or update from an outdated period to today’s time. Paint can transform the space instantly. Additionally, adding energy-saving appliances, new faucets, and switching hardware will complete the transformation. Nevertheless, if a major renovation is mandatory, focus on kitchens and bathrooms. Buyers care about those rooms more than most rooms.
Homeowners can paint the interior and exterior a bright color but change it back to a neutral shade when it’s time to sell. Neutral colors are a universal choice most buyers enjoy due to it not being loud and vibrant. Buyers can focus on the home’s amenities without distracting wall color. Specifically, neutral colors (black, white, gray, and blue) are more appealing than vibrant colors (orange, red, yellow, and purple). Also, repaint exterior walls every ten years (with fresh primer) and repaint interior walls every five years.
Things like neighborhood crime, boarded homes, nearby construction, and lack of amenities are out of a homeowner’s control. Despite that, homeowners cannot afford to decrease home value in a time where real estate is on the upswing. Do what you can to maintain property value and allow these suggestions above to assist you.