Want to get more money for your home? Of course, you do. The question is where to invest your money for the most disproportionate returns possible. In this blog, I will expose exactly how we invested $5,000 into one of our home flips and got $25,000 more on the sale price and how you can do the same.
Here are our top five investments to get more money for your home.
Investment #1: Paint
The best return on your money invested by far is paint. A fresh coat of paint makes any house feel new, clean and updated. When we go to look at a property to invest in, the first thing we do is see how much work needs to be done. If it’s a complete gut job, then we move on. But if it just needs some TLC, then we get to work.
We decided to put a fresh coat of paint on the entire home and paint a clean white throughout. This took about two weekends to complete, and the cost was around $600 in materials.
Paint is the best return on your money when it comes to home improvements. A fresh coat of paint might transform any house into a lovely, clean home.
Earlier this year, we posted an article titled ‘Does Fresh Paint Increase home value?’ In it we covered a study completed by a HomeGain’s; the survey found interior paint will return 107% of the money invested.
We also covered the most popular colors of 2021 in that article; I will link it below if you would like ideas and color pallets.
Investment #2: Staging
Staging refers to making a property more appealing to potential buyers. It may be one of the most effective and simplest methods to get the most out of your home.
Staging can influence a buyer’s purchase decision since it puts your property in the best light and demonstrates how fantastic it may be if only some effort were made to improve it.
Professional Staging can be expensive; however, if you are willing to put in a little effort or have some taste, you can easily do it yourself.
Here are some quick tips:
– Paint all the walls a neutral color
– Clear off all surfaces, including tables and countertops.
– Put away personal items such as family photos or collections.
– Replace any old or worn-out furniture and fixtures.
Staging is not very financially demanding, nor does it require much time. However, since the first impression is crucial in real estate, it can be one of the most profitable investments for sellers. We also covered in a blog article the step-by-step process to stage your home. I will provide that link in the description below.
Investment #3: Landscaping
Owners continuously look for new ways to enhance their houses and make them stand out. This is especially true when trying to sell or rent a property. A well-maintained front yard can aid you in your endeavor!
When visitors approach your house, they first notice the front of your home. It’s also the first impression you make on a potential homeowner. If you’re searching for simple, inexpensive methods to spruce up your property. Landscaping is a cost-effective way of adding value to your home.
Here are some tips for landscaping on a budget:
- Get rid of any dead plants or debris in your yard.
- Trim the hedges and bushes.
- Pull weeds by hand or use weed killer
- Add mulch to your flower beds.
- Plant some flowers or shrubs.
You can find more tips in our blog article titled. “5 Quick Front Yard Makeover Tips On A Budget” is linked below.
Adding value to your home doesn’t have to be expensive. There are many simple and budget-friendly ways to do it.
Investment #4: Photography
The most cringe-worthy moment for me in real estate is when I see a listing with terrible photos. This is the number one thing that will turn off buyers from your home. If your photos don’t attract the buyer. They will never take the time to request a showing, so your property could miss out on many potential buyers and offers.
A picture is worth a thousand words, and when it comes to real estate, this couldn’t be more true! Good quality photos can make or break a listing.
You might want to reconsider if your realtor takes photographs with their phone. Simple photos could make or break your deal.
Investment #5: Drone Video
Drone video is becoming more and more popular in real estate. Aerial shots give the buyer a completely different perspective of the property. It will also help them understand the layout of the land much better.
If you have a big lot, this is an excellent way to show it off! Buyers are always looking for extra land or acreage. If your home is near any landmarks or has a beautiful view, be sure to showcase that in your video.
Video is ever so becoming a necessity when it comes to marketing your home.
If you hire a professional to take your photos and videos, ensure they are current with the latest trends and technology. As a business, we understand the importance and value a video brings. This is why we offer video services to our clients.
Reach out to us if you are interested in learning more!
Here are some tips for taking good drone footage:
- Get a bird’s eye view of the property.
- Focus on the land and lot size.
- Showcase any nearby landmarks or views.
- Make sure the video is well-lit and clear.
Please contact us if you have any questions or want to learn more about our services. We would be happy to chat.
I hope you all got some value from this blog, and I hope you can put some of this into practice. Be sure to watch how we completely transformed this 1950’s cape cod into a spectacular forever home.
We are always here to help, so please don’t hesitate to reach out.
If you are looking into buying or selling real estate in the Chicagoland area, feel free to call or email us.
Have Questions? Ask The Velasco Reynolds Team!
Give us a call to learn more about local areas, discuss selling a house, or tour available homes for sale.
