Waymon Investments LLC
6 Secrets to Selling Your Home on a Budget
Updated: Jun 3, 2022
When you’re looking to sell your home, you’ll likely encounter a few different challenges. From a lack of interest from potential buyers, to not being able to tap into the value of your home, to a general lack of cash, it can be difficult to get your home ready for the market. If you’re looking to sell your home at a price that you’re comfortable with, and without breaking the bank, these six money-saving tricks can help make your home worth more than its appraised value.
Tackle the landscaping
The first step to selling your home at a good price without breaking the bank is tackling the landscaping. Studies have shown that for every $1,000 spent in landscaping, your home will be appraised at $4,000 more.
If you’re looking to get the most out of your investment and make it worth more than its appraised value, landscaping is a must. This includes everything from weeding and planting grass, to trimming any overgrown trees or bushes. You want to make sure that everything is neat and tidy before putting up signs or taking pictures of the property.
Don’t neglect the foundation
Your home’s foundation is the most essential part of your house. Foundation problems can be expensive to fix, and cause issues for the rest of the house. If you’re noticing cracks or other signs that your foundation may need to be repaired, it may be time to contact a contractor. Taking care of your home’s foundation before putting it on the market will help potential buyers see how well-maintained your home is.
Don’t be afraid to redefine your square footage
If you’re looking to sell your home, don’t be afraid to redefine the square footage. The size of your home will have a huge impact on the price.
For example, if you have a 4 bedroom and 2-bathroom home, but you live in an area where houses are typically much smaller with 1 or 2 bedrooms, your home may not be worth as much as it would be in a different location. But even if you live in an area where homes are typically bigger, that doesn't mean you should inflate the size of your home. In some areas the trend is for people to want smaller homes and that means those living in larger homes may need to downgrade.
Get a professional home inspection
One of the first steps to taking your home to market is getting a professional home inspection. A qualified inspector will come out, take a look around, and point out any issues that need immediate attention. This can help you get a better understanding of what needs to be done, as well as how much it will cost in order to make those necessary changes. The cost of hiring an inspector will vary based on the size and scope of your house, but the initial expense is likely worth it considering how far it could go towards getting you a more saleable property.
Do some DIY home improvement work
By doing some DIY home improvement work, you can quickly and easily add value to your home. Updating the kitchen or bathroom will usually do the trick. Keeping these two areas updated is also important for buyers who want a newer style of home, as well as those who are looking for more energy-efficient appliances and fixtures.
Make your home more spacious
One of the most important things you can do to increase the value of your home is to make it more spacious. Ideally, you should add on or move some walls in your home. This way, it will be easier for prospective buyers to envision their own furniture in your home. This also makes it appear larger than it is and can help give a buyer the impression that they’ll have plenty of room to grow into your home.
To have more control, the first thing you can do to sell your home on a budget is to be willing to compromise. If this means painting the walls a neutral color in order to avoid paint expenses, or only replacing the flooring with laminate instead of hardwood, then so be it. Changes like this are quick and easy and will help make your home worth more without costing an arm and a leg. With just a little research and DIY, you'll be selling your home in no time!