The COVID-19 pandemic put a monkey wrench in many people’s economic plans, and the housing market was no exception. Now that people have a body of knowledge for carrying on life’s activities during this health crisis and states are beginning to gradually reopen, home sales in Washington state are also picking up. If you are looking to sell your house in the next few months, there are some steps you can take to increase the value so you can realize capital gains when the sale goes through.
- Select the right real estate agent. Your agent should be your advisor during the process of selling your home. Be sure to partner with an agent who knows your area and market. For best results, hire an agent plenty of time before you put your house on the market. Your agent will be able to pinpoint improvements that will net you a return on your investment.
- If you are willing to spend money on interior improvements, focus on the kitchen and bathroom – especially the master bathroom. Buyers often zero in on the kitchen and its features and appliances. New, sleek faucets are going to catch their eye. More than ever before, the kitchen is the social center of the home. The good news is that even minor upgrades to the kitchen is likely to yield a high rate of return. The same goes for the master bathroom.
- Increase your home’s curb appeal. First impressions are key, and the first impression your house will make on a prospective buyer is all about the exterior and landscaping. You especially don’t want your home to look drab compared to the other houses in the neighborhood. You don’t have to worry about wasting money on a fresh coat of paint or flowers planted by the front door – these are sure ways to justify upping the asking price.
- Increase the energy efficiency. If you are wondering how to make your utilities run more efficiently and lower monthly payments, check and see if your utility company offers free audits. Ways you can increase efficiency without seeking the advice of a professional is by replacing or sealing windows and doors, insulating your attic, or installing smart-home technology.
Conclusion
Depending on how much money you want to spend on increasing the value of your home, you need to carefully consider which improvements will net you the highest rate of return. One investment that is sure to be fruitful for you is the investment of a good real estate agent and effective closing attorney. When the time comes to sign all those papers, please consider The McMahon Law Group; you can call us today at 360-893-2527.
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