Is it a buyer’s market or a seller’s? According to experts, it’s been a mixed bag this year, and both sides remain at a standoff.
But if you’re one of the fortunate few who’s already locked down your next abode, we have some tips that could help make the process of selling your home quickly and getting the most out of your investment a little less daunting.
Of course, the more money you make on the sale, the more you’ll have to put down on your next home. That means it’s important to capitalize on easy improvements that won’t break the bank.
Wondering if there are any simple improvements you can make before the “for sale” sign goes in the lawn?
Here are seven easy do-it-yourself projects you can tackle to get the best bang for your buck – and impress a potential buyer:
- Clear your clutter. Believe it or not, experts say this simple project can add nearly $2,000 to your home’s value! A full house can distract buyers and make rooms look smaller. So go room by room to clean out anything that isn’t absolutely necessary. Use large trash bags or empty boxes to throw away what you don’t need and donate items in good condition.
- Give key rooms a facelift. Big remodels can be expensive. But you don’t have to completely gut a room to wow a potential buyer. Simple updates like new appliances, countertops, backsplash or flooring in the kitchen can give your room a more modern look. Likewise, even small renovations in the bathroom can equal big returns. Replace an outdated vanity, install new lighting fixtures or add a new tile floor to freshen things up.
- Hit the yard. Good curb appeal has been shown to increase a home’s value between 5-20%. Go beyond the normal mowing, weeding or mulching and try planting shade trees. They can make your home look more desirable as well as potentially cut your cooling costs by as much as 40% if properly placed.
- Grab a brush. One of the easiest yet most cost-effective improvements is fresh paint, which studies show can bump up your home’s value roughly 1-2%. Keep in mind, neutrals appeal to the greatest number of people and look clean and updated—that spells value. And, on average, a gallon of paint costs about $25.
- Improve your energy efficiency. Lower utility bills can help attract potential buyers. Projects like adding insulation, high-efficiency windows, energy-efficient appliances or LED light bulbs can all reduce the energy your home uses. Overall, making sure your house isn’t an energy hog can improve its worth between 1-3%.
- Make changes to help people of all ages. Consider adding features to your home that make it more accessible. That may include installing a walk-in shower or creating a master bedroom on the main floor. These “universal design” elements could increase your home’s value between 1-2%.
- Be smart with technology. Technology evolves fast. But products like a smart thermostat or keypad locks can be useful for years to come. Features like these can help boost your home’s value between 3-5%.
Protection for Your Home No Matter Where You Live
You’ve worked hard to get where you are today. The people and things in your life are a big deal. That’s why we think the insurance that protects them should be a big deal, too.
At ERIE, every homeowners insurance policy comes with a local agent who’s there to help you understand and feel confident about what you’re buying and how it works. And, yes – we offer 100% guaranteed replacement cost* for worry-free coverage that protects you without surprises.
Find a homeowners insurance agent in your neighborhood to request a quote and get the conversation started.
*Guaranteed Replacement Cost applies to dwelling and requires home improvements over $5,000 to be reported within 90 days - not available with all policies and in all states. Coverage of costs to comply with laws or ordinances is subject to limits. Depreciation will be deducted until repair or replacement is made. Talk to an ERIE agent for more information.
ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York). The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.
The insurance products and rates, if applicable, described in this blog are in effect as of July 2022 and may be changed at any time.
Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions.
The insurance products and services described in this blog are not offered in all states. ERIE life insurance and annuity products are not available in New York. ERIE Medicare supplement products are not available in the District of Columbia or New York. ERIE long term care products are not available in the District of Columbia and New York.
Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.
Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.
