Every homeowner wants to maximize value of their home, and in today’s market this is important. According to RE Colorado as of June 2023, the median closed price in Denver Metro area was $599,820 with 4,266 homes closed after 7 days in the MLS. If you are in the market to sell your home there are a couple of quick ways to increase the value.
Consider Energy Upgrades
Partner Colorado discusses the importance of energy upgrades, which are important to Colorado homebuyers.
“Installing energy-efficient windows is one way to help keep energy costs down. Windows can be expensive, but homeowners usually recoup around 90 percent when selling their home. For example, if replacing all the windows in your home costs around $10,000, you’ll get $9,000 back when you sell your home.”
As utility prices are rapidly raising overall homeowner expenses, adding solar panels could increase your homes worth by $20,000 if it is in the $500,00 range. Forbes, has an insightful article discussing incentive, credits, rebates available and costs involved, if you are considering this route.
Kitchen Upgrades A Solid Draw
According to Money, a modern updated kitchen is a solid draw for millennials. They advise not to rip down the entire kitchen but to budget approximately $5,00 to $8,000 to upgrade appliances, counter tops and flooring to create a modern appearance.
Buyers focus on the kitchen as families still center around the kitchen. Ever notice when you have company, they seem drawn to the coziness of a brightly lit, coordinated room that is freshly painted and inviting. So, there is no need to rip out everything, just upgrade a few things and make that kitchen sparkle. A cool way to maximize value!
Maximize Value Thru Adding Space
Upgrade the outdoors, as more and more families are moving their entertaining outdoors. A new deck or screen room can help soak up the Colorado sunshine. Some homes are even boasting outdoor kitchens. If you want to add value, this can possibly be the cheapest upgrade you can offer for visual impact, adding plants or sprucing up walkways can give your home some additional curb appeal. Great fun way to maximize value of your investment.
Don’t want to do an addition but still want to maximize value of your home? Make an attic area a cozy room, maybe additional office space or a playroom. This is a quick, easy way to add square footage to your home. Look at how your basement might become usable space for potential buyers. It makes for an awesome add on and can be quite valuable, functional and attractive.
If you are contemplating selling, but don’t know where to begin, it’s time to call Kathy and Ed Boyle at Katchen Company, they are a resale experts. They can overview, assist, advise and guide you through the process, helping you to prepare your home and maximize the value of your investment.
**See what clients have to say when it comes to how Katchen specialists can help maximize value to a potential sale:
Kathy is one of the most resourceful, respecting professionals I have met. The herculean challenge to close, repair, and sell my mother’s townhouse of 40 years was made doable, long-distance during a pandemic was due to the trust I instilled in Kathy Boyle.
Kathy was continuously supportive and creative as we slogged through a living space that had not been maintained for close to 25-30 years. The professionalism and upgrade connections Katchen Company shared in terms of flooring, and overall upgrades to my mother’s townhouse made the final sale seamless. This was my first real estate sale and I recommend Katchen Company with no hesitations and full trust.”
– Fleur Uptegraft, seller
Here is the most recent Market Trends Report for July 2023