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Boost Your Big Island Home's Property Value
Before you list your home on the Big Island for sale, it's smart ot see if there are ways to can increase its value. This doesn't mean you have to embark on a major renovation or remodeling project; with the right stragegy and understanding of the market, you can boost your resale value with some simple projects.
We can help you understand what your buyers will be looking for, and how to increase the appraised value of your home so you can get the maximum benefit from selling your home on the Big Island. Keep reading for tips to get you started, and reach out to us any time for more personalized suggestions to prepare your home for sale.
The question on most sellers's minds is:
Which items will add value to your home and help with resale when the time comes to sell?
The answer is: “Only the ones that future buyers will also want and be willing to pay for.”
As a general rule, it pays to choose functional updates over cosmetic changes, and the finishes and features you choose should be neutral to appeal to a wide range of potential buyers. Taste and current trends can also affect the value of an update; unusual colors or features that have a limited appeal can ultimately decrease from your home's value. So, as you plan your projects, remember that all of them should be done in a way that will appeal to the majority of your potential buyers.
These are some of the projects you can choose to increase your resale value and appeal:
- Update your kitchen and/or bathrooms: Whether you need a minor or major remodel, updating the kitchen or bathrooms in your home will yield a high return on investment. Stay timeless with your updates, keeping broad appeal in mind. Even a partial update can go a long way as new kitchen and bathrooms are at the top of many buyers' wish lists.
- Increase usable space: If an addition fits your budget and timeline, consider leveraging some of your equity to increase the usable space in the home. Add an extra bathroom, upgrade or expand your kitchen and/or master bedroom suite, add more closet space, or even convert an unused space to a more functional space, like a spare bedroom to a home office or basement into the ultimate hangout space.
- Lighten and brighten your rooms: If your home features bold paint colors or paint that has seen better days, repainting is a great use of your time and a minimal investment. Paint rooms white or choose a light color paint to neutralize your space. You can also add skylights, windows, or French doors to bring in more natural light and make the home feel fresher and more spacious.
- Revamp the exterior. Updated landscaping will draw in buyers before they even walk through the door. In Hawaii, outdoor living space is nearly equal to indoor space because it is usable all year round. Keep your shrubs, trees, and grass trimmed and tidy. Add a splash of color with vibrant plants or by painting the front door an eye-catching color. You might also consider adding a focal point like a flagstone walkway or a water feature. Consider adding comfortable seating, shaded areas, and even an outdoor kitchen to maximize the enjoyment of Hawaii's beautiful climate.
- Add smart home or home automation features: Explore home automation options, allowing residents to control various aspects of their home, such as lighting, security, and climate, through their smartphones or other devices.
- Build an Ohana unit: If zoning regulations allow and you have the time and budget available, consider adding an Ohana unit or guest cottage. This provides additional living space and can be an attractive feature for buyers seeking multi-generational living or rental income potential. It will make a dramatic impact on your home's resale value.
- Take care of exterior maintenance and repairs: Attend to any exterior repairs before listing, including issues with roofing, siding, and decks. Hawaii's tropical climate can be cause more wear and tear than other parts of the country, so ensuring the structural integrity of your home is crucial.