If you have been toying with the idea of selling your current home and purchasing a new one, you might want to reconsider. The housing market is presently a buyer’s market, not a seller’s market. This means that while you could probably find a great deal on a new house, selling your current home would cause you to lose money.
If you are looking for a change, you should consider doing some renovations and adding some new decorations instead. Changing your home rather than buying a new one could satisfy your desire to move. Renovating your home is also a good investment, since a house that has been updated will sell more quickly and smaller homeowner loans take less time to pay off.
If you have an older home, energy upgrades will be the most cost-efficient renovations. Energy upgrades will reduce your monthly payments and many locations offer tax credits for energy-efficient home improvement projects. Energy improvements projects include replacing windows, doors, insulation, air conditioning and heating units, water heaters and furnaces etc. Talk to a home inspector to find out which upgrades will benefit your home.
You should also consider renovating your kitchen. One of the easiest ways to do this is to purchase new appliances. You would be surprised by the appeal that a stainless steel refrigerator, gas stove, microwave and dishwasher creates in a kitchen.
Consider re-staining or painting your cupboards. Also consider installing an island or upgrading your sink to a double sink. Replace the countertops with marble, granite, or synthetic stone materials. Purchase tiles and create a backsplash above the countertops.
If you currently have carpet flooring, you might want to look under the carpet to see if there is hardwood underneath. It is extremely popular for buyers to look for original hardwood floors. Switching to hardwood also drastically changes the look of a home.
If you would prefer to take out smaller homeowner loans, consider redecorating rather than renovating. Look through some interior design magazines and pick out a new color scheme for your home. If you are intent on selling later on, you should stick to neutral colors that also fit your personality in order to appeal to more buyers. Paint the interior and exterior walls and doors with a fresh coat of paint. New light fixtures can improve the overall appearance of a home as well. Purchase new bedding, window treatments, accessories and throw rugs that fit within the colors you’ve chosen.
Since you will already be moving things out of rooms in order to paint, go ahead and go through all of your things. Throw away or donate items that you never use to charity. Build or purchase built-in shelves to organize and put away the things that you choose to keep.
Re-do your current landscaping. Purchase new plants and soil and add stone walkways. Repaint your shutters. Place decorative outdoor lighting along the pathways. When you come home from work in the evenings, you will feel as if you are walking up to a brand new house. Go through and fix all of the small things in your home that bother you. Repair wobbly railings, squeaky cabinets, holes in sheetrock, or broken door handles.
Have you opted for fixing instead of buying?