When you come to sell your house, you might be in the position that it is worth a lot less than it was when you originally bought it. This could be due to the market crashed, or it could be because you have not looked after the house.
If the house has fallen into disrepair, then you should not even attempt to sell it unless you are prepared to take a loss on the price of the house. You should only put the house on the market once you have done some repairs on the house and made it look respectable again.
If the market has crashed and it is not your fault that your house is not worth much anymore, then there are things that you can do to up the price of the house.
Keep in mind that these are things that will cost you money, but the money that you earn on the price of the house will make it worth your while. If you think that you will only make back what you have put into the house, then it is still worth doing.
This will be because the house will sell faster. If you do not make the changes, then the house might sit on the market for a number of years and you will be stuck in limbo. If you want to move to a better house, quick, then it is recommended that you invest and make the changes seen below.
- Conservatory – Conservatories add to the price of the house because they effectively add another room onto the house. In some markets, you will be able to increase the number of rooms listed and this will inflate the price. In other markets, you will have to list the conservatory as a conservatory, but it will still increase the cost. You will not be using this conservatory, so you do not have to have it designed to suit you. Just pick the cheapest conservatory on the market if you want, it will increase the amount of profit that you will make on the house when it is sold. If you want, you can pay a bit more for a better conservatory, but you can not ask the estate agent to put the price above the evaluation just because you paid more for the conservatory. The downside of the conservatory idea is that you might lose value on the house if you do not have a big back garden, because you will be losing land. If your garden is big enough, then it should not matter.
- Pool – One of the best ideas to add value to your house is to add a pool to the back garden. Yes, you are probably thinking well that will mean a loss of some land as well, but there is a purpose to a pool and it is considered a luxury. If you live in a hot climate then having a pool with a lot better for the new owners, than land. If you have the money (around $ 25,000 +) then it will be worth it. It will add more than double to the value of the house. You can find a company who will be able to do the work for you. They will design the pool and arrange everything for you. It looks like it will be a lot of work for you, but the most work you will have is contacting the company. Once the pool is done, you might just want to stay there anyway.