How to Add Value to Your Property in a Down EconomyDecember 3, 2011
Many people who would like to sell their home, but don’t have to sell in a specific timeframe, get frustrated after marketing their home in a down economy to no avail. The Boston luxury real estate market is more challenging to navigate now. I find myself giving this advice to my clients pretty often: Price your property at the current market rate (based on comparable sales), not at what you think your house used to be worth before the real estate bubble burst in 2006.
If your personal finances allow flexibility, you could wait to put your Boston home on the market. In the meantime, begin adding value to your property and boost your sale price when the economy picks up. There are many ways to add home value without going overboard with reconstruction projects and unnecessary expenses. Give your home a quick “face lift” by upgrading the fixtures and appliances to reflect new products in the modern design scheme. High end appliances and fixtures make a huge difference in buyer perception.
A few other ideas include, creating a cozy family room/den if don’t you already have that designated space, and upgrading the furniture in your Boston home if it appears dated. Updated furniture can transform your property dramatically, automatically giving your living space a fresh look and feel. And as an added bonus, you get to take the new furniture with you after the property’s sold.
These are many other changes you can make to increase property value without having to dip deeply into your pockets. In the meantime, you can enjoy living in the newly refreshed house while waiting for the right time to market your property.
Interested in what properties are on the Boston luxury real estate market now? Browse my top listings and contact me for additional details.