Increasing Home Values In A Competitive Market
According to real estate experts, new businesses and rapid population growth in the state of Utah are influencing the high demand for housing. There are some important things to consider when looking to market your house in Utah’s competitive market.
Rob Howe, a residential loan officer at Zions Bank, said home improvements are the best place to start.
“A home is always one that will appreciate over time,” Howe said. “In my opinion there’s not a quick way to gain value unless you invest substantial value to the home. Just starting to do some small improvements on the inside of the home or even on the outside can bring you a quick way to get that home marketable and ready to sell.”
Howe said even if you’re not looking to sell your home, improvements is always something to consider.
“You get to enjoy that improvement whether you think you’re going to be there long term or short term,” Howe said. “Not only bring you satisfaction as a home owner but I get to enjoy this while I live here but then maybe down the road you want to sell it can add that value to that home and maybe the potential buyer of the home if you sell it. Anytime is a good time to do some improvements.”
Before you jump into renovating a home, Howe said research is an important factor to include when planning home improvements. Look at the cost and how much value the renovations would add to the home. He said there are even websites that determine if the cost for renovations would actually add value to the home.
“It’s always good to do your research,” Howe said. “That’s the main thing I’ve seen as people start to do improvements whether they be small or they’re going to be doing a main renovation to their home is to do some research, look at your budget, you don’t want to overextend yourself and get into a situation that may be a little bit more challenging financially.”