Increase the Property Value of Your Fairbanks Home

If you’re planning to sell your home in Fairbanks this year, you’re not alone. The housing recovery is predicted to pick up speed in 2014 with more homes coming on the market over the next few months. Not to mention, spring is typically the busiest time of year for those who are looking to relocate. Once Fairbanks starts to thaw, buyers and sellers will come out of hibernation and begin exploring the Alaskan real estate market in full force. So, what can you do ensure you’ll get top dollar when it comes time to sell? Here are a few improvements you can make that will increase the property value of your Fairbanks home.

  1. Repair all major indoor systems
    Before you spend any money on cosmetic or functional improvements, it’s imperative that all of your major indoor systems are in working order. Making any needed upgrades, repairs, or replacements to your plumbing, heating, electrical, and sewer systems assures buyers that they won’t need to bother with these items in the near future.
  2. Exterior replacement projects
    First impressions are very important, and the exterior of your home is the first thing that buyers will see when they arrive at your property. Invest some of your budget in replacing the garage door, siding, front door, and windows. According to Remodeling Magazine, the ROI on replacing these items is almost 72%.
  3. Add a full or half bathroom
    Move over, kitchen. Bathrooms have stolen the spotlight as a buyer’s focal point when choosing a home. According to the experts at the National Association of Home Builders, adding a half bathroom can boost your home’s value by as much as 10.5%, while building out a full bathroom can add on 20%. On a budget? Improve your existing bathrooms with new fixtures and a fresh coat of paint.
  4. Improve your kitchen
    Though the kitchen has taken a back seat in recent years, buyers still pay close attention to upgrades and improvements. To start, give the room a fresh coat of paint. New cabinetry, fixtures and lighting will all add value, too. If funds are tight, sanding and repainting or staining your existing cabinetry can do wonders for the room’s aesthetic appeal.
Winter is the perfect time to stay indoors and complete (or oversee) a home improvement project. After all, the spring real estate market will be here before you know it! As you start thinking about how to spend your remodeling dollars, be sure to choose a project that will give you the most bang for your buck. The easiest way to do this is to keep the homebuyer in mind throughout the entire process. Once you feel as though your home is ready to compete in the Alaskan real estate market, give us a call. The professionals at Madden Real Estate would be thrilled to help you sell your home in Fairbanks

Wes Madden, CEO/Broker
Madden Real Estate
(907) 452-3000

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