Ways to Increase the Value of Your Moreno Valley Home
Are you considering selling your Moreno Valley home? It’s a great time to do it! Whether you are preparing for an upcoming move or looking to increase the ROI of your most-valued asset, there are certain things you can do to maximize the value of your home.
From upgrading fixtures and appliances to sprucing up curb appeal, these 7 tips will give you ideas on how to get the highest return on investment when it comes time to list.
Let’s look at how small investments can turn into big gains as we explore ways that homeowners in Moreno Valley can increase their property value.
The Moreno Valley Real Estate Scene & Current Trends
In recent years, the real estate landscape in Moreno Valley has experienced a remarkable transformation. As we delve into the data of September 2023, we find that the median home prices have not only shown stability but a noticeable uptick, reflecting a 1.9% increase when compared to the preceding year.
This substantial surge has catapulted the median home price to a remarkable $530,000, unveiling a promising trend for both buyers and sellers alike.
Homes are now changing hands at an even quicker pace. In September 2023, the average time a home spends on the market decreased to just 35 days, compared to 40 days the previous year. This remarkable decrease shows that there’s a growing demand for homes in the area. Many interested buyers are eagerly looking to make Moreno Valley their new home.
Just a heads up, the number of homes sold this September was lower than last year. Only 98 homes were sold compared to 145. There could be a few reasons for this, like the ongoing pandemic or economic conditions. But no worries! Moreno Valley’s real estate market is still going strong and has lots of potential.
Moreno Valley Migration & Relocation Trends.
If you’re contemplating selling your Moreno Valley dwelling, it’s imperative to grasp the migration and relocation patterns in the area. This knowledge can be a game-changer when it comes to marketing your property and drawing in potential buyers.
Recent data reveals that 19% of Moreno Valley home seekers were actively exploring the option of moving out of the area between July and September 2023. This means that a majority of prospective buyers (81%) are still looking to remain within the metropolitan vicinity.
But where are these potential buyers hailing from? Across the nation, only 5% of property seekers are entertaining the idea of relocating into Moreno Valley from outside metropolitan areas. The top three metro areas from which individuals are considering moving are San Francisco, Chicago, and Washington.
Conversely, a whopping 81% of Moreno Valley’s house hunters are determined to stay put within the metropolitan area. It appears that the majority of homeowners in Moreno Valley prefer staying put rather than relocating to distant locations. The top three destinations in their sights are Las Vegas, Bakersfield, and San Diego.
7 Effective Strategies to Up the Value of Your Moreno Valley Home
Now that we’ve dissected the prevailing real estate situation in Moreno Valley and migration trends, let’s dive headfirst into the actionable strategies you can employ to augment the value of your cherished abode:
· Curb Appeal Counts
First impressions matter, and your home’s curb appeal sets the tone. The exterior is the initial point of contact for potential buyers, so it’s pivotal to create a favorable first impression. Tending to simple tasks like maintaining your lawn, adding colorful plants or flowers, and addressing any visible wear and tear can significantly elevate the perceived value of your property.
Moreover, consider adding unique touches to help your home stand out, such as a fresh coat of paint or an updated front door. These minor alterations can exert a profound impact on the overall appearance and allure of your home. According to Redfin, a well-kept exterior can add up to 5% to your home’s value, making it a worthwhile investment in the long run.
· Minor Home Makeovers
Another efficacious approach to upping your home’s value is by implementing minor renovations. This doesn’t necessitate a colossal renovation project. Simple updates like replacing outdated appliances, applying a fresh coat of paint, or modernizing fixtures can work wonders in enhancing the overall appearance and value of your residence.
Focus your efforts on areas that potential buyers scrutinize keenly, particularly the kitchen and bathrooms, which are known to be key selling points. Investing in these minor upgrades can yield handsome returns.
· Energy Efficient Upgrades
In today’s world energy efficiency is the most viable factor to play a positive part for the global ecosystem. While everyone being conscious of the environment, it’s a no-brainer to embrace energy-efficient upgrades.
Did you know that homes with energy-efficient features can have a positive impact on the environment and even fetch higher prices? According to a study by the National Association of Realtors, these homes can sell for 2-5% more compared to those without such features.
· Create A Stunning Outdoor Oasis For Your Home
Boost its value by designing a functional outdoor space. With Moreno Valley’s amazing year-round weather, why not take advantage of it? Set up a patio or deck where potential buyers can easily imagine themselves relaxing and hosting guests.
Consider incorporating landscaping or hardscaping elements like a fire pit, outdoor kitchen, or pergola to make the space even more enticing. A functional outdoor living area can also expand your home’s square footage, further driving up its value.
· Stay on Top of Maintenance
Regular maintenance might not seem glamorous, but it’s pivotal in preserving your home’s value. Neglecting maintenance can give rise to costly issues down the road, which inevitably diminish your property’s worth.
Keep your Moreno Valley residence in tiptop shape by scheduling an annual inspection of your roof, HVAC system, and plumbing. Regular checks for leaks or water damage can prevent larger, more expensive problems from emerging. Additionally, staying on top of routine tasks like painting, gutter cleaning, and air filter replacements can help preserve your home’s value.
· Embrace Smart Home Features
In this tech-savvy world, technology has seamlessly woven its way into our lives, adding convenience and efficiency to our homes. As a Moreno Valley homeowner with an eye on increasing your property’s value, consider incorporating smart home features.
Smart home features encompass devices and systems connected to the internet, allowing for remote control. They not only bolster energy efficiency but also add a dash of luxury and convenience, making your home more appealing to potential buyers.
· A Fresh Coat of Paint
Want to enhance the value of your home in Moreno Valley? It’s as easy as giving it a fresh coat of paint! This simple upgrade can make a big impact on potential buyers.
According to Bankrate, painting both the interior and exterior of your home can yield an average return on investment (ROI) of 1-2%.
Conclusion
To sum it all up, we’ve explored several strategies that can significantly elevate the value of your Moreno Valley home. These include upgrades and renovations, enhancing curb appeal, decluttering and staging your home, and keeping up with maintenance.
But remember, increasing your home’s value isn’t solely about physical changes. It’s equally crucial to keep an eye on the real estate market in Moreno Valley and make well-informed decisions based on the prevailing trends and demand.
Superior West Property Management Can Help You Find the Home of Your Dreams
We provide Riverside property management services to help you find the perfect neighborhood for your lifestyle. With our experienced and knowledgeable team, we can provide insight into each area and give you the information you need to make an informed decision to lease or sell your property.
Contact us today to get started on finding your dream Moreno Valley neighborhood
