Today In 2022, as the Irish economy continues to grow, the value of homes in Ireland is expected to rise. To take advantage of this, it is essential to understand what factors will impact the value of your home and how you can increase its value.
It is no secret that the Irish housing market has seen better days. The economic downturn that began in 2008 left many homeowners struggling to keep up with their mortgage payments. However, there has been a gradual recovery in the housing market in recent years.
According to RRE Ireland, From 2015-2018, the average house price in Northern Ireland increased by a small amount. RRE calculated the housing transactions index using data on housing transactions and compared it to an initial starting point of 100, which was set at the beginning of 2015. The housing transactions index is now 152.4, meaning that house prices have grown by nearly 52 percent since 2015. In the U.K., the same period saw an increase in house prices of 112%. The following guide provides an overview of the current state of the home market in Ireland as well as some tips on how to increase the value of your home.
Upgrading your home
When it comes to upgrading your home, you can do a few things to increase its value. Make sure your home is well-insulated. This will help to keep energy costs down and make your home more comfortable to live in. You can also upgrade your windows and doors to improve security and energy efficiency. Another great way to add value to your home is by increasing curb appeal. It can be done by adding new landscaping, painting the exterior of your home, or even just power washing the outside. Whatever you do, just remember that any upgrades you make should be in line with the overall style of your home so that it doesn’t look out of place.
Curb Appeal
When trying to increase the value of your home, it is essential to start with curb appeal. This is the first impression potential buyers will have of your home, so you want to ensure it is a good one! There are a few things you can do to improve curb appeal, such as:
- Paint the front door and add new hardware
- Plant some flowers or shrubs in the front yard
- Pressure wash the driveway and sidewalks
- Fix any broken fences or gates
- Add some outdoor lighting
Marketing your home
When it comes to marketing your home, there are a few key things you can do to make sure you get the most bang for your buck. First and foremost, making sure your home is in tip-top shape before listing it on the market is essential. It means repairing any damages, conducting a deep clean, and even making some cosmetic changes to help increase its curb appeal.
You can also take out ads in local newspapers or distribute flyers in your neighbourhood. And, of course, remember social media! Creating a dedicated Facebook page or Instagram account for your home can help generate interest from buyers nearby.
Finally, remember that pricing your home correctly is one of the most critical aspects of marketing -you don’t want to price yourself out of the market, but you also don’t want to give away your property for too little. Work with a reputable real estate agent to determine your home’s fair and competitive asking price.
Negotiating the sale
Assuming you are planning to sell your home in Ireland, there are a few key negotiation tactics you can employ to help increase its value. The first is to be well-informed about the market value of your home and recent sale prices of similar properties in your area. It will give you a good starting point for negotiating with potential buyers.
It is also essential to be realistic about the price you are willing to accept for your home. If you overprice it, you may find it challenging to find a buyer willing to pay that much. On the other hand, if you underprice it, you may end up leaving money on the table. Be prepared to make counteroffers and compromise on price to reach an agreement that works for both parties.
Conclusion
No matter what your budget is, there are ways to increase the value of your home in Ireland. Following the tips in this guide, you can make your home more appealing to buyers and get a higher price when you sell. Keep these ideas in mind as you make improvements to your property, and you’ll be well on your way to getting top dollar for your house.
The Home Insurer Team