Many homeowners want the value of their house to rise during the time they live there. After all, nearly 70% of homeowners believe their house is their biggest asset, so it makes perfect sense to want to keep your house in good shape. Luckily, making smart improvements and keeping up with repairs are both proven ways that increase your home’s value over time.
So, if you want to build equity, get a better price when you sell, or you just simply want to improve your home, this post will go over some key tips that will help you raise the value of your home.
Improve Curb Appeal and Interior
Curb appeal is a term that means how your home looks from the street. It acts as your home’s first impression when pedestrians or potential buyers see it. An easy way that you can improve curb appeal is by making sure your landscaping is in good order. If you feel like your yard seems a little dull, don’t hesitate to plant some flowers or even some trees to add an extra pop. You can also repaint your front door or garage door if you have one.
Once the outside looks good, on your bathroom and kitchen. If they are outdated, these factors can keep your home from being worth more. This doesn’t mean you have to go all-out. A minor kitchen remodel is enough to add around 80% of its cost in added value, and the same can be said for bathroom remodels. A mid-range remodel with only a few updated fixtures and new flooring can result in a 70% return on investment, and sometimes more.
Keep It Low-Maintenance
No one wants to buy a home and worry about constant maintenance. Because of this, it’s a good idea to replace any major components like the water heater, furnace, or even the roof if you know there are some leaky spots. These fixes can help you get a higher price for your home, or ease your mind knowing they’re fixed.
You can also add value to your home by replacing things that are hard to clean like carpet that stains easily or wood siding. Instead of carpet, you could opt for hardwood flooring, and instead of wood siding, you could swap it out with vinyl.
Make It More Efficient
Energy conservation features can help in adding value to your home. You could install double-paned windows, enhanced attic insulation, LED lighting, and other efficient appliances that will increase your home’s value and appeal to buyers who are trying to keep their energy use on the lower side. If you want to go an extra step, you could even install solar panels on your roof. However, solar panels are a big structural and financial commitment, so their best use is for increasing value over the long term rather than being used for a quick resale boost.
Add Space
Square footage has a massive impact on home value. Bigger homes often bring in higher values, and even if an appraiser doesn’t realize the value of an added space, buyers are still very likely to notice. An obvious route that many people choose is to add a new room, but you can also build a deck out back or finish your basement if you have one.
Make Your House “Smart”
Smart technologies are always beneficial for a house, but safety-enhancing gadgets might be a better choice. Some of the most notable safe and smart devices are thermostats, fire detectors, carbon monoxide detectors, security systems, door locks, and lighting. Adding smart technologies doesn’t always add value to a home, but it will always add more appeal. Smart tech is usually easy to install, and in many cases, you can find them for very reasonable prices.
