7 Meaningful Ways to Add Value to Your Home
Your home is likely the most valuable asset you own, so it would only make sense to get as much out of it as possible when the time comes to sell. According to Statista, the average gross profit made from flipping a home in 2018 was $65,000. But you can increase that amount significantly by making the right improvements.
If you’re looking to sell your house in the near future, there are many ways to quickly increase the value of your property. If you’re just planning on selling your home a few years down the line, it’s important to ensure that any investments you make into its value are something you can benefit from for as long as you stay.
This way, you can improve your quality of life at home while also ensuring that you get more for it when you leave. With this in mind, we’ve put together a list of 7 meaningful ways to add value to your home.
Apply a Fresh Coat of Paint
Once you’ve picked up a some painter’s tape, a roller and a few brushes, you’ll only need to spend around $25 for a gallon of paint. Despite the low upfront investment, a new coat of paint will go a long way in making any room look fresh and clean. Stick to modern, neutral tones to appeal to a wider demographic of buyers.
Upgrade Your Security
A recent crime report found that 75% of homes in the US will be victims of burglary within the next 20 years. Having an effective and reliable security system will not only boost the value of your home, but also make it much safer for the duration of your stay. The chances of your property being vandalized from burglary will drop in the process.
Consider investing in a modern security system that provides features such as cameras, alarms, sensors and mobile access to surveillance. Some home security systems packages include additional services such as emergency response and roadside assistance, giving you more bang for your buck.
Reduce Energy Consumption
Energy efficiency is a major selling point for modern homes. Depending on your budget, you have a number of options here. If you’re willing to make a bigger investment, consider installing solar panels. Those with smaller budgets can opt for simple changes, such as installing LED light bulbs and Energy Star-rated appliances.
Get rid of Popcorn Ceilings
Popcorn ceilings can be significantly detrimental to the value of your home. Fortunately, removing them is a pretty easy DIY project that doesn’t take much time or money. Keep in mind that some popcorn ceilings contain asbestos, however, so consulting a professional might be a better option.
Increase Visual Space
While you can’t make your property physically larger, you can increase its size visually. For example, you can install mirrors in smaller rooms to give the illusion of more space. Also, remove any large curtains or draperies and install blinds or vertical shutters for a more modern, slimmed-down look that also lets in more light. Consider installing skylights and removing any elements that are blocking natural light from coming in.
Swap out Your Carpets
Carpets are a bit of an eyesore these days. They can make a home feel dusty, dirty and outdated. Prospective home buyers are also more interested in homes that have wooden or tiled floors. They’re easier to clean and can make a space look more modern. If you have enough time on your hands, consider taking this up as a DIY project to reduce costs.
Update the Heating System
Older homes tend to have outdated heating systems, or none at all. Either way, this can be detrimental to the value of your home. Central heating systems almost always provide a great return on investment and, if you plan on staying for a while, make waking up on cold winter mornings much less painful.
In addition to installing a new system, you can also take a number of measures to improve the efficiency of said system. For example, you can seal any drafts that are letting in cold air and replace windows with new double glazing. You can also insulate your roof and walls to further improve efficiency.
These simple, affordable upgrades will make a significant difference in the value of your home. Since most of them can be done as DIY projects, you’ll also have plenty to do when boredom strikes.