Effective Ways to Increase Your Home’s Value
Purchasing a home is a huge achievement, and a significant investment. While making regular mortgage payments will help you accumulate equity as time passes, you can make changes and upgrades to increase its value faster. This will result in a much bigger return on the initial investment you made.
From paying attention to landscaping to hiring a roofing specialist to make repairs and improvements, keep reading to learn some of the top things you can do to increase your home’s value.
Upgrade Using High-Demand Finishes
If you want to sell your house soon, you can increase the demand for it by investing in upgrades that are in demand by modern buyers. This could mean investing in quartz or granite countertops or stainless-steel appliances.
Smaller finishes will also help increase buyer interest by keeping costs for upgrades low. You can consider simple changes, like switching out your brass locks and doorknobs to a brushed nickel finish. You can also change your yellow incandescent bulbs for more energy-efficient, and brighter LED lights.
You can even talk to roofers or other contractors about installing a better roofing material or siding on your home. All these changes will help increase your home’s value.
Increase the Amount of Finished Square Footage You Have
If your home has an unfinished basement or some other type of unfinished area or room, consider building out this space as an affordable way to increase your home’s value.
For example, if you build a bedroom in an unfinished basement, you will likely add 100 square feet or more to your home’s total square footage. Not only does this increase total value, but so does the fact you now have another usable bedroom.
Some homes are priced by multiplying the total square footage by a comparable rate for the same type of home in your community. This means if you increase your square footage, it will likely increase your total selling price.
Upgrade Your Bathroom or Kitchen
Bathrooms and kitchens are some of the most used rooms in any house. They also have the biggest impression on potential buyers. Unfortunately, these areas are also the fastest to become dated since décor, finishes, and appliances tend to fall out of style.
For this reason, bathroom and kitchen upgrades are a wise way to spend your money. Bathrooms are especially great for renovations and upgrades.
Improve Your Landscaping
First impressions have a huge impact on the sales value of your home. Investing in landscaping and other similar enhancements to the front of your property can increase its value to potential buyers and appraisers visiting your property.
Choose Energy Efficient Features
Modern homebuyers put more emphasis on eco-friendly features than ever before. Part of this is an increased focus on environmental issues and the fact that choosing energy-efficient options helps them save money on utility costs.
If you plan to upgrade your home appliances, try to purchase energy-efficient equipment from your furnace to your microwave. Doing so will help reduce gas and electricity costs. It may also be smart to upgrade to a smart thermostat that will help improve energy efficiency.
If you want to increase your home’s value, be sure to keep the tips and information above in mind.