You’ve invested in a house, maybe it’s a new purchase, maybe you’ve been living in the house a few years, or perhaps it’s an old family property. Regardless, the point is that you want to increase the value of your home.
You want to find a way to renovate it, so the value increases when you eventually choose to sell the property. Property tends to appreciate independently, but by improving your home, you are taking a more active role in increasing its value. There are many ways you can increase how much your home is worth.
Have an Inspection & Fix any Problems
Many home-owners wait to have a home inspection until a buyer requests it. Don’t do this. Having a home inspection is relatively inexpensive, and it gives you a heads up about any problems that could affect your home and ultimately its value. Plus it gives you time to address these problems or at least allows you to be aware of them.
Home damage and issues can lower house value if they come as a surprise during the buying process. An inspection can also give you ideas for the areas that need improving. Speaking with a real estate agent can also be a great way to identify areas that need to be showcased or fixed up.
Make It Prettier
Aesthetic appeal can be enormous in selling a house. This improvement can be as simple as putting a fresh coat of paint on the walls, adding better lighting to specific rooms, or even improving the garden and front lawn.
First impressions matter. They matter a lot. If the carpets are old, replace them. If the bathroom or kitchen facilities look drab, update them. If your lawn is turning brown, plant new grass. If the hinge on your front door squeaks hit it with some WD-40.
Some of these improvements may seem minor, but they add up to the buyer’s initial idea of your house, which is a big part of an initial asking price.
Improve Energy Efficiency
Buyers are often looking to save money in the long term and will pay more for a house that is energy efficient. This can also help you financially if you intend to stay in the house for some time and not sell immediately.
These improvements can be made easily by replacing and updating old appliances, or by installing new windows with better seals, to prevent air leaks. Even buying energy-efficient light bulbs will allow you to save some money in the long run. In this field, we would include adding technological improvements, such as burglar alarms and intercoms.
Make It Bigger
Add an extra bedroom, create more storage space, or build a deck, whatever addition you add to your house, it will add value. It’s all about adding square footage, and there are many creative ways you can go about it.
You can start from scratch, or finish the basement or attic. This is in some ways the most obvious way of adding value to your home, but it is not always the easiest, or the cheapest, particularly if you’re living in the house while working on it. That being said, in the housing market, bigger almost always better.
Adding value to your home or property does not always have to be complicated or expensive, although of course, you do tend to get back what you put in. Sometimes the best ways to increase value are more obvious than you realize!
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