Owning a home isn’t only an emotional and financial experience. It can pay you dividends as you continue building up equity, and its value increases over time. That said, if you’re looking to sell it in the future, there are some ways for you to increase its value.
The rate of a property’s value is based on several factors that you need to consider. These factors include but aren’t limited to the house’s location, local demand for housing, the economy as a whole, the age of your house, etc. However, there are also some things that a homeowner can directly do to increase its appeal to potential home buyers and increase its value directly.
Here are some of them.
Give Your Kitchen an Updated Look
Most potential home buyers almost always zero in on the kitchen as the centerpiece of a house. That said, if you have an outdated kitchen, that will turn away most of your potential buyers. Instead, it would help if you made an effort to beautify your kitchen through significant renovations or adding new appliances.
But don’t only look at the appliances, though, as you can also update your cabinets and other hardware in your kitchen. If you’re unsure where to start, you can ask the help of your real estate agent about this. Usually, they recommend working with a professional who can help you plan and renovate your kitchen.
In the U.S, many homeowners hire interior designers or architects for both small scale and large scale kitchen renovation projects. The same goes for those who are in Australia, homeowners prefer to work with professionals like Mark Lawler for their renovation projects to make sure they will conform to the building codes and avoid compromising the structural integrity of the kitchen space, especially for large-scale renovation projects that involve tearing down or adding walls and columns.
Most importantly, before letting potential buyers in, make sure that your kitchen is always organized and clean. That way, they’ll feel more enticed while checking out your newly updated kitchen.
Freshen Up the Finishes of Your Home
If you’re tight on budget, one thing you can do to increase the value of your home without breaking the bank is to put in a fresh layer of paint. Yes, it’s superficial, but do you know that it can give your house at least a 5% increase in value?
If you ask your real estate agent about it, chances are that these will be one of the suggestions they will give you. That and probably replacing your old light fixtures and even changing out your door entirely. These updates are inexpensive but will give your house value a nice little bump.
Add Usable Square Footage
Adding more usable space in your house is always a good idea if you’re looking to bump in your house’s value. This is especially true if your house is located in an area where space is finite, not to mention that the more livable square feet your property has, the more value it will have in the market. So how exactly do you add more usable space in your house?
One great example of this is adding another bathroom. It’s one of the most recommended additions. Another excellent example of this is a guest room. However, if you’re willing to splurge, you can add a mother-in-law suite. Most homes don’t have this feature, and if you add this to your home, this will set your house apart from the other house for sale around your area.
Make Your House Energy-Efficient
Projects that lower the energy cost of a house will significantly increase its value. One of the most common examples of this is installing a smart thermostat. A smart thermostat will let you dictate when to heat the house, making it more efficient, which leads to tons of saved money.
One of the biggest appeals to the home buyer is an energy-efficient house. This is because, as homeowners, we always want to save a lot of money on our utilities, so we’re always looking to make our energy costs low. That said, if your house is full of old appliances that don’t have the energy star, you should consider buying new energy-efficient appliances. They can be costly, but you can offset the cost if you want to sell your house soon.
Work on Your Curb Appeal
Your curb is like the face of your house. And just like how we put effort into our appearance before a job interview, we should do the same to our curb before a house showing. Since the curb is the first place your potential buyer will see, it will make the first impression. We all know first impressions last, and having an undesirable first impression will sour up the rest of the tour.
There are several things you can do to freshen up your curb. First, you can hire someone to powerwash your driveway to wash away all the dirt. If you have a little garden on the side of your curb, some mulching projects can go a long way. Finally, you can add some planters to add a little green on your curb if you want.
There are several ways for you to increase the value of your house. Through meaningful updates and renovations, you’ll see an increase in its value over time. Also, the tips we discussed above are proven effective if you’re looking to increase the value of your house yourself. But of course, before you do anything, you should ask a professional first.