Getting a house has become one of the most significant life achievements that a person can do in its lifetime. In today’s ever-changing market, getting a house has become a sure investment, and many homeowners who decide to sell a house can get almost thirty percent more than what they paid for in the first place.
Many Americans think that your home is your most valuable asset and that it should be a priority. So if you own a house, you want to do what’s best for it, and in the chance that you want to sell it, you want to get the best price out of it.
So knowing this, you can prepare to invest in your home in the best way possible. Some investments are better than others, though. On some investments, you can get a return fully, on others, you can get less, but in any case, we will compile the five best proven ways you can increase your home’s value.
Before we start, let’s be clear. There are two things that you need to remember when making improvements. The first thing you need to know is that you don’t spend more than you need. Never spend more on a house than it is worth. The value of your house will always be affected by the values of the nearby properties.
Many things can impact the value of your home, and you need to strategize before really putting in the work. The second thing is that you probably need professionals on the job. DIY projects are great, but first-timers shouldn’t try to do some of the bigger projects.
1. High Demand Finish Options
You can boost the price of your house if you are planning to sell it in the near future by making upgrades that are highly sought-after among buyers. This could mean getting stainless steel appliances and marble or quartz countertops in the kitchen, as opposed to other finishes that might not drive as much interest, even if they’re high-quality. This can also go for door knobs, too. Make it shiny around the house, and this will attract buyers! Looks can be more important than exclusivity.
2. Increase The Curb Appeal
Curb appeal is the first impression of your home. So the look from the street is very important and this can really improve the price. Prospective buyers should be attracted by the outside, and they will want to go inside and check it out. Painting the house is a bigger deal, but it can really make all the difference.
Make sure that your existing landscaping is well-maintained and looking nice. Consider planting flowers or painting just your front door. If your house looks dull compared to your neighbors, it can bring the price down. A nice lawn can go a long way.
3. Increase Energy Efficiency
If you really want to make your home modern and up with the times, you need to increase your home’s energy efficiency. This can mean installing new windows and doors, which is a big project, but the savings can be immense. The return in a sale probably won’t be 100 percent but close to 70 percent. So especially if you want to live there longer and save on utilities, this is one of the biggest and best options overall.
If you have good windows and doors and your home is efficient, you may take it to the next level by installing smart electrical panels that will give you complete control over the energy you use in your home. This will provide you with control from real-time power usage control to scheduled use of electricity when it’s cheaper. So this really can make your home smarter, and it is especially recommended if you have solar panels!
4. Add More Space
You could do bathroom or kitchen renovations that could be a big hit on the budget. But you need to be aware that the biggest price hike that you can get is more space. The bigger the house, the bigger the price. Larger homes are always more pricey, and you can earn money. This may seem obvious, but it is important to remember.
Adding square footage can increase your home’s value in a heartbeat. You could think of repurposing a room or maybe using the full potential of your basement if you have one. Our suggestion is to look around you and see what wall you could bring down. How can you make the space more open and how could it benefit the living space? Just be sure that the idea will work and that you can do it with your budget.
5. Update and Fix Your Appliances
If you have a well-functioning home where all appliances are in good condition, you can leverage the negotiation process. How can you achieve this? Check that all appliances and systems in your house are functional and up-to-date.
Have a look at the house and see what needs to be fixed. Maybe it can be a DIY project for you. Some of the common issues that homeowners face are loud air conditioning or leaky pipes. These are the top priorities that you need to fix up before putting the house upon the sale.
Fix a leaking plumbing line. Get a new water heater if the old is old. Fix up the roof if it has been damaged. Roofing replacements can be a bit more expensive, but this is also a good investment, and there is also a 70 percent return on the investment in most cases.
The market is constantly evolving and changing, so be aware of that when fixing up your home. Even if you don’t want to sell it now, these projects will be a great addition to any home to improve the quality of life.
One more quick tip is to add tech to your house, especially if you are in an up and coming neighborhood. All from smart thermostats, cameras, and fire detectors can be a good investment as most you can install on your own, and this can really mean for some potential buyers.