5 Tips to Increase the Value of Your Home – The opinions expressed by the author in this and all guest blogs are not necessarily those of Gainesville Restoration and Remodeling.
5 Tips to Increase the Value of Your Home
Anybody who owns real estate hopes that someday, their property will be worth more than they paid for it.
Like any real property, your home’s value is heavily dependent on factors such as location, population growth, and market fluctuations, but there are some things that you can do to increase the value of your home.
Here are five simple ways to make your property more attractive and raise its worth:
1. Work on your property’s curb appeal.
Real estate agents go on and on about curb appeal for a reason: The way your home looks from the street has a great impact on its desirability.
Do you have plenty of money to spare? Consider investing in a new garage door with an updated garage door design. If you’re on a limited budget, though, replacing or painting your front door a new color can is a good way to elevate your property’s curb aesthetic without breaking the bank.
Of course, you should never forget landscaping, which is probably the best and least inexpensive way to make any property more appealing. Healthy trees, blooming flowers, and well-kept lawns and flower beds can make your home feel fresher and look multiple times prettier than it is.
2. Add more usable square footage.
Creating more usable space in your home can be a very economical and cost-effective decision, especially if you’re living in an area with very limited real estate.
The more livable square feet your home has, the more it will be worth by the time you decide to sell it. Additions like bathrooms, a family room/entertainment den, or an in-law suite can improve the functionality of your home and also increase its value.
Building additional rooms is the most obvious way to make your home bigger, but they also require more capital. If you want to create additional living space at a fraction of the cost, consider building a deck or a patio.
3. Update your kitchen and bathrooms.
Bathroom and kitchen renovations are widely regarded to have the most impact on a home’s resale value. Appraisers are likely to check for updates in the bathrooms and kitchen first as these areas tend to have the most significant impact on the decision of buyers.
There are a lot of things you can do to update the look and feel of your kitchen. You can replace outdated appliances with newer models, reface old cabinets, and revive aged flooring with newer tile designs or vinyl. Even minor upgrades such as a new backsplash can make your kitchen like new.
As for the bathrooms, complete renovations aren’t always necessary. A new vanity or toilet and some newer bathroom fixtures are often enough to give it a more updated feel.
Even if you’re not planning to sell your home anytime soon, a kitchen or bathroom renovation makes a lot of financial sense. These are high-use and high-traffic areas of your home; any improvement will pay off in the long run.
4. Invest in eco-friendly features.
Homebuyers these days tend to place more importance on the eco-friendliness of a home for two good reasons: a greater awareness of the environmental issues we are facing and because energy-efficient features in a home can save them money on utility bills.
When purchasing new appliances for your home, always look for energy-efficient models. Energy Star appliances use 10 to 50 percent less water and energy than their standard counterparts. Moreover, upgrading to a smart thermostat will improve the efficiency of your HVAC system.
If you’re ready to go the extra mile, install solar panels on your roof. However, this investment only makes sense if you’re looking to increase the value of your home over time and not looking for a quick return on investment or boost in resale value.
5. Apply a fresh coat of paint.
A new paint job is one of the quickest and most affordable approaches to updating the appearance of your home and increasing its value, especially if you’re planning to sell it soon.
If you’re on a tight budget, you don’t have to repaint your entire house. You may breathe new life into your property with basic fixes like touching up flaking or chipped paint or painting your front door and trim a new color.
When it comes to color choices, painting rooms in ivory and warm neutrals are said to add greater value to a home since light hues can make small rooms appear larger. If you want to add a pop of color to the space, create an accent wall by painting one of the walls with a different or more vibrant color than the rest of the room.
Upgrading your home doesn’t have to be a costly undertaking. There is a selection of DIY projects that can help you increase the value of your property, both for yourself and for future buyers.
Whether you’re renovating for your personal benefit and convenience or to sell for profit down the road, the ideas we’ve mentioned above will help you maximize the value of one of your most important investments.