If you’re considering selling your house or a rental property, you may be asking what you can do to increase its value before it goes on the market. Even if selling is not in the cards right now but you are thinking about making home improvements, it is always a good idea to ensure you are getting the most bang for your money.
With that in mind, let us look at five ways to add significant value to your property. Then you can decide which upgrades will be most beneficial for you and your family while also boosting your home value significantly.
1. Spruce up the entrance
When it comes to drawing buyer interest, curb appeal is crucial, but it doesn’t have to stop at a lovely lawn and garden. Replacing or simply repainting your front door can increase the value of your home.
According to Remodeling’s Cost vs. Value Report, a new steel door can return 65% of its cost, while a fiberglass door can reclaim 60.9%. Even a fresh coat of paint on an old door may make a difference. According to a Zillow poll, painting your front door black can improve the value of your home by 2.9%.
2. Replace some windows
Homeowners frequently get shivers up their spines, whether from drafty windows or the prospect of changing them. While replacing all the windows will surely increase the worth of your home, it does result in a significant expense, which may be less than ideal if you are selling the home soon.
However, you can replace specific windows, such as those on the lowest floor or the front-facing windows. Buyers prefer to know that new items are not just installed but can also save them money, and new energy-efficient windows can reduce heating and cooling bills.
3. Update the kitchen and bath
Your kitchen and bathrooms may need to be updated if you live in an older home. While this can be costly, you will see a return on your investment when you sell your property. If remodeling the entire kitchen and bathrooms proves too costly, consider some little changes.
You can, for example, replace all the kitchen and bathroom hardware. It will not only quickly brighten up your home, but it is also quite inexpensive. You may also replace your flooring and add decorative components to bring in pops of color. As a result, even simple improvements to your home will help raise its market worth.
4. Install energy-efficient appliances
As a homeowner, making your home more energy efficient and eco-friendly can help you save money while increasing its value. In addition, these improvements, like many others, can be done without breaking the bank.
For example, switching to LEDs, compact fluorescent lightbulbs, or upgrading to energy-efficient appliances is one of the many ways to make your home energy-efficient and increase its value. You can also put household solar panels on your roof, smart thermostats, or low-flow showerheads in your bathroom. To select the most efficient appliances for your home, look for those with the Energy Star label.
5. Add square footage
The square footage of a home has a significant impact on its value. It can also significantly improve your personal home experience. If you already live in a smaller home, you can increase the value of your property and create additional space by adding on to the existing structure.
Larger properties frequently sell for a higher price. Consider adding a deck to the rear of your house, extra rooms above the garage, or a tiny guest house or office in your backyard to increase the value of your property.
Aside from extensions, increasing the usable space within your home’s current structure can significantly increase its value. For example, you can enhance the amount of usable square footage in your home by finishing your basement or tearing down non-load-bearing walls to create a more open-concept living space.
6. Clear up clutter
Before beginning any home renovation improvements, ensure your home is in the best shape. Cleaning your living area will significantly improve its appearance and storage capacity and resolve minor issues that may have been detracting from the value of your property, such as foul odors or mold growth.
It is important to declutter to boost the home’s appeal to potential buyers. If you want to sell quickly, get rid of all the clutter, box it up, and store it properly. If you intend to stay in your current house, you may want to consider installing a cabinet or closet to increase storage.
There is no doubt that the tips above will assist you in improving the market value of your home. Remember that you do not have to spend much money to improve and update your living spaces. However, every investment is equivalent to putting money in the bank. Your home is your savings account, and it is time to start planning for its future.