What can I do to boost the value of my house or rental property before I put it on the market? That may be a question you have if you're thinking about selling. It is always a good idea to make sure you are getting the most value for your money, even if selling is not in the cards right now but you are considering making home upgrades.
Let's take a look at five strategies to significantly increase the value of your house. Then you can choose the improvements that will be most helpful to you and your family while also greatly increasing the value of your property.
Beautify the entryway
Curb appeal is essential for attracting buyers, but it need not end at a gorgeous lawn and garden. Your front door's replacement or simple repainting might raise the value of your house.
A new steel door can recover 65% of its cost, while a fiberglass door can recover 60.9%, per Remodeling's Cost vs. Value Report. Even a new coat of paint on an outdated door could have an impact. A Zillow survey found that painting your front door black will increase its value by 2.9%.
Change a few windows
Whether it's because of drafty windows or the thought of replacing them, homeowners frequently experience shivers up and down their spines. Although changing every window in your house will boost its value, doing so comes with a hefty cost that may not be optimal if you plan to sell it soon.
However, you can change particular windows, like those on the ground floor or those that face the street. Buyers love to know that new products can save them money in addition to being installed, and new energy-efficient windows can save cooling and heating costs.
Revisit the kitchen and bathroom
If you live in an older home, your kitchen and bathrooms might need to be upgraded. Even though it may be expensive, you will get your money back when you sell your house. Consider making some minor adjustments if redesigning the kitchen and bathrooms completely proves to be too expensive.
For instance, you could swap out all the hardware in the kitchen and bathroom. Not only will it immediately make your house brighter, but it is also reasonably priced. To add colorful accents, you might also alter your flooring and add decorative elements. Because of this, even small changes to your home will assist increase its market value.
Switch to energy saving appliances
Making your property more eco-friendly and energy-efficient can increase its value while also saving you money as a homeowner. Additionally, like many other upgrades, these can be made on a budget.
One of the numerous methods to make your home more energy-efficient and boost its value is by updating to energy-efficient appliances, LEDs, or compact fluorescent lightbulbs. Additionally, you can install smart thermostats, low-flow showerheads, and home solar panels on your roof. For your home, choose equipment with the Energy Star badge to ensure maximum efficiency.
Consider adding an addition
A home's value is significantly influenced by its square footage. Additionally, it can greatly enhance your experience at home. If you already have a modest home, you can add on to the existing building to raise the property value and add more space.
Larger homes usually sell for more money. To raise the value of your property, think about adding a deck to the back of your home, additional rooms above the garage, or a small guest house or office in the backyard.
In addition , increasing the amount of space that can be used inside your house will raise its worth considerably.
Eliminate clutter
Make sure your home is in the best condition possible before starting any renovation changes. Cleaning your living space will greatly enhance its appearance and storage capacity as well as take care of any minor problems that might have been lowering the value of your home, including musty odors or mold growth.
To increase the appeal of the house to potential purchasers, decluttering is essential. Get rid of all the clutter, package everything, and store it correctly if you want to sell your property quickly. If you plan to remain in your present home, you might want to think about adding a closet or cabinet to boost storage.
Closing thoughts
The previously mentioned tips will without a doubt help you increase the value of your house. Keep in mind that you can update and improve your living areas without spending a lot of money. However, making an investment is the same as depositing money in a bank. It's time to start making future plans for your house, which serves as your savings account.
