How to Increase Your Home's Value
Increase Your Home’s Value and aesthetics
Our homes are more than just a place we live in; in most cases they are also our biggest investment. Proper home maintenance will, in the long-run, protect your investment and improve your quality of living. In addition to home maintenance, there are numerous projects one can undertake to boost both home value and living quality. Whether you plan to sell your house or not, these projects will not only increase your home’s value, but also enhance the aesthetics and improve its functionality.
Unfortunately many home owners are failing to realize that the first step before undertaking any significant remodeling project should be an evaluation by a professional home inspector to make sure your home doesn’t have a structural, plumbing, electrical issue or any other underlying problems. These types of issues should be fixed first to protect your investment. Home inspectors are the best option to do such evaluation because they are not tied to any construction or remodeling company and will give you a fair report of your home’s current status.
I’ve seen many homes where the seller invested a lot of money in kitchen and bathroom remodels, just to see their investment being nullified by additional and significant repair costs, because they didn’t know or ignored a fact that the home was in need of structural, plumbing system, HVAC system or other underlying problem repairs.
Here are some projects that can significantly increase your home's value.
Curb Appeal
First impressions matter the most. The exterior of any home is the first thing people see, therefore investing in curb appeal makes a lot of sense. Simple improvements like landscaping, driveway repair, or updating the front door and the garage door can make your home more attractive. Another attractive selling point is a deck or other outdoor living space upgrade or addition.
Interior upgrade
Updating flooring with hardwood, laminate, or tile can significantly increase your home's value.
A fresh coat of bright neutral-colored paint can make your living space appear more open, larger and will appeal to a broader range of potential buyers.
Kitchen Remodel
The kitchen is a place we all spend a lot of time not only preparing food but often a place we gather to entertain guests, so the kitchen is rightfully considered by many to be the heart of the home. The kitchen is also one of the first places potential buyers look. A kitchen can yield one of the highest returns on investment. Consider updating entire kitchen or parts of it such as a fresh coat of paint, new countertops, cabinets and appliances or new flooring.
Bathroom Upgrades
Bathrooms are another area of focus by potential buyers. As with kitchens, remodeling the entire bathroom will yield the biggest return, but it is not necessary to overhaul the entire space. Simple upgrades like new paint, vanity and fixtures, and flooring can have a significant impact.
Basement Finishing
If you have an unfinished basement in your home, consider turning it into a finished space. Added usable square footage such as a bathroom, home office, gym, playroom or a bedroom can dramatically increase a home’s appeal and value.
Energy-Efficient Improvements
Energy-efficient home upgrades add to your home's value by reducing energy bills. The most popular energy-efficient home improvements are HVAC upgrades, adding insulation and installing energy-efficient windows. Incorporating smart home technologies such as smart thermostats, LED lighting systems and security cameras will not only improve your home’s energy efficiency but also enhance your home’s security.
Focusing on critical projects like curb appeal, interior, kitchen and bathroom upgrades as well as energy-efficiency improvements will enhance your living experience and increase your home's value.
Always remember to follow local building codes, consult with professionals and carefully budget and plan for these projects to ensure the best return on your investment.
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