Many homeowners believe that their house’s value will increase after ten years or so, but depending on the location and the market, it is still not sure. However, you can still be optimistic about it, but some factors are out of your control and can change your house’s value. Thus, it is in your discretion to do something about your house to increase its worth.
That said, most homeowners think that having expensive outlays and doing endless renovations is a surefire way to increase their house value. That may be the case, but there are other ways to increase its value without cashing out a lot of money, time, and effort.
Here are four simple tips to increase the value of your home.
Plan Your Remodel
Before you go ahead and pick a room to remodel, you might want to pause and think about your remodeling projects’ overall plan. Most times, you will be able to do better when you plan your remodels instead of thinking about them on the fly and remodel a room on impulse. It’s better to start slowly and plan your way up from top to bottom.
Try listing out what you want to change about your house and create a budget for each of them. To be more efficient about it, put your feet in the shoes of the buyer. Will a new bathroom be worth it? Is it essential to change my roof? Assess the quality of your house and address anything that needs repairs or changes.
Moreover, if you have the time, you can talk about it with your realtor. They have a lot of experience on that side of the business and can even calculate your net proceeds.
Energy conservation is one of the main features a lot of Millennials seek in a new house. That said, it has a significant role in increasing the value of your home.
Depending on the country you are in, your house’s practicality will have a significant impact on your buyers’ minds. Not to mention that EEMs or Energy Efficient Mortgages allow borrowers to take on additional debt to spend on the energy-efficient upgrade. It only makes sense for them to find a house that is already energy efficient to avoid racking up more debt.
If you have the budget for this kind of upgrade, start with LED lights, double-paned windows, and attic insulation. Also, replace your appliances with energy-efficient ones. If you are willing to go for gold, try installing solar panels on the roof.
Solar panels alone will increase the value of your house significantly. However, solar panels are significant financial and structural commitments. Thus, you should only acquire them when you want to boost your house’s value in the long term and not for an immediate sale.
Of course, you should not only focus on what’s inside your house but also on the outside. It may do little in increasing the value of your house, but it will surely attract more potential buyers to have an appealing curb. Think of it as your first impression. A lot of buyers will pass your house if it doesn’t look good outside. You’ll lose the chance to advertise what’s inside your house.
So, what should you do? First things first, trim your lawn and keep the pathway clear of any clutters or garbage. Also, see the structural integrity outside your house. If you see little cracks here and there on the walls, you might want to do something about them.
Additionally, you can accentuate your walkway with flowers and the like. If you have a big garage door that you don’t want to be noticed, you can paint your front door red to avert your buyers’ eyes from it.
Repair And Refresh
Replacing things that can still be used is a bad decision—for example, your kitchen cabinets. If you have kitchen cabinets that are quite old and damaged but are still usable, you can try refreshing or repairing them instead of buying new ones. To salvage them, you can try painting them and see if they are still viable and pleasant to the eyes.
Updating hardware can make your kitchen cabinets and appliances look more modern instead of buying new ones. For old and worn out tubs and sinks, you can deep clean them for a newer look. The chances are that they aren’t exactly that old- they are just not appropriately maintained. And don’t stop in your kitchen. You can do deep clean or polish other rooms as you see fit.
Cashing out money for expensive replacements and renovations is not the only way to increase your home’s value. Try to think about the necessity and market trends to attract more potential buyers. Sometimes, deep cleaning and polishing everything increases your house’s value more instead of having a complete home makeover.