Ready to Increase the Value of Your Home?
If you are looking to buy or sell a house, those extra details make all the difference in pricing. In fact, you have several options to upscale your house value!
Moving into a house is a strenuous process. Most people who move want to know that their new home is the absolute best they could find. The buyer will want to be sure that not only is their home visually appealing, but it will be something that can sustain them long-term. A home that is turnkey is highly desirable.
Both of these aspects play a major role when deciding which home to purchase. Even those with a budget will sometimes lax if a property has recently been remodeled, added onto, or features some kind of energy efficiency.
Increasing the value of your home can be done! However, it will take time, effort, money, and patience.
If you are willing to put in the work, your house will become someone’s dream in no time! Check out these tried and true tips for increasing home value to help you get started.
1. Create Visual Curb Appeal
This trick applies for both the indoor and outdoor setting of your home. Don’t overlook the power of a well-manicured front lawn, or even a backyard that has been kept well.
Adding visual touches such as bushes, shrubbery, potted plants or flowers can have a massive effect. Pay attention also to the front and back porch, in adding accent furniture if needed.
Fire pits, pergolas, and pools in the backward will also create an immediate raise in the value of your home. For example, a recent study shows that adding an in-ground swimming pool can add between $11,591 and $95,393 in value to your home.
2. Renovate the Interior as Needed
Once you have completed a beautiful outdoor living space, it’s time to move onto the indoor aspects of your home. The most important rooms to focus on are the kitchen and the bathrooms.
The good news is, you don’t have to go full-on Pinterest mode for your renovations either! A minor kitchen remodel can recoup up to 80.5% of its home value, which can include updated flooring, refinished cabinets, and a few updated appliances.
For an updated bathroom, it doesn’t necessarily have to be an entirely brand-new shower and bath. This can look like adding new light fixtures, new flooring, countertops, or adding additional cabinet storage while maintaining a polished look.
A renovated bathroom can recoup about 67.2% of your cost on a mid-range renovation!
While on the topic of visual appeal, bedrooms can be effective as well. A room with natural light, a large amount of space, and clean floors are ideal for most families. Consider putting in new carpet, if needed.
3. Add Additional Space
The bigger your house is, generally, the more it will sell for. This is a common truth in real estate.
For example, an added bathroom can increase value by up to $18,000.. By adding a new bedroom, you can increase the value of your home from $30,000 to $50,000. Location and existing property value does play a role in these numbers.
If you are looking to add even more space, an added garage can recoup an 81% return on investment, or an added value of $21,000.
4. Increase Efficiency
A house that works smarter and will end up saving money in the long run is extremely attractive to a potential buyer. Solar efficient panels have increased in popularity as of late.
Invest in LED lighting! According to the Department of Energy, LED lighting uses at least 75% less energy, and they last about 25 times longer than traditional, incandescent lighting.
5. Invest in Smart Technology
As technologically advanced devices rise in popularity, such as Amazon Alexa, Echo Dot, Google Home and more, there are also increasing opportunities to incorporate these devices into your daily lifestyle.
“Smart” devices such as smoke detectors, fire alarms, doorbells, outdoor security cameras, and numerous others are becoming more vital and practical for families to use.
Installation of a few of these smart devices are sure to increase home value, especially as their popularity continues to rise.
With technology and efficiency becoming more and more prevalent, there are countless options at hand to increase home value.
Want to learn more about real estate? Let NVE answer all your questions! Check out our blog for more information.
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