On average, a home costs $428,700 in the US. Of course, the value will differ depending on where you live and what condition your house is in, but that’s a pretty decent number.
But why settle for decent when you can do better? Even if you’re not selling anytime soon, raising your home value increases your equity. And more equity means more opportunities!
However, you do need to put some work in. Some projects may cost more time and money than others, so choose wisely.
Read on to find out how to increase the value of your home.
Do Some Landscaping
First, start with the outside of your property. First impressions are everything, so if your home’s curb appeal isn’t fantastic, then chances are, its value isn’t great either.
Whether you take care of it yourself or hire a professional, make sure your lawn looks neat. Trim all trees, too, and pull out weeds for a tidier appearance.
Does your property still look dull, though? Then add some colorful seasonal plants and flowers. This has the added benefit of attracting local wildlife!
Paint Your House
A cost-effective way to increase your home’s value is to paint it. There’s got to be cracks and chips that age your property; even complete coats of paint can look dull and worn out after many years.
Again, you can either DIY this project or hire a pro. Either way, getting some fresh paint on your house is a great way to add value to it!
While you’re at it, consider changing up the colors, whether inside or outside. This can update your home’s look in a flash.
And don’t forget to paint your front door, too! It’s one of the first things buyers see, and they won’t have a good impression if it’s chipped and faded.
Do a Kitchen Remodel
The kitchen is one of the most important spaces to homebuyers, so it’s one of the best home renovations to focus on. You don’t have to take on a lengthy and expensive project either.
If you have a small budget, update the things your eyes are drawn to, such as countertops and cabinets. Otherwise, tear everything out and replace it with more modern things.
You can also reevaluate your kitchen design and make things flow smoother to add more value.
Do a Bathroom Remodel Too
Bathrooms are a close second to kitchens for the most important spaces list. So if yours are gross and outdated, make them a priority.
Similarly, you don’t have to do a huge renovation to get a good return on investment (ROI). A mid-sized project can make a significant difference in attracting buyers, and all it takes is some new flooring and fixtures.
Add Energy-Efficient Features
As we’re becoming more educated about climate change, more homeowners want to reduce their carbon footprints. This means that adding energy-efficient features will surely increase your home’s value; not only will they save the planet, but also some money!
If you’re replacing appliances during remodeling, then opt for Energy Star-rated ones. You can replace your light bulbs with LED ones too.
For the ultimate ROI, install solar panels. You’ll benefit from these for years before you sell. In fact, they’re best for the long term instead of a quick boost in value.
Increase the Living Space
It’s getting tougher to find larger houses for affordable prices, so if you can increase the living space in your home, you’ll strike gold.
Take a look around and see if you can add a bedroom, laundry room, or even a separate mother-in-law suite. Just be careful not to get greedy, as adding rooms can backfire and make existing rooms feel smaller and more claustrophobic.
Replace the Flooring
Throughout the years, you’ve had lots of foot traffic in your house. Even the most thorough deep cleaning won’t change your grayish carpet back to the pristine white it was 20 years ago. And your hardwood floors aren’t much better either; they’re scratched up by your energetic dogs and rough-housing kids.
To begin with, if you have carpet, get rid of it immediately. Modern homeowners prefer hardwood floors. To get the most bang for your buck, get solid hardwood.
You should also replace the flooring in your garage, especially if it’s stained and/or cracked. This home page shows what a transformation your garage flooring can have.
Replace Major Components
One of the biggest worries homebuyers have is inheriting major components that’ll need costly maintenance and repairs. So if you’ve got any that are decades old, consider swapping them for brand new ones.
This can be a costly endeavor, but these home improvements can be worth it when it attracts more buyers’ eyes. When they see that they can have peace of mind about the roof or water heater, they’ll be more motivated to buy.
When looking at new components, choose ones that have convenient features and low maintenance needs. You’ll get bonus points if they’re energy-efficient too.
Know How to Increase the Value of Your Home
Now that you know how to increase the value of your home, you have several options to pick. What’s great is, you don’t have to do them all to be successful.
So evaluate the choices, think about what the local market’s like, and factor in your home’s current condition. From there, you can select worthwhile projects to focus on and not worry about bankrupting yourself in the process.
Need more tips on home remodels? Then check out our other blog posts now.