Home prices have increased a lot over the past few years. Believe it or not, the price has increased by 13.5% in the past year alone. However, that doesn’t guarantee that the value of your home will increase too.
If you want to take advantage of the trend, you’ll need to make your home more appealing. But that’s easier said than done.
Do you want to learn more about how to increase the value of your home? Check out the guide below to learn what home improvements make the most sense.
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Add Square Footage
Do you have an unfinished basement that you can turn into a livable area? Or do you have extra space on your property that you can use to expand your home?
If so, adding extra square footage to your home makes sense. Unfinished basements don’t add to that number. By finishing your basement, you increase your home’s square footage and improve your home’s value.
The same thing will happen if you make a home addition. Yes, it will cost money to do this. But you’ll end up with a more livable home and be able to sell for more in the future.
Repair Problem Areas
It’s no surprise you have parts of your home that need repair. Some important things are easy to justify the cost of repair. However, some minor issues don’t get the same attention.
That’s a problem if you want to increase the value of your home. The more small issues your home has, the less your home is worth.
Look for problems in your home that don’t take much to fix. Ideally, you want to improve your home’s value more than you pay in repair costs. A quick way to figure this out is to get a home inspection to find all the problem areas.
Add to Your Curb Appeal
First impressions mean a lot when people come to your home. Your yard is one of the most significant factors that influence that impression.
If you have a yard that’s a mess, it doesn’t matter as much what your home appraises for. After all, why should someone take your word for it that you took care of your home if your yard doesn’t reflect your home’s condition. You’ll end up with a home valued less than what it’s worth.
Adding to your yard can work wonders for improving your home’s value. Whether you invest in patio design or change your front and backyard layout, do your best to make your yard look incredible.
It doesn’t cost a small fortune to do this either. Perform regular upkeep and add a few plants to brighten your yard to make your home appear much better.
Remove Popcorn Ceilings
Do you have the old ceilings that have bumps? Those are called popcorn ceilings, and they’re old-fashioned.
While some people enjoy the look, that’s the exception these days. It’s a dated look that many people don’t want anymore. In fact, it can prevent some people from making better offers on a home.
That’s why removing popcorn ceilings can add to the value of your home. At a bare minimum, you’ll get your money back when you sell your home. You’ll make your money back and some profit in other cases.
Improve Energy Efficiency
There’s nothing worse than moving into a new home that wastes energy. You buy a house and end up with bills that are bigger than you expect, which means you have to spend money to make improvements.
That’s why energy-efficient improvements can improve your home’s value. Here are a few for you to consider.
Smart Thermostat
A thermostat can be a game-changer for a home. It allows you to change your home’s climate on a schedule to make your HVAC system work less when you aren’t there. That will decrease the energy you use to maintain your home’s temperature and reduce your power bills.
Solar Panels
Solar panels didn’t always add value to a home, but that’s no longer the case. People now understand how valuable solar energy is. That’s why they now add value to homes when they get appraised.
The value-added usually depends on the annual energy savings you see. That means you can often make your money back on solar energy from electricity savings, tax rebates, and a higher sale price for your home.
If you’re intent on maximizing the resale value of your house by being an early adopter, consider bringing the dcbel r16 Home Energy Station into the home. A homebuyer that owns an EV will probably prioritize energy efficiency and bid more for a home that aligns with their values.
Tankless Water Heater
Do you have a standard water heater that keeps hot water the entire day? If so, you’re using too much electricity doing this. You probably don’t need hot water available at all times.
A tankless water heater is a more cost-effective option. Tankless water heaters will heat water on demand instead of wasting power to keep it hot at all times.
Replace Doors and Windows
You’re probably wasting power if you have old doors and windows. Older options aren’t energy efficient. They are single-paned and don’t have as much insulation to keep out the elements.
On top of that, they are probably degraded and don’t work as well as they did in the past.
New energy-efficient doors and windows do much better. They’ll help keep out the elements and make it easier to maintain your home’s climate. That means lower energy bills.
Renovate Your Kitchen and Bathroom
A great kitchen is becoming more popular for homeowners. People want space to prepare food and need enough storage to hold all their belongings. Older kitchen and bathroom designs don’t always have that space.
A kitchen and bathroom renovation can provide the space you need. Consider modifying your design to add more counter space and use modern materials.
However, coming up with new designs isn’t easy. Consider hiring a designer to help with the process. A pro can help reduce the time you spend planning and help you choose more affordable materials that will still add value to your renovated rooms.
Upgrade to Wood Floors
You’re hurting the value of your home if you still have an old carpet on your floor. Carpets are great to walk on, but it isn’t easy to clean everything. Dirt can seep into your carpet, making it hard to get with a vacuum and carpet cleaner.
That’s why many people prefer wood floors in their homes. It’s easier to clean, looks great, and lasts long when installed correctly.
Installing wood floors throughout your home will work wonders for your home valuation. You’ll usually add more value to your home than you spend on the floor installation, making wood floors a no-brainer for improving your home’s value.
Use a Fresh Coat of Paint
A new coat of paint can work wonders for the value of your home. Paint jobs look great for a long time, but they’ll eventually look worse as time goes on. That can detract from the value of your home.
It’s also an issue if your home has bright and vibrant colors. Other people may not like your unique taste. If you want to improve your home’s value, you need to use neutral colors where you can.
Use colors almost everyone likes and work well with a room’s natural lighting. The right coat of paint will make your rooms appear more spacious and make them more inviting for everyone. That will improve your home’s perceived value and improve the value you can get when you sell.
Update Light Fixtures
While old-fashion bulb domes will do a great job lighting your room, many people don’t like them anymore. They were popular in the past, but many people want more modern light fixtures.
You can improve your home’s value by updating all the light fixtures in your home to new and modern ones. An updated light fixture can give your rooms new life and make them appear modern if you have an older home.
You can do some quick research to see what some of the most common light fixtures are today. Head to your home improvement store after this to look for an option that fits the style of your home.
Now You Know How to Increase the Value of Your Home
Whether you plan to sell your home today or in the future, it pays to prepare your home for when you do. You need to do everything you can to make home improvements that add value to your home.
Luckily, you now know how to increase the value of your home. Use the tips above to start making changes that make your house a better place to live.
Head back to the blog for more information about how to make great home additions.
