How to Increase the Value of Your Home

Even if you consider your humble abode to be your “home, sweet, home”, there’s almost always a possibility it won’t be your last. Many of us know we will ultimately have to move to retire, find a new job, or tackle any other curveball life throws at us, and we need to keep in mind the resale value of our property. There are plenty of things you can do to be proactive in making your house more valuable when it comes time to sell. Wondering how? Read on for tips on how to increase the value of your home. Bonus: They’re not all going to break the bank.

Go for the Big Remodel When Possible

Just had a windfall? Promotion at work? Year-end bonus? Whatever the reason you’re suddenly at least somewhat flush with cash, now is the time to consider making improvements to parts of your home. Remodeling your kitchen and/or bathroom are going to get you the most bang for your buck when it comes time to sell. Whether you are a DIY type or you plan on outsourcing the projects, there’s no denying these home remodels temporarily inconvenience you. Hold on for the finished product, though, as there is nothing like seeing a room in your house go from drab to fab under your own direction. Hopefully you’ll get to enjoy it for a while but, even if not, you can rest easy knowing you just increased the value of your home.

Make Small Improvements, Too

You might be feeling discouraged if you don’t have the money for the big remodels, but you can always seek the help of Tempe hard money lenders. Even if you don’t go for the loan, however, you can still make changes that will improve your resale value. Minor kitchen and bathroom remodels in which fixtures and floors are replaced can be crucial. Another inexpensive way to make a big impact on your home is a new coat of paint on each room inside. Painting the exterior is also a fantastic tactic to improve the look of your home, and this curb appeal will matter when it’s time to sell.

Tend to your Landscaping

This is another huge part of curb appeal. It doesn’t matter how amazing the inside of your home is; if it lacks curb appeal come selling time, the interior could be virtually worthless. Many busy real estate prospects won’t even go inside if the exterior of a home is a huge mess. Again, though, this doesn’t necessarily mean a million-dollar makeover complete with a water fountain. Some simple, well-manicured shrubs and plants along the walkway are wonderful, and a flower and/or rock garden will add additional value. Making sure your landscaping is well kempt when your house goes on the market will be crucial.

Consider Adding High Tech and Smart Touches

This is particularly true if you’re hoping that your house will eventually attract the eye of the Millennial crowd. As this CBS News article notes, “Where smart home features were once considered a fringe benefit, more buyers are demanding them, and agents are taking notice.” Coldwell Banker Residential Brokerage sales associate Travis Gray tells CBS that the smart features of today are much like adding other features in the past:

“I equate it to stainless-steel appliances and granite countertops,” Gray told CBS. “Ten years ago it was great if you had them but it wasn’t expected. But now you have to have them — it’s expected. And if homeowners don’t have those features, they’re installing them to sell their homes at a better price.”

You can add an entire set of smart kitchen appliances and alarms or add smaller smart touches such as smart bulbs and learning thermostats. The latter is the type of thing that particularly appeals to Millennials, as these devices will turn off when they sense no one is home and thereby use less energy. Some companies claim that smart thermostats can lower an owner’s heating and cooling bill by up to 20 percent, which is no small feature when appealing to potential buyers.

Maintaining your home is simply smart practice, but if you add any or all of these suggestions, you can watch the resale value of your home skyrocket.

 

 

 

2 thoughts on “How to Increase the Value of Your Home

  1. I’ve been thinking about this recently as we’re buying a new oven and refrigerator this year. Fridges have TVs in them now… I don’t think I need my home to be quite that smart. Definitely going to invest in a Nest thermostat and start looking into the smart light bulbs though.

    Great post.

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