Increase the Value of Your Home With These 5 Steps
Even if you are not putting your home on the market this year, it’s important to build equity and increase the value of your home. Here are ways for you to increase the value of your home in 5 steps.
1. Check Your Curb Appeal – Just like the old saying goes, “you only have one chance to make a first impression.” This is true for your home. How does it look from the street? Use a critical eye as your view your house. Is your landscaping maintained? There are several ways to increase the value of your home by improving your landscaping.
• Plant colorful flowers in your yard or in pots.
• Add low-voltage landscape lighting
• Paint your front door a different color
• Edge your sidewalk
• Trim overgrown bushes and trees
2. Easy to Maintain – Most home buyers are not interested in making major repairs right away. Here are a few suggestions to convince buyers your home is easy to maintain:
• Replace old carpeting with hardwood or laminate flooring
• Replace old wood siding with a more durable vinyl siding
• Replace the roof if necessary
• Replace outdated furnace or water heater
3. Energy Efficiency
• Add insulation to attics, crawlspaces, and basement
• Replace your roof with a “cool roof” with reflective properties designed to absorb less heat during the summer months
• Upgrade old windows with energy-efficient, insulated windows
• Although pricey, replacing your home’s HVAC system with a new energy-efficient model provides homeowners their biggest return on investment.
4. Bigger is Sometimes Better – According to OpenDoor.com, when estimating your home’s market value, size is an important element to consider – since a bigger home can positively impact its valuation. Suggestions for increasing your home’s usable space include:
• Adding a room
• Finishing a basement or a basement
• Building a deck
5. Smart Features Sell – We are not talking high-tech here. Homebuyers are interested in simple, functioning, modern safety features like:
• Smart thermostats
• Fire detectors
• Carbon monoxide detectors
• Security cameras
• Exterior lighting
Remember, even if you’re staying put this year, there are ways to keep your property in high demand so it can maintain the value it deserves.