As a homeowner, you have more control over the value of your house than you might think. While you can’t change your home’s location, neighborhood amenities, and other influential factors that play in its value, you can make a few crucial improvements to your property that will increase its worth. Whether you are looking to sell your house or make upgrades to a new home, follow these five tips, and you’ll be sure to see a return on your investment.
1. Update the kitchen
Nothing drags down the value of a home like an outdated kitchen. The kitchen is the first room in the house that will show its age. If your space has old appliances, worn-out countertops, and tired cabinets, it’s time for a remodel.
When remodeling the kitchen, the first step is to set a budget. Then, determine a plan for the remodel. Even if you have a budget large enough to tear out your existing kitchen and start over, this may not be the best financial decision. Assess how much your home will increase in value after the kitchen is remodeled and use that number as a guideline for how much you should spend on your renovation.
If you plan to sell your home in the near future, it may be in your best interest to focus on cost-saving ways to update your kitchen. Rather than replacing your cabinets, give them a fresh coat of paint. Don’t spend a fortune on top-of-the-line appliances, but it's essential to replace any that are outdated or broken.
2. Make Cosmetic Changes
Most rooms in the house only require a little love to look their very best. Make sure the bedrooms, living room, and dining room contribute to the value of your home by painting them a light, neutral color. This will not only allow your belongings to take center stage, but it will help each room look larger.
Ensure all hardwoods are well cared for by using oil to hydrate them or have them refinished. Replace worn-out carpets or have them professionally cleaned. If your home has carpet over hardwoods, consider removing it and having the hardwoods restored. Original floors that are in good shape will always increase the value of your home!
3. Boost the Curb Appeal
Ensure your home is ready to impress by sprucing up the exterior. By keeping the lawn tidy, planting colorful gardens, and making necessary repairs to the driveway, your home is guaranteed to appear in top condition.
Set aside a budget to make small updates outside of your home. Install a modern mailbox, attractive house numbers, and update lighting fixtures so that your property will stand out and appeal to potential buyers.
Above all, always stay on top of necessary repairs and cleaning. Keep your home’s siding free of debris and add touch up to any chipping paint. Clean the gutters regularly and replace warped roof shingles. By maintaining the condition of your home you will prevent extensive (and expensive) repairs down the road.
4. Focus on Energy Efficiency
While it may not be feasible for all homeowners to install solar panels or a tankless water heater, there are some simple upgrades you can make that will maximize your home’s efficiency. When upgrading your appliances, select energy-efficient models that will cut down utility costs. Install a smart thermostat that will automatically adjust the temperature based on the time of day. Improve the seals on your windows, replace incandescent light bulbs, and install a low-flow showerhead.
5. Declutter
Nothing makes a home look smaller than clutter. Whether your rooms are crammed with furniture or every surface is covered in knick-knacks, too many belongings will make a home feel cramped and chaotic. To make your home appear more spacious, use your storage wisely. Install shelving and use smart organization techniques to make the most of closets and other storage spaces. As you go through your belongings, be discerning about what you plan to keep and what you’ll donate or discard. This will help you maintain a tidy home in the future.
When it comes to increasing your home’s worth, you don’t have to spend a fortune. Above all, make thoughtful choices when making improvements to your property. Follow the tips above, and you are sure to see a strong return on investment!