Boost Your Homes Value With These Tips
Your home is probably your most expensive purchase. Even though you don’t plan on selling it right now, you still want to ensure that when you decide to do so in the future, you want to get more than what you invested.
Beautifying your home and ensuring that it remains in good condition are two of the best ways to increase the resale value of your property. Experts recommend allocating money equivalent to 1% of the value of your home for annual maintenance and improvement. Thus, if your home is worth $500,000, you have to set aside $5,000 for your maintenance cost.
Don’t think you’re going to spend a fortune. There are practical, inexpensive ways to increase the value of your home that many real estate agents, home sellers, and buyers swear by. However, there are some things you can do create more profit by the time you sell it.
Ready to learn about these? Keep reading and you’ll learn the best improvements that will increase your home value. Putting more money in your pocket is always a good thing right?
Renew your house paint.
Repainting is probably the easiest and cheapest way to update your home. But don’t underestimate its impact. In fact, repainting (especially the bathroom with powder blue and periwinkle) can actually increase a home’s value by up to $5,440, on average! Even if you prefer the traditional white color, you might want to be a little bolder when it comes to the color schemes of your bathroom and kitchen. These are big focal points of your home which can add to the price tag.
Put up a nice landscape.
Just as you want the inside of your home to look great, you also want to add curb appeal to your home exterior. One easy way to do that is to clean your lawn and put up a landscape. It doesn’t have to be as luxurious as the ones you see on the magazines. Some DIY projects like that on Pinterest and YouTube will certainly work fine! Furthermore, you don’t need a big space. Actually, smaller gardens are more in demand this year! Nonetheless, your garden should have multiple uses.
For instance, fire feature that serves as a backyard campfire may be used to collect water from your house downspouts. When picking plants, choose those that are native to your region, and require less maintenance.
Get rid of pests.
Pests are every homeowner’s property. Not only do they pose serious health and safety risk to you and your family, pests can extremely wreck your home’s value. Termite infestations, for example, can cause thousands of dollars. If you live in an area wherein termite problems are common, get your home inspected regularly. Other pests, such as cockroaches, rats, bedbugs and fleas should also be addressed the soonest.
Converting unused space into something functional and beautiful is a surefire way to increase the resale value of your home. And sometimes, you just need to look up and down to get some nice ideas in revamping your space. The attic, for instance, can be a converted into an additional room to serve as a guest room, or a nook for studying.
The basement, on the other hand, can be transformed into a cozy family room or entertainment space. Your porch can be an extension of your living room while the space behind your stairs can be turned into a mini home office. These appealing additions (without the need to knock down a wall) can totally catch the attention of home buyers.
Update your kitchen and bath.
A full home renovation can be a very expensive undertaking. A good strategy is to update your home one room at a time. But if you ever get to choose which one to prioritize, go for the kitchen and bathroom. These are two major areas that affect the value of your home.
Consider changing the floor, the sink, the countertops, and cabinets as you see fit. Updating your kitchen appliances is a great idea as well. Lighting is important too. Installing some nice lighting can make your bath or kitchen look more stylish and expensive.
Love the open concept.
Does your home look so tight and narrow? Check which spaces are least used and consider knocking down a wall to achieve a bigger space and greater balance. But, you want to make your open concept more cohesive. Consult a home designer about how to achieve an open floor plan that allows for smooth transition between rooms or areas, in which the cabinets, floors and coverings complement each other.
Keep it clean.
It’s pretty obvious – decluttering your home keeps it pretty. Maybe there are items which you bought years ago that you no longer need but still take a huge amount of space in your home. A good approach to decluttering is to take a look around your home and check which items no longer give you joy or don’t serve a practical purpose anymore. Consider hiring a professional organizer if you need to. Certainly, less is more!
Make room for additional storage.
Many people are loving the idea of having additional storage in their home. Whether it’s a hidden storage underneath your sofa, built-in shelves on your walls, extra table beside the oven, toiletry canisters under your bathroom sink – you and the future owners of your home will surely be thankful!
Selling a home at the best price possible is not an easy journey. There are several factors to consider, and that includes economic indicators and market trends. Keeping your home in good shape can greatly pay off.
Whether you’re looking to let your home and save money to pay off your cash advance online loans and bills or save money for emergencies, or sell it in the near future, you can get a nice income if you will take care of your property.
Hope these tips have given you ideas and inspiration to update your home, make it prettier and more functional, and increase its price tag.
Author’s Bio: Lidia Staron has been working as a writer, editor and literary coach for 5 years. She contributes articles about the role of finance in the strategic-planning and decision-making process. You can find really professional insights in her writings.