Your home is one of the biggest investments you will ever make. It is where you will live and perhaps raise a family. You want to take care of it to the best of your ability and make sure it does not lose any market value. Regular upkeep and maintenance will take care of this.
Whether you choose to live in your home for many years or decide to move shortly after you buy it, you would like to make money when you sell it. Property values can fluctuate, and this may afford you some profit when selling your home. This is not something you can depend on, as recent history as shown.
A better way to ensure that your home will be worth more when you put it up for sale is to perform some home improvements that are designed to increase its value. To accomplish that goal, you may need to rely on a home improvement loan from a reputable home finance company like Hearth.
Here are 5 home improvements that will increase the value of your home.
A fresh coat of paint will make your home look better and sell more quickly, while also protecting your home’s surfaces. When getting ready to sell you don’t need to paint everything, according to Consumer Reports. Instead, concentrate on high-traffic areas like kitchens and bathrooms. Exterior doors should look good and be scratch free, to entice potential buyers during your open house period.
Avoid dark or overly bright colors, sticking to color schemes concentrating on whites and off-whites, as these neutral color palettes allow the prospective buyer to see the space as their own. These colors also appeal to buyers of all age groups. It is worth the money to go for a high-quality paint, as the look and feel will be noticeable. This is the type of improvement that can be done by the homeowner or by hiring a professional to do the job.
Upgrading your kitchen is a great way to impress home buyers and increase the value of your home. The new generation of homebuyers, namely the millennials, are particularly interested in having a modern and updated kitchen. A coat of paint, new appliances and countertops, and some new flooring can make a big difference in increasing the asking price for your home.
Looks that are particularly popular these days are the contemporary and clean design of stainless steel, including black stainless steel for a slightly more subdued look. Quartz countertops are also a big attraction and can round out your kitchen with a distinctive look.
There are many areas of your home where energy efficiency can be incorporated into home improvements. These certainly add value to your home as the ability to save money on a monthly basis is a big selling point for any buyer.
One place to start is with your windows. Energy star certified windows can save upwards of 10% on heating and cooling bills. New windows can also make a difference in your home’s visual appeal. Upgrades in insulation can also lead to energy savings.
Consider going green and installing solar panels if your location and climate will permit it. In addition to saving money on utility bills, the fact that your home is environmentally friendly will appeal to a large section of home buyers. Replacing your hot water heater with a more efficient, tankless model is another option that will make your home more likely to sell quickly. Many homebuyers request two years of utility bills to ascertain their future costs,
Curb appeal has long been a catch-phrase in the real estate business, and it still holds true today. According to thisoldhouse.com, landscaping is one of the investments you can make that results in the most return on your dollar. Spending several hundreds of dollars on landscaping can net you 4 to 5 times as much in added value to your home.
Do not ignore the outside space around your house. Overgrown landscaping detracts from the visual appeal of your home and may drive prospective buyers away. Pruning and trimming your shrubs will make your house more attractive. You can also use the space to increase the livability of your home by the addition of a deck, patio, or outdoor seating.
Built-in grills, pools, and children’s play sets are all additions that you can consider that will add value to your home. Outdoor lighting to take advantage of the outer space at all times of day will also interest many homebuyers. These improvements will add to the enjoyment you get while you are living there as well as increasing the selling price when it is time to move on.
Technology is everywhere these days, and it can be incorporated into your home in a number of ways that add value and increase its appeal to buyers. One way is through the installation of smart, programmable thermostats that can be controlled remotely by a smartphone or computer. Other smart appliances can also be purchased to give your home a very modern feel that may draw in potential buyers, especially younger ones.
The seeming increase in devastating storms has brought issues such as power failures to the forefront of many homebuyers’ concerns. If you live in an area that is susceptible to power failures, you may want to consider installing a whole house generator. This serves the double function of ensuring your family has power no matter what the weather conditions, as well as being a big selling point when you are attempting to sell your home.
Many of the additions that increase the value of your home to buyers will also increase your enjoyment of the home while you are living there. These 5 improvements should be seen as a starting point in getting your house ready to go on the market and a way for you to maximize your return on this investment.
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