Owning a home is considered a significant investment in the U.S, with the majority of individuals holding the belief that the home’s value is bound to continue increasing. If you plan on reselling the house after living in it for a while or considering house flipping, increasing its resale value will help you profit from the property. From upgrading the bathrooms, improving the air quality of the home, and increasing the square footage, here are some unique ways to improve the resale value of your home.
Tips to Increase Your Home’s Value
You can undertake several projects to improve your home’s value, and since it can be challenging to decide on the type of home improvement project, here are a few tips to help you make a decision.
Install Energy Efficient Appliances and Features
Investing in energy-efficient upgrades in your home is a great way to increase its value since it will considerably decrease the new homeowner’s energy bills and related expenses. Buyers are willing to purchase homes where cost-effective features are integrated into their designs. Some of the options you can implement include the following:
- HVAC Upgrades and Installation – Installing an energy-efficient HVAC is a costly upgrade that promises good returns on the investment. The air conditioning system in your house and the furnace are the biggest energy consumers, and replacing the system can save a significant percentage of this expense. You must consider purchasing an HVAC system with a minimum seasonal energy efficiency ratio of 15 and a high energy star rating.
- Insulation – Insulating your house is an excellent way to prevent energy loss, which helps increase the home’s value. It is cost-effective and efficient, especially when added to the exterior walls, basement, and attic.
- Upgrading the windows – If you are keen on adding aesthetics to your home as you increase its value, upgrading windows can help you achieve both. Consider installing impact glass with double panes for more working efficiency and built-in storm protection.
- Installation of Solar Panels – A green home will attract buyers who are conscious of supporting Going Green efforts and those who want to reduce their monthly energy bills considerably. The solar panels will increase your home value by providing an alternative source of energy that is pocket-friendly.
Improve Your Curb Appeal
Curb appeal describes the outward appearance of your home from the front lawn or street. Having a great impression from the outside is an excellent way to increase the value of your home and give you a better price bargain. The beauty of investing in curb appeal is that it cannot be quantified, yet it adds to the home’s overall value. Here are some of the best ways to improve your curb appeal
- Fence your Yard – A fenced yard makes the home feel organized and well defined. The fence also makes the home feel more private and secure from disturbance, prying eyes, and unwanted visitors. In turn, people are willing to pay high prices for privacy and security, increasing your home’s value.
- Add Outdoor Lights – This strategy of increasing your home’s value is cost-effective and straightforward, yet it is efficient in marketing your home to passersby. It also serves as a source of security to deter burglars and other intruders while improving the aesthetic look of your home and making it practical to move around outside.
Conduct a Kitchen Renovation
The kitchen is one of the most scrutinized parts of the home before an individual makes a purchase and is considered a deal breaker if it is below the buyer’s expectations. The kitchen renovation may range in value, starting from simple renovations such as repainting the kitchen walls, matching the counters and cabinet handles to more costly renovations such as replacing the cabinetry or upgrading to stone countertops.
Some of the updates you can include in your project to increase the home value include refacing the cabinets, refinishing them, and changing the kitchen lights. Among the most effective ways to improve the home’s value and attract buyers is by investing in modern kitchen appliances.
Upgrade the Flooring
The flooring can considerably increase the home’s resale value for a higher price. Various kinds of flooring, such as carpeting and changing the tiles, can help remodel the house. The flooring upgrade that fetches the best price in the current market is tile flooring, especially in the home’s main areas, such as the living room. Also, consider hardwood flooring, especially in rooms.
Consider the various hardwoods, including black cherry, which comes with a cinnamon tint and grows much darker as it ages. The white ash comes in a much lighter color, while stained oak is the most widely used wood strip on the floors. You should select a wood floor that is sturdy yet elegant to get the best finish.
Add an Office Space in the House
Having an extra space dedicated for your office work when at home can help increase the value of your home. With several organizations adopting remote work options, investing in a home office will increase your home’s value as it offers convenience to would-be buyers. Consider renovating the space to include shelves, proper lighting, and ventilation to ensure comfort.
The returns you stand to gain by increasing the value of your home through improvements are far much greater than the initial cost of investment. If you are planning to increase the value of your home, consider the above tips.