Home Improvements: How to Add Value to Your Home
Deciding to own your home is probably the biggest financial decision that a person makes in their life. Whether you live in your home for two years or the rest of your life, it can end up paying dividends as someone builds equity on their home and property. Though there are exceptions to the home that cannot be changed including location, local demand, and the housing market as a whole, that does not mean a person cannot upgrade and change the appeal to get a higher selling price. So here are a few different ways that you can do to start adding value to your home:
1. Invest money into the kitchen and bathroom.
In the real estate industry, agents will tell you that the kitchen and bathrooms are some of the most important features in a home that helps it sell. Redoing these main rooms can offer you a 100 percent or greater return on the investment, which means you will be getting your money back or more for what was spent. To reach over what you spent can depend on the different finishes that were chosen, how much labor you are willing to do yourself, or how much of an upgrade is needed depending on the home’s current condition. This is one of the easiest ways to increase the value of your home, especially if you are on a budget.
2. Update the finishes on your home.
Small changes like putting a fresh coat of paint on your walls can make a huge impact on buyers. This can be a simple, cost-efficient way to get buyers interested in the home. Real estate experts said putting a fresh coat of paint throughout the house could increase the sale price by as much as 5 percent. You could also replace other small things like old light fixtures, or you could put new outlet covers on.
3. Use your green thumb.
Some people may not think planting is the easiest thing in the world, but this can go a long way in your home’s appeal. You can do some simple landscaping that is shallow on your bank account as well. Some easy things to do to liven up your yard is to put new plants and some fresh mulch to grab a buyer’s attention right away. This will not cost you much and you can do it all on your own without having to hire a landscaping company and will influence both the buyer and the appraiser.
4. Cut some energy costs while you are at it.
Energy costs within a home may seem like a fixed amount each month, but there are different ways to lower that bill. Many local utility companies will offer free energy audits of your home, and they will show you how to maximize the energy efficiency in your home. If you make your home more energy efficient, you can save your money now, then later be applied to other updates, and will make your home more valuable in the long run.
5. Declutter and depersonalize your home.
Buyers want to see the space that they are going to be living in, like the condition of the walls, floor, and spaces. Having all the clutter and mayhem throughout the walls and floors can make it difficult for buyers to see themselves living in your home. No one is going to have the exact same design taste of how they would decorate their home, but if you remove some personalized items buyers can visualize themselves living there. Although it may add character to your home, it may not necessarily mean it will add to the value of your home. With these ideas, you can sell your home to make some profit and feel satisfied with making improvements that built equity in your home. These budget-efficient tips will turn your home completely around and will end up improving that sale price.
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