Almost two-thirds of homeowners believe that their home’s value will increase over the next ten years. If you believe that your property is one of your most considerable assets, it’s essential to learn how to take care of it. Fortunately, there are ways to help you increase its value over time. So whether you’re aiming to build your equity or plan to sell it in the future, here are a few ways to help you boost your home’s value.
Effective Ways to Boost Your Home’s Value
Consider Its Curb Appeal
One of the first things that people notice with your home is its curb appeal. Curb appeal refers to how your home looks from the street view. Your curb appeal is your first chance to make an excellent impression on potential buyers. That’s why your property’s exterior should always be presentable.
One way to do it is by maintaining your existing landscape. If your yard appears dull compared to the rest of the neighborhood’s properties, you can always consider planting flowers. You can
repaint the front door too.
Renovate the Kitchen and the Bathroom
There are several remodeling projects that will boost your home’s value. But if you’re looking for something worth your money, then it would have to be the kitchen and bathroom renovations. Forbes Magazine states that millennial homeowners are twice as likely as baby boomers to consider renovating their kitchen and bathroom. Most millennials would compromise their properties’ condition and size to afford homeownership. Some would even consider buying older homes that need repair instead of getting new ones too.
Experts say that kitchen renovation will likely give you one of the most significant returns on investments when done correctly. So consider replacing your old kitchen appliances with something new. You can also reface outdated cabinets if possible. However, you don’t need to renovate the bathroom if it isn’t necessary. You can change a few minor elements to give your space a different feel without overspending.
Add Square Footage
Most people are looking for spacious homes. If you have areas where you can remove a wall, do so. Another way to make your area larger is by adding square footage. You can add square footage by adding another room like a family room or enclosing a porch. Bear in mind that spacious homes often have higher values, which buyers often notice.
Adding square feet can have an impact on a property’s value. Also, the price per square foot can help buyers compare homes that have a similar style. Besides adding a room to make your home more extensive, you can also build a deck or an outdoor living space. You can consider finishing the basement to create extra living space too.
Turn It Into a Smart Home
Smart technology has recently become famous in the past couple of years because of its energy efficiency and other benefits. Now, homebuyers are considering this feature, especially when it comes to their future home. They often consider safety-enhancing gadgets as part of their priorities when looking at houses. These devices include fire detectors, smart thermostats, and carbon monoxide detectors. Meanwhile, others look for smart security cameras and even door locks.
While innovative technology doesn’t automatically add to its value, it does make the house more appealing. Those people who consider themselves tech enthusiasts would likely pay more to get their hands on a smart home. Also, it’s much more affordable than renovating a bathroom or changing the roof.
Make It More Energy-Efficient
Homes with energy conservation features can boost a property’s value. If you want to turn your home into something more energy-efficient, consider adding double-paned windows. You can also enhance your attic insulation to save on energy. It’s advisable to get all the lights replaced with LED lighting too.
If you have more than enough budget to spare, then putting solar panels is the best way to go. Solar panels are a considerable investment. So it only makes sense if you’re aiming to increase your home’s value over the long term. You can also schedule a meeting with a certified energy auditor beforehand. Then, they’ll assess your property and determine where you’re wasting energy.
It’s Time to Boost Your Property’s Value
While it’s understandable that you’d want to improve your property’s value, it’s also best to be cautious about it. Only choose projects that fit your budget. You don’t want to splurge on renovation projects where you won’t see a return on your investment.
Before you start to renovate, you can speak with experts first to make the best decision. The Nickley Group has a team of top-selling real estate agents in Florida to help you sell your property effectively. Send us a message now so that we can help.