With all of us spending more time at home over the last year, it’s hardly surprising that so many people turned to the already competitive housing market to find a new place to live in. On the other hand, some of us stayed put, renovating instead to make the most out of the houses we love and know. Here are some ways you can increase the value of your home:
How to make the most out of your house
Invest in more living space
Adding usable space to an existing house may make a lot of financial sense, particularly in regions where accessible real estate is scarce and room and land are restricted. Homes are evaluated and priced based on the number of living square feet they have, and the more usable square feet they have, the better.
Consequently, expanding a bathroom, a dining area, or any required area to a house may improve utility while also increasing value.
Adding a separate suite is also a good option; most homes lack this feature, so having one sets you apart from the competition when it comes time to sell.
So as early as now, you need to start looking into a budget for the renovation. You will also have to incorporate house renovation project manager costs into your estimates if you decide to hire a project manager to oversee the entire renovation project.
Do the cleaning or hire professionals
According to a 2019 HomeLight study, professional cleaning and cleaning your house may add more than $4,000 to its selling value. Buyers like a clean, immaculate home, but even if you don’t intend to sell, you may invest in making excellent use of your property, being more organized, and getting a lesser mess to worry about.
While cleaning and decluttering are cheap, they nevertheless take a significant amount of effort. Start by looking through cupboards and closets and creating a charity pile. Clear out your home’s drawers and other storage places as well, ensuring sure you’re not storing things you don’t need or desire.
Invest in efficiency
Many methods that enhance your home’s efficiency do not need tens of thousands of dollars in improvements. According to Scott Ewald of Trane, an HVAC provider, adding a smart thermostat is a fantastic method to increase efficiency and save money.
The proper smart thermostat will enable a homeowner to regulate the temperature of their house from anywhere, providing them the ability to manage energy expenses whether they are lounging on the sofa or vacation.
Such in-home technology, especially when linked to the HVAC, the house’s most effective mechanical system, offers a powerful selling point and emphasizes comfort, efficiency, better energy consumption, and simplicity.
Invest in a new color palette
Paint is magical, and this is true whether you are painting the interior or exterior of your house. A new coat of paint can transform even the most antiquated backdrops, and interiors seem brand new, and it isn’t that costly. According to you should begin by repainting any rooms with an “unusual” color theme.
Did you, for example, allow your then-11-year-old child to color her room hot orange 16 years ago? If that’s the case, that’s an excellent place to start.
Invest in the exterior
Enhancing visual appeal is a significant thing that can be done to increase the profitability of your house. According to a 2020 joint research by the University of Texas at Arlington and the University of Alabama, curb appeal may contribute to up to 7% of a home’s worth. There are many methods to improve your curb appeal.
For example, an overhaul landscape improvement can go a long way. A new cobblestone deck or outdoor kitchen may help increase the value of your house while also making it more pleasant and comfortable if you don’t intend to sell right away.
Upgrade your kitchen
Many buyers focus on the kitchen as the most critical aspect of a house, so it may influence how much you get from a sale if yours is antiquated. Similarly, you will not be utilizing the area if you cannot properly use your kitchen due to layout, size, or other issues.
If upgrading your whole kitchen is too much of a commitment, a small renovation – such as matching appliances and putting contemporary accessories on your cupboards-can still affect the value of your house.
We hope these ideas assist you in determining which home improvement improvements to undertake for yourself and your house sale. Don’t forget that regular preventive house maintenance may save you hundreds of dollars in the long run, so don’t put off spring cleaning!
Furthermore, even the most Wi-Fi-enabled bright house in the world will not demand a higher price if the gutters are blocked and many roof shingles are missing. Also, while considering renovating your home before selling, keep in mind the area and the potential customer.