Purchasing a home is a significant life event. It’s also a long-term commitment to your financial security. While regular mortgage payments build equity in your house, there are improvements and modifications you can make now to raise its value and produce a considerable return on your investment.
Homeowners should seek simple, low-cost ways to raise the value of their property over time, especially if they expect to sell in the near future. Here are top 5 tips to get you started.
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1. Start Outdoors
With the outdoors, you can start small, since low-maintenance yards can be just as appealing as high-maintenance ones. If you are intending to sell, curb appeal is an important aspect to consider. First impressions last, and a first glance can entice a buyer to look further. Make sure your bushes, trees and lawn are neatly trimmed and well maintained. Remove any dead vegetation and store your hoses neatly or hide them away.
Indigenous plants and shrubs alleviate unnecessary watering and care. An irrigation system is a great investment that adds value to your home. Consider adding a water feature as a focal point in your garden space. Seasonal flowers can add a splash of color to your flower beds and brighten the yard as a whole.
If you have a pool, make sure it is kept in top condition, as this can be a great selling point for buyers looking specifically for homes with pools. Consider enhancing your outdoor entertainment area with decking, a fire pit, a built-in BBQ or even a pizza oven. All of these can add to the appeal of your home. You can enjoy these items yourself if you are not planning to sell just yet! Entertaining at home has become very popular and these additions will make your home that much more welcoming.
Outdoor lighting also adds value to your home by making it aesthetically pleasing and inviting. Simply adding uplighting to a few trees can create a warm ambiance.
A new mailbox and house numbers also add to your home’s overall well-maintained look. Keep walkways and driveways free from weeds, and repair cracks wherever possible. Replacing an outdated garage door can boost your home’s curb appeal immensely.
A good-quality fence can add beauty, style and value to your home. Not only does it offer security, but it can also help to make your yard into your private oasis in the suburbs. Vinyl fencing can increase your home’s value greatly, as it is maintenance-free and designed to withstand the elements.
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2. Update the Exterior
Make sure your roof is in good repair, with all the tiles securely fixed. Ensure there are no signs of dampness visible in the house, indoors or outdoors.
Power wash your house’s exterior at least once a year to keep it looking clean and fresh. Painting your house is a relatively low-cost way to transform its look, and it makes a big impact on sales. Alternatively, consider vinyl siding, which adds value and is fairly low maintenance.
Swap out old windows for vinyl ones that can reduce noise from outside, lower your energy bills and add value to your home. Replace or resurface the front door —this is the portal to your home, so be sure it makes a good statement about what to expect indoors.
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3. Make Improvements Indoors
There are several ways you can increase your home’s value indoors. Some of these options are more expensive than others. Start small and simple and you may be surprised at the difference it can make.
Add modern touches to your home by replacing brass doorknobs and locks with brushed nickel ones. Replace faceplates and wall switches with wooden, ceramic or metal varieties to add a better aesthetic appeal. Remove carpets and opt for tile or engineered wood floors that are easy to maintain. Swap out old light fixtures for more modern ones and make sure to use LED bulbs in all your lighting.
The kitchen and bathrooms are the main areas you should consider, as these can be strong selling points of a home. In the kitchen, consider updating appliances to stainless varieties. Old workstations can be given a new life by adding quartz or granite countertops.
If you cannot afford to replace the cabinets, consider replacing the doors, or paint the old ones and fit them with new hardware. Update your sink by adding a modern-looking faucet to enhance the look of your kitchen.
Bathrooms should be kept spotless, so make sure to replace any chipped or cracked tiles. You can even re-grout the shower tiles as an inexpensive DIY task. Rather than replacing your bathtub, why not have it reglazed? Replace the old mirrors and install some floating shelves. By simply adding a new toilet, you can upgrade the general feel of the whole bathroom.
4. Think Green
Today, greater emphasis is being placed on eco-friendly features within your home. These can significantly improve your home’s energy efficiency and thus provide a strong selling point. Double-paned windows and attic insulation can reduce heating and cooling requirements, while energy-efficient lighting and appliances assist further in these endeavors.
Solar panels are becoming a sought-after addition to homes. Upgrade to a smart thermostat, as well as smart fire detectors and carbon monoxide detectors. Smart security cameras, smart locks and smart lighting systems add further appeal and value, especially for techno-geeks.
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5. Increase Space (If You Can)
Open concept floor plans, which allow one area within the house to flow into the next, are appealing. You may consider knocking out some walls to make your home feel and look bigger. Perhaps you have an unfinished basement or another area that can be built out. This can add value to your home.
Make sure to finish up any minor repairs, like leaky faucets or cracked plaster, broken windows or missing screens, and even dented door jambs. These small things can be the difference between your house looking well maintained or run down.
To capitalize on your home’s value, you need to make some investments in keeping it in top condition, not only if you are intending to sell, but also to provide you with a home you are proud of.
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