Are you looking to increase your home’s value?
Your home is more than just a place to live. Smart homeowners see their home as an investment, and one of the best ways to build wealth over time is with home equity.
Many homes will appreciate over time, even if you do nothing but take care of them, but there are certain upgrades you can make to your home that will make the value increase even more.
So, what increases home value and what isn’t worth your time? To help you get started, here are five things you can do that will have a big impact on how much your home is worth:
1. Remodel Key Areas
Remodeling outdated rooms are one of the best ways to increase the value of your home quickly. Kitchens and bathrooms are some areas of your home with a good return on investment, but you shouldn’t ignore the details of your home as well. Replacing floors or adding new finishes like windows and doors will also make your home look newer and add value.
You can also remodel the outside of your home. A new roof, siding, or a deck in the front or backyard will add value and curb appeal to a house. Remodeling can be expensive, but a small investment up front can have a large payoff when it’s time to sell your home and even attract cash home buyers.
2. Add Updated Appliances
Even if you don’t have the budget to remodel rooms fully, you can still make small updates to add value.
Purchasing new appliances is a good place to start. You can buy new kitchen appliances like an updated refrigerator or stove. You can also update systems in your home like the AC unit, furnace, or water heater. When you sell your home, the newer these items are, the more money you’ll be able to ask upfront.
3. Install New Technology
Smart homes are gaining popularity, and technology features are an easy way to increase any home’s value. Smart thermostats, security cameras, smoke detectors, locks, and lighting systems are just a few technology gadgets on the market today that will make your life easier while helping your house appreciate.
4. Make the Home Energy Efficient
Increasing your home’s energy efficiency isn’t as glamourous as new appliances or granite countertops. Still, it will help drive up your home’s value and help you save money on your utility bills as well. Consider investing in energy-efficient windows, heating and cooling systems, appliances, and even solar panels to give your home a green boost.
5. Add More Square Footage
As a general rule, your home’s square footage has a higher value, so adding on to your home is a good idea, especially if you can add another full bedroom or bathroom.
You can also take existing square footage and turn it into livable space. For example, you can finish your basement or transform part of your garage into a home office or gym.
Learn More About What Increases Home Value
Updating your home to increase value is a good investment for your future, so long as you choose the right updates to make. Not every home improvement project will give you a good return on your investment, so make sure you take the time to research every remodeling decision you make.
Check out the rest of our website to learn more about what increases home value!