Last Updated on February 18, 2023
You can add value to your home for many reasons. With interest rates going up, you may want to sell and move into something smaller. You may not have a selling time frame in mind, but you want to increase the price you could conceivably charge should the time come. Also, some people want to make improvements to their home to make it more liveable, with the added benefit that it boosts value. Whatever the reason, there are certain improvements you can make that get you the most bang for your buck and some that make your home more appealing to buyers. Here are 8 of the best ways to add value to your home.
Energy Efficiency
Energy efficiency is important because not only is it environmentally friendly, but it can also save you money. New homeowners will be looking for the same benefits. Also, if you have inefficient spots in your home, the buyer will realize that they will have to upgrade. For example, install new windows and doors if your current ones have started to leak air from the inside. Replace your HVAC system if it’s old and outdated. You can even replace your appliances if it is warranted. It will add value to your home and let you and the buyer save money on utility bills in the long run.
A Fresh Coat of Paint
One of the best bangs for your buck that you can get is simply applying a fresh coat of paint. It’s amazing what a difference it makes. It can make a space seem cleaner, brighter, and more refreshing. Your space will look like it’s newly renovated, even if it isn’t. Choose a neutral color to have a wider appeal. Along with the paint itself, painting will encourage you to do other things as well. For instance, you can clean the room you are painting, including the walls and doors. You may also choose to move the furniture around. You could have a totally new room for the price of a can of paint and a roller.
Finish Unfinished Spaces
Of course, a home will be more valuable if it seems…well…complete. You could try to finish any unfinished space in your house. Usually, that’s the basement. You can put it in storage space, but shelving or racking. Or, you could put it in a living space, like a bedroom or rec room. It is very convenient to have a basement area for your kids to insulate themselves from the noise. Also, finishing the space will mean inspecting it for any leaks or structural issues. You can kill two birds with one stone.
Add a Deck
People nowadays want their yards to be an extension of their homes. That means that adding a deck can significantly boost the value. Reputable deck builders can put in any kind of deck with many options for you to choose from. You can get a hot tub for spending evenings outdoors with a glass of wine. You can build a barbecue into your deck, with tables and a prep area. You can even have a television and sofas. Now there are more options than ever for your deck. It will make the home much more attractive to buyers and give you a space you will love.
Landscaping
Improving a home’s curb appeal is one of the most important things to make it appealing to buyers. How your home looks on the outside will go a long way toward how it is perceived by people who might purchase it. You never get a second chance to make a first impression. You can do little things around your home with landscaping that make a big difference. For instance, you can plant some shrubs or have flowers in strategic places. You can also plant trees to give your property a more natural setting. If you want to go big, you can re-sod your entire lawn and start over. Sometimes that is a necessary move to refresh the look of your property.
Additional Dwelling Units
An additional dwelling unit (ADU) is a structure built on your property as a living space. It is a great place to have a home office that is free from the distractions of home. You can also have it as an in-law suite or a space where a college-age child can have some privacy and independence. As the homeowner, you can even rent this space out for some revenue. The buyer will like the opportunity that this structure gives them. They will have the chance to make rental income or have extra space for their family.
Kitchen and Bathroom Upgrades
The most important rooms in your home for living and selling are the kitchen and the bathrooms. If you can give them upgrades, you can significantly affect the value of your home. For instance, installing new appliances is a great start. Also, update the fixtures, and add more useful storage. For a bathroom, consider replacing your old shower with something modern and spacious. In the kitchen, something even as simple as paint and a new backsplash can make all the difference.
Maintenance and Repairs
Buyers will want to know that the home was well cared for. If you are knowledgeable enough, you should have regular inspections done of your home, either by professionals or yourself. Keep records of everything so that you can show potential buyers. Make repairs and tweaks as soon as you notice something. You do not want them to develop into something worse down the line.
Adding value to your home can be done with a big change or a little one. It depends on how much value you want to add and what your budget is. There’s no doubt that these changes to your home and routine will allow you to boost your ask and increase your profit.
