How to Increase the Value of Your Home￼
One of the biggest goals of our blog is to provide education on the construction industry so that you can make well-informed decisions regarding your home. Our goal is to make sure you are happy in your home for as long as you want to live there. But sometimes things happen, and you have to move. And when you’re ready to move it’s better to be prepared by ensuring your home’s worth is as high as possible.
That’s why in today’s article, we’re going to give you some tips on how to increase the value of your home. Not every home improvement project has to be extravagant or incredibly expensive, by the way. Oftentimes, simply making the most of what you currently have provides a substantial boost to property value.
Alternatively, remodels (particularly to kitchens and bathrooms) are a great way to not only entice buyers, but of course, give you a more enjoyable experience in your property for the time you live there.
Common ways to increase your home’s value
Whether you’ve just bought a house and have been living in it a few months, or have owned your house for a decade, there are many ways to increase its value. The truth is that you don’t have to wait to get started. You can begin boosting the value of your home the first year you own it.
Obviously, the main goal with home ownership of any kind is to be happy with the space in which you live. However, should you ever decide to move out and sell your home down the road, you want to get a return on your investment. Ideally, you can have both a quality living space, and a large sale price, once you’re ready for the next stage of life. Here’s how to make both of those happen:
Bathroom and Kitchen Remodels
If you’ve considered renovating your kitchen or bathroom, there’s never a bad time to get started. In fact, most people believe bathroom and kitchen updates to impact resale value the most. In any case, there’s no denying that renovating your bathroom or kitchen is a great way to improve the value of your home by at least a reasonable amount.
People love to personalize their homes (kitchens and bathrooms make for excellent spaces to do so). They want to make sure that the home is usable, and is not worn down when it comes to bathroom and kitchen spaces. Plus, remodeling bathrooms and kitchens are just sort of “what people do” when it comes to home renovations. It’s part of our culture.
So, to wow potential buyers – and to make the most of your own desires to personalize your space – look into remodeling. The value you get per dollar spent is almost unbeatable.
Landscaping is another great way to increase the value of your home, and it’s also one of the easiest and most affordable ways to do it. Oftentimes, landscaping is the way that particularly new homeowners increase the value of their homes the most. It’s easy to do, and though it’s not overly expensive, it can greatly improve the value of your home.
It’s common sense, really. The better your home looks on the outside, the more people are going to want to buy. But if you’re a first-time homeowner, you may not know exactly what to do. One of the best things is to plant native trees in places that offer shade to your house. The best part? Shade from the trees can also save you up to 50% on your energy costs during warmer months.
Add Square Footage
Though it might seem obvious, you can dramatically increase the value of your home by adding to its square footage. More space inside your home means that there’s more to sell when it comes time to move out.
Having a larger home also means that your home has increased versatility for anyone looking to purchase. If you add an office to your current home’s layout, for example, it’s possible that a young family may buy your home because they can turn the extra space into another room, or a play space for their kids.
Home Cleanliness and Upkeep
It’s impossible to talk about how to increase the value of your home without also talking about properly cleaning and maintaining your property. There’s no denying that simple and manageable as it is, it’s a great way to sustain, or even boost your home’s value. Keeping a clean house is more than just keeping your property pretty, though. It’s also about staying on top of any potential problems.
If your home needs general upkeep, maintenance, or repairs, take care of those issues right away. Think of them as opportunities to maintain the value of your property. The sooner you head off any potential maintenance issues, the less costly they are for you, and the more likely someone else is to purchase.
Also, if you don’t know what’s wrong with a part of your property in the first place, it’s impossible to take care of problems. Not only should you do your best, personally, to watch out for issues with your home, but it’s also a good idea to hire professionals to occasionally come by and look at your home as part of a maintenance visit.
Proper cleaning and maintenance also keep things like mold from causing damage that could lower your home’s value. It’s much easier to occasionally clean your house than it is to deal with mold colonies, unchecked water leaks, termites, cracked foundations, or any of the other large-scale issues that may negatively impact your property.
You can also increase the value of your home by making it more energy efficient. Energy-efficient features like double-paned windows or solar panels on the roof can greatly increase the value of your home. Future homeowners like to know that they can save on their utilities, as well.
Making your home more energy efficient saves you money in the short-term by reducing your electric bill, and in the long-term by increasing the value of your home. It’s really a win-win situation for you, and a winning proposition for a buyer.
Keep an eye on current housing trends. If people prefer more open home designs, consider having a contractor pull down a wall to open up your floor plan, before selling. You should also try to stay aware of the costs of other homes in your area. If the most expensive home in your neighborhood is going for $300,000 and your house is already worth $285,000, committing to serious renovations may not be the best idea. Still, increasing the square footage, landscaping quality, modifying your home’s design, or installing other amenities is a great way to increase its value.
Maximize Your Home’s Value
At Western Constructors, we want to make sure that you have a good experience with your home, whether you’re buying one for the first time or maintaining your current property. It’s our genuine hope that our blog helps inform you to make the right decisions.
We’re dedicated to educating our community because we know how important it is for you to understand the construction industry. The more you know, the better decisions you can make for yourself, your home, and your family.