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3 Ideas to Affordably Increase the Value of Your Home

Written by Posted On Saturday, 20 January 2018 01:42

There are a variety of reasons why you might want to increase the value of your home, but the most common one is that you want to be able to charge a higher price when you put it on the market.

If that’s the case, your priority would be to get the most possible bang for your buck in terms of raising the value with the least expenditure. You need to find the perfect balance between spending just enough and spending too much so you don’t expend money on things that won’t have a commensurate effect on your home’s value.

Here are a few affordable options that are definitely worth spending money on:

Add a Bathroom

The value of this depends on how many bathrooms are in the house already. For those homes with only one or two, you can recoup the entire investment and even make some extra in increased value.

Look around the house for any spaces that are under-utilized and spacious enough for a bathroom (from 18 square feet for a half-bath to 35 square feet for a bathtub placement). Work with professionals like Lock Stock & Barrel to choose the accessories carefully and prioritize quality, since many homeowners will be looking for that over just looks.

You can get great deals by keeping an eye on the deals that come up at Home Depot and other similar stores. You’ll often find great deals on sinks, tubs, doors, toilets and other fixtures that you need to complete the project.

Replace Your Windows

If you don’t already have energy-efficient windows in place, that should be the first point of focus. According to Energy Star, the new windows can cut up to $500 from your annual energy costs by making your home more energy-efficient.

Potential buyers will definitely appreciate any feature that’ll help them spend less in the maintenance of the home so it’ll be a great selling point. While the home is still on the market though, you’ll still be benefiting from the lower energy costs, green energy tax credit and any additional credits available in your state or provided by your utility company.

Remodel the Kitchen

People generally consider the kitchen to be one of the most important spaces, and buyers often make buying decisions based on their appraisal of the condition of the kitchen.

The key here is to make sure that the upgrades you’ll be doing are functional ones, as opposed to just trying to make it as fancy as possible. That can even have a detrimental effect by driving the cost too high for most buyers to justify, especially if there’s a glaring difference between the kitchen and the rest of the house and neighborhood.

Keep things simple, and begin with the straightforward upgrades like a fresh coat of paint to liven the space up and make it much more attractive. When doing this, you should consider using low-VOC paint to make it eco-friendlier. You can even have bigger reductions in energy usage by replacing old appliances with energy-efficient ones.

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Martina Angel is a writer and real estate agent. She is especially interested in the purchase, ownership, management, rental and sale of real estate for profit. She also volunteers for local water conservation charities in her free time.

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