How to Add Value to Your Home

Written by Posted On Tuesday, 22 January 2019 11:01
Add Value to Your Home Add Value to Your Home

Adding value to your house equates to creating a well-planned living space that can justify the house's selling price. There are many excellent reasons why you would to renovate, remodel or add an extra room. The kitchen may be outdated, small and dark and needs to be opened up to fresh air and sunlight. Houses in your local area are selling for higher prices than a year ago, and you want to make the most out of booming market condition. With that being said, let us look at the various ways you can add value to your house and make it preferable among home buyers.

 

Adding Outside Structures and Room Additions

Outside structures such as porches and sun-rooms with exterior glass doors are the most popular additions these days. Whether screened, glassed-in or simply open to the backyard, these additions provide not only extra space but an opportunity to retreat, relax and entertain family and friends. Other add-ons to a house include bumped-out rooms, one-story, and two-story additions. Bumped-outs are small-scale additions created by extending an existing wall. It is done to loosen up a tight space and transform into a wide living area. Two story additions are also common among homeowners with growing families. These add-ons can provide solutions to many difficult problems arising out of cramped or small spaces. Note that, additions can be a process filled with a lot of hard work but also rewarding in the end, especially when it is time to sell the house.

 

Home System Replacement and Upgrades

One of the most important things that every home buyer will look into in detail is the house’s plumbing/electrical system. Making sure that the house’s system is in working order is a requirement for every sale contract. As you inspect the house, you want to take a closer look at these systems. If they are outdated or need to be replaced, doing so will increase the value of the property. Otherwise, your buyer has the advantage when negotiating house price during the sale. A qualified building inspector will evaluate the condition of your house’s plumbing, heating, cooling and electrical systems. The inspector will examine and advise whether or not the house needs updated water lines and drain pipes. Houses built in the 1960s usually have the issue of lead pipes being the part of the plumbing system. This type of piping often becomes caked with toxic substances and restricts water flow in the pipes. Replacing water heaters that are outdated and inefficient can go a long way in reducing utility bills. Similarly, the electrical system needs to be checked for loose and dangling wires, short circuit and old wiring. Many homes in the 1970s were built with aluminum wiring that tends to slip out of junction boxes. Upgrading can resolve most of the issues from an inefficient electrical system.

 

Following Codes and Norms

Renovating, remodeling and additions – all give the homeowner a chance to add value to the house and set a good price on the house in the market. But before a project can start, you need to decide whether it is feasible and allowed. An addition can surely increase the value but by how much? Generally speaking, you shouldn’t take on this project if what you will make is less than the time, money and energy spent on it. Additionally, projects that will make the house significantly larger or different than the neighborhood houses in the community is a no-no. The new addition should be suited to its surroundings. So, for example, if the addition transforms a big yard into a narrow pathway, it may turn off potential home buyers. Most additions also require building permits from the city or county. Not adhering to the codes will make the property sit on the market for a long time without offers. If you don’t keep up with the regulations for adding value to the house, you may find yourself having to make costly changes, even redoing everything from the start. And don’t hesitate to ask the building inspector questions about building codes in your city or county. They will be helpful in deciding whether you want to make the changes or not.

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