6 Proven Ways to Improve the Value of Your Home

Posted On Friday, 19 April 2024 11:30
6 Proven Ways to Improve the Value of Your Home Image by jcomp on Freepik

To rent a housing unit, you must ensure it is attractive, has excellent living conditions, and offers comfort and peace so people would want to live there. Plus, it would be much more valuable if the living conditions were extraordinary. So, if you are in the housing market, you can control how the value of your housing unit increases. Even though many outside factors impact the value of your rental home, you can still ensure it improves over time with a good strategy. 

In this article, we outline the best ways to increase the value of your rental housing units to ensure they are leased for a more extended period and continuously tenant-occupied. 

  1. Keep It Clean and Decluttered

One of the primary ways to increase a housing unit's value is by keeping it cleaned and decluttered. Get rid of everything that is not necessary inside the home. Make sure the interior shines when a potential tenant comes inside to look at it. Dust the high places, wash the baseboards, mop the floor, and take everything usable but unnecessary for the home to a donation center. 

You can always clean and declutter yourself and thus save money, but hiring a cleaning agency at least once for proper cleaning is recommended. They know their way around professional cleaning and will ensure your housing unit's interior will be spotless. Depending on the size of the housing unit, that kind of service usually ranges between $200 and $500

  1. Improve the Curb Appeal

What makes the first impression is undoubtedly the curb appeal of a home. So, it is as important as the rest of the rental property. No one would want to live in a place that looks neglected, where the landscaping is messy, the paint is peeling off the walls, and the sidewalks are cracked. To fix this, trim overgrown or patchy lawns and shape the hedges. A simple landscaping will go a long way. New plants and fresh mulch will brighten up the place and make it much more pleasing to the eye. 

  1. Upgrade the Home with Energy-Efficient Features

Another way to increase the value of your rental home is by cutting costs in terms of energy usage. First, you can get a free energy audit of the rental unit from a local utility company, which can show you how you can maximize the home's energy efficiency. Actions you can take include installing attic insulation, LED lighting, smart thermostats, and solar panels.  

Other energy-efficient features include properly sealing windows and doors to prevent air leaks and insulation to walls and floors. Next, low-flow fixtures such as toilets, faucets, and showerheads reduce water usage. Last but not least, energy-efficient HVAC systems with upgrades that enable high-efficiency heating, ventilation, and air conditioning

  1. Refresh with Fresh Paint

A clean, polished look of walls on exteriors and interiors can make the rental home unit look completely new. This can be a DIY job and won't cost you much, but it will significantly impact everyone looking at the house. If the need to spruce it up with fresh paint is a bit bigger than expected, a professional painter can take on the job and make old surfaces look brand new. Not only will the housing unit get an instant charm, but it will also preserve its value

  1. Focus on the Kitchen

Kitchens are the rooms that "sell" the home. Even though you rent the place, you should focus on remodeling the kitchen to add value to the whole unit. They are considered the home's heart, so tenants highly value the updated and functional kitchens with energy-efficient features. Plus, an upgraded kitchen will provide a high level of functionality every family needs.

  1. Schedule Regular Maintenance and Repairs

Don't wait for damage to happen and then act on it. The costs for maintenance can be above the ceiling if you don’t react on time. Ensure you have scheduled regular inspections of the rental home unit and taken care of regular maintenance checkups. Even minor repairs around the home will eliminate problems that might appear along the way. So, make a "Do" list of everything that needs to be resolved in the rental home unit, and if necessary, seek help from a handyman to help you cross out items on that list. 

Conclusion

Boosting your rental home's value isn't just about appearances; it's about functionality and efficiency, too. By keeping your property clean and clutter-free, enhancing curb appeal with landscaping and maintenance, upgrading to energy-efficient features, refreshing with a fresh coat of paint, focusing on the kitchen for added appeal, and staying on top of regular maintenance and repairs, you'll attract better tenants, command higher rents, and maximize your investment. Taking proactive steps improves your property's value and provides a better living experience for your tenants, creating a win-win situation for everyone involved.

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