7 Ways to Increase the Value of Your Home
There are many reasons to want to up the value of your home. Maybe you're planning on selling soon? Perhaps you want to increase your home's equity so you can borrow against it? Or maybe you just want to leave a valuable home for your children? Whatever your reason for wanting to increase the value of your home, we have 7 tips here that will help you get started!
Renew the Exterior
From adding fresh coats of paint, to changing the color scheme entirely, and even adding porches, patios, or decks, there's a lot that can be done with the exterior of your home that will boost its value. Some more expensive options are to replace or add new windows that let in more light and give your home a more open feel.
Rejuivinate the Yard
Adding a few pops of color with hardy, low-maintenance plants can be great. But don't stop there. Add walking paths, lighting, and a few extra plants can really give your home some curb appeal value.
Refresh the Bathroom
You may not have the cash to do a full remodel of the bathroom, but that's okay! You can still refresh your bathroom for an almost completely new look. Trade out fixtures, fix any repairs, replace the toilet, and add some fresh paint. If you can swing it, you can even redo the floor. Deep clean the tub and shower and it will be as good as new. Getting a new curtain, new rugs and covers can also help to add to the new look.
Update the Kitchen
Just like with the bathroom, you don't need a full remodel to make your kitchen look brand new. Add new fixtures, new paints, and new decor to give it a whole new look and life. Emphasize openness by accentuating windows, adding more lighting, and going with light colors.
Make the Most of Space
Whether it's converting that weird corner into a built-in corner bookcase, or using or building furniture that helps to open up space while providing comfort, making the most of the space in your home adds plenty of value. If you're showing your home, it makes it seem larger than it is. If you're just wanting to have it appraised at a higher value, it not only seems larger but shows that you've taken good care of your home. This can actually up the value of your home by itself.
Get a Laundry Room
Having a laundry room, however small, will add quite a bit of value to your home. If you're working with especially small spaces, look for a washer/dryer combo. Don't be afraid of shelving, and make sure you have space for baskets and hampers. Adding a laundry room (or revamping your current) can give you anywhere from 67% - 91% return on your investment within the first year alone.
Add Entertainment Areas
From game rooms (which can bring in a 77.6% ROI) to a home theater (average +/- 65% ROI upon reselling, depending on how big you went with it), and even activity tables and zen places for yoga, having entertainment areas can boost your homes' value astronomically. Not only do they add value if you're looking to resell or up your home's equity, they provide a ton more fun for you and your family. This can potentially help you save some cash by opting to have fun at home rather than go out.
Remodelling your home to increase its value doesn't have to be stressful or exorbitantly pricey. It can be fun and provide a lot of comfort and entertainment, even if you're planning on moving soon. Most remodels and extensions can be done in a "DIY" way to help save on costs and get even more return on your investment. When it comes to the plumbing and electricity, however, it may be best to get a professional involved.
