Owning a home is one of the most lucrative investments you can make. Though real estate prices rise and fall, your property is more likely to appreciate in value as time goes on, especially if you keep your home in good condition. But if you end up wanting to sell (or flip) your house, you want to make sure you get the most out of it you can. With that in mind, here are some steps you can take to increase your home's value.

Cultivate "Curb Appeal"

If you're unfamiliar with the term "curb appeal," it's shorthand for the exterior of your home as visible from the curb -- in other words, where a potential buyer will get their first impression of the home. Increasing your curb appeal is one of the best ways to make your home more attractive to buyers. Mow the lawn, trim the trees, clean up the front garden, add a paved pathway or garden lights -- all of these can drive up the value of your home (and make it more pleasant to live in too).

Repaint

Speaking of curb appeal: one of the easiest ways to spruce up your home is to put a fresh coat of paint on it. Let's face it: a buyer who pulls up to see a house with faded, peeling paint is probably not going to be thrilled. A vibrant new coat of paint can breathe new life into a home.

Replace the Flooring

If your flooring is worn, outdated, or just plain ugly, replacing it can be a great way to beautify your home and increase its value at the same time. Beyond picking new colors and patterns or swapping out carpets for hardwood, consider upgrading to greener, more sustainable materials to really bring your home into the 21st century.

Upgrade and Renovate

One of the first things buyers will look at once they get inside is the bathroom and kitchen. Having a stylish kitchen with all the amenities or a roomy, beautiful bathroom with a modern, upgraded bath or shower can improve your home's value significantly. Remodeling and renovating your bathroom or kitchen can be a profitable step -- but be aware it could impact your home insurance. Kristine Lee at The Zebra points out that making major renovations that add to your home's value can end up requiring more coverage, which could mean higher premiums. You might even consider shopping around to compare home insurance quotes and find a better deal.

Reinforce Your Home

While we're on the subject of insurance premiums: one of the best ways you can bring your home insurance down and bring the value of your home up is to install reinforcements against extreme weather or natural disasters. Reinforced doors and windows, weather- or fire-resistant materials, fire retardant plants, and other disaster prevention techniques can help keep your home safe.

Embrace New Technology

Smart home technology is becoming more and more prevalent, and there are a lot of benefits involved -- not the least of which is making your home more attractive to buyers. Technology like programmable thermostats, smart security systems, smoke and carbon monoxide detectors, smart hubs, and more not only keep your home safe and secure, but add a lot of market value as well.

Go Green

Programmable thermostats and automatic lights are not only convenient, but they can also save energy, which can also be a major attraction for buyers. After all, who doesn't like the prospect of a low energy bill every month? You can take this one step further by installing energy-saving bulbs and appliances, improving your home's insulation, and even installing a solar energy system. Making your home as sustainable and energy-efficient as possible is not only a serious money-saver in the long run, but it will also put your home in high demand with buyers.

Expand Your Living Space

Finally, one of the most time-honored and reliable ways to add more value to your home: add more home! You can expand your living space by adding an accessory dwelling unit, turning your basement into a gym, rec area, or extra bedroom, or turn that attic into a loft or a child's playroom. Adding more living space to your home doesn't have to involve adding an entire floor or wing of a house -- even relatively small renovations and changes can add major perks for buyers and add equity and value to your home.

Historically speaking, residential real estate is going nowhere but up -- but you don't have to depend on the market to bring your home value to the next level. Whether you choose to beautify the front lawn or completely renovate your home with green and sustainable materials, you can take charge and get the most value possible out of your home.