How to Increase the Value of Your Home
Whether you’re selling or not, you want to make sure you’re taking all the essential steps to retain and increase the value of your home. The last thing you want is to lose money on arguably one of the largest investments you’ll ever make.
Luckily, the following 7 pointers can help you get the most out of that investment.
7. Plan Out Your Remodel
Impulse remodelling is a sure way to throw your budget down the drain.
If you want to increase the value of your house fast and efficiently, plan your remodel throughly. Not only will you get more out of your budget, but if you do it right, you can focus on issues that matter the most first, and work your way down to the less important ones.
6. Paint It – Inside and Out
You don’t have to get fancy with the paint job—sometimes you just need to cover up the chips and scratches. The goal is to make your place look clean and well-kept.
However, if you’re going to choose a colour palette for you home, choose one that has a lasting quality, meaning don’t even think about lime green. Lime green doesn’t exist in the home renovation world. Lime green is bad.
5. Renovate the Kitchen
Any real estate expert will tell you that the number one room to remodel to increase the value of your home is the kitchen.
For as little as $5,000, you can upgrade to new appliances, countertops and flooring. Like we said before, applying a fresh coat of paint to the walls or cabinets can also make the space look fresh and modern.
4. Renovate the Bathroom
If your kitchen is the first project on your list, the bathrooms should be a close second. More than any room in the house, your bathrooms see a lot of wear-and-tear, and the last thing potential buyers want to walk into is something dated dated and dirty.
Like your kitchen, you can upgrade your bathrooms to look and function great on a relatively low budget. Consumer Reports estimates that you can increase your home’s value by as much as 7 per cent through both kitchen and bathroom renovations.
3. Replace Doors and Windows
Bright shades and sharp angles do wonders for the curb appeal of your home, so people notice when a home has new windows and doors. But the benefits go beyond refreshing the look of your home. Old windows lose their effectiveness as their seals weather over time. Broken seals in your windows and doors allow external air in and internal air out, doing a number on your energy bill.
New windows can last upwards of 30 years, so it’s a definitive improvement to the lasting value of your home.
2. Give It Some Curb Appeal
First impressions are everything, especially when it comes to your home.
For buyers, your home’s exterior can be a direct indication of the work that went into the rest of the house. By putting a bit of work into landscaping, gardening and minor repairs, you’ll give your place a little extra value.
Not to mention, the benefits your neighbours will see. The exterior of houses throughout your neighbourhood can also influence the value of not only your home, but the houses around it, so tell Ron from next door to cut his grass!
1. Keep Up With Regular Maintenance
Your house is a temple, and there are quite a few moving parts. Like anything, there will be issues.
Your best move is to keep up with regular maintenance to avoid any long-term problems. By putting off essential repairs, those minor issues you tried to avoid will turn into major issues that will almost certainly devalue your home. And even if those minor issues don’t end up becoming anything more serious, they can start to add up.
Unclog drains, inspect and replace wiring, test smoke alarms and safety devices, and take any other precautionary measures. Take a look at Better Homes & Gardens’ Home maintenance checklist for other important measures you can take to avoid long-term issues.