Buying a home is an achievement, but having home improvement projects that increase your home’s value is a smart move if you intend to sell it in the future. However, not all improvements increase your home value, so here are some cost-effective ways that are just a few hundred dollars, and they are worth it!
Improve Curb Appeal
When selling a house, the first impression matters, so improving curb appeal is a must. Curb appeal is the level of visual attractiveness of the house’s exterior as viewed from the street. It is the first thing potential buyers see as they drive by in the neighborhood. Making the property look amazing from the outside will definitely make it more enticing.
Ways to improve curb appeal include maintaining well the existing yard and front lawn with healthy trees and flowers; choosing the appropriate color of the front door and exterior paint will make it stand out positively compared to your neighbors.
Go for neutral colors for the front door. It will make it look posh and could withstand the test of time. Even if you alter exterior paint changes in the future, the neutral hues adapt to it. As a general rule, front doors and garage doors should match because they both face the streets. Make sure the color you choose for both doors blends well with the rest of the house’s exterior.
Hire Professionals
Once the exterior is well taken care of, the next thing to focus on is what’s inside. If you have no idea where to start, hire professionals who can help you. Hiring a real estate agent and interior designer to check your home and give honest viewpoints of the current situation of the property allows you to have a realistic assessment.
While the designer could comment on the aesthetic and flow, the realtor can give insights into comparable houses in the market and what prospective buyers are looking for. Real estate agents generally know how extremely competitive the current housing market is. They can pitch in ideas and suggestions for home improvements as simple as changing furniture placements or paint colors which can dramatically improve and look and ambiance of your home.
Hire Certified Energy Auditors (CEA) to evaluate a home’s energy efficiency, health, and safety. Buying energy-efficient appliances for a minor kitchen remodel or making home upgrades that ensure not wasting energy appeals to buyers.
Energy Efficiency
Energy Efficiency upgrades will not only benefit homeowners by lowering utility bills (energy bills), they can also increase your home value. According to the national association of realtors, adding attic insulation and solar panels on the roof potentially boost the perceived home’s value. Insulation will keep the house cool during the summer season and warm during winter. Solar energy system also plays a role in saving energy.
Although solar panels users have faced challenges before, they can attest that when implemented correctly, it will not only cut monthly expenses on bills but can also be a central feature in selling a green home.
However, these costs are a bit pricey, so installing them to use them for the long-term is wise rather than just increasing resale value. Think about the return on investments when you will receive multiple offers when the time comes. The great thing about this kind of upgrade is that you can market your home with energy-efficient features and share copies of your utility bills to potential buyers as proof.
Keep Up with Maintenance
Although maintenance is not something that increase your home value, neglecting them would significantly have a negative impact. It would be tougher to sell your house at the price you ask, especially since homebuyers worry about buying a home that requires a lot of work with constant repairs and spending more.
So, keeping up with maintenance would be great in eliminating problems no matter how small to avoid piling up to bigger issues. Minor remodel is acceptable, while a house needing major renovation or structural update can be less attractive for homebuyers with a limited budget.
Smart Home Technology
The energy-efficient house features like having smart technology ring a bell to potential buyers. Smart home technology is a home automation system that gives homeowners convenience and control over energy usage.
Some examples are a smart thermostat for adjusting temperature preferences, a smart lighting program for automatically turning lights on and off, and smart speakers. The good news is smart homes can save up to 30% energy usage, which translates to using less electricity, thus cutting energy costs and utility bills.
Advantages:
- Ability to manage home devices from one place with remote controls and programmable settings
- Improve functionality and flexibility for new devices and appliance allows homeowners to keep upgrading to the latest lifestyle technology
- Maximizing home security with surveillance features such as security cameras in a smart home network
- Home management report which analyzes daily habits and behaviors that allows adjustments to achieve the desired lifestyle
Square Footage
Square footage has a significant impact on the home value since the price per square foot is one way of comparing properties that have similar upgrades and styles. Bigger homes tend to sell more, so adding space could help increase your home value.
Look around your existing home and see if you can knock out some walls to make it more spacious, create additional rooms, extend the lanai or renovate the master bathroom in your master bedroom. If you have an unfinished basement, transform it by adding functionality. For example, you can make an unfinished space into a laundry room or storage room.
Aside from the actual space, visual space is also essential. Making each room seem larger will influence how big the house feels. Thus, making a huge impact on adding home value.
Tips on how to make the room look bigger:
- Using light or dark paint colors gives the room some depth
- Multipurpose furniture and fixtures to utilize storage for a clean and organized home
- Open space with creative lighting by allowing natural light to enter the room
- Use light fixtures to add some creative effects
- Avoid covering walls with family photos; instead, choose one large piece of artwork to establish a focal point
Update
Minor updates go a long way to increase your home value, such as changing the wallpaper of the master bathroom in the master bedroom. The bathroom is a private space where you can have your skincare routines and personal stuff. There are many ways to do bathroom upgrades that do not hurt your wallet, such as replacing old light fixtures with new ones, upgrading decorative elements, and adding heated towel racks.
It is possible to do bathroom upgrades without a total renovation. In the dining room, one of the best flooring options to increase home value is hardwood floors. Hardwood floors add to the property value and typically yield almost 75% return on investment.
In addition, take a look at your entire kitchen. Are you enjoying cooking meals for the family? Do you need an upscale kitchen remodel? According to a survey, the kitchen’s staging is second to the living room to increase home value during open houses. The key to maximizing your home’s value is through kitchen updates.
Conclusion
Well, these types of home improvement projects would cost you tens of thousands of dollars. You can finance these with cash, cash-out refinance, and personal loans. Pay attention to what matters most and listen to experts’ advice to avoid spending on unnecessary upgrades that do not increase your home’s value. Remember that energy-efficient ways and eco-friendly features attract the prospective buyer. The best ways to increase home value will boost your confidence aiming for the highest value of your home when it is time to sell.
If you plan to sell soon, find a real estate agent who can understand your financial goals. Get sound advice from an agent who knows how to help you get the most value for your home. With the help of real estate professionals, home staging can dramatically increase your home value and sell the property at a higher price. Get a FREE analysis of your home here.
Are you looking for a real estate agent in Virginia Beach?
Barry Jenkins handles real estate transactions in Virginia Beach, VA, and other surrounding areas. He aims to provide excellent service to all his clients with their needs. With his knowledge and experience in the real estate industry for two decades, he can guide homeowners in the selling process and help you sell your property fast!
You can reach him through the contact information below:
Barry Jenkins, Legacy Home Team @ LPT Realty
Virginia Beach, Virginia
Phone: (757) 919-8874
Email: Barry@yourfriendlyagent.net
Brokerage: LPT Realty, LLC, 1545 Crossways Blvd Ste 250, Chesapeake, VA 23320
