Your home is a valuable asset for you. Maintaining it from time to time can help increase your home’s value in the market. Therefore, we should renovate and repair in a way that increases the value of our home.
We all know very well how expensive these remodeling and renovations are. But in the current times when there is an oversupply of residential properties, one must identify what adds the most value to their homes.
When it comes to comparing two residential properties, there are quite a few things one can do to add value to their homes. Hence, proper house valuation plays a pivotal role in the sale of houses today. It also improves the resale value of the house.
Here’s How You Can Raise Your Home’s Value
Upgrade the Kitchen
A kitchen is the focal point of a house sale and purchase. Renovating and maintaining your kitchen can increase your home’s value by 10% when you put it on the market.
As per the data, more than 50% of home buyers value the condition of the kitchen when making the purchase. Therefore, it is crucial that you make your kitchen priority when renovating.
Here are some ways you can upgrade your kitchen.
- Set a budget before you decide to upgrade. It will enable you to get more done for less money.
- Consider upgrading the appliances as it will redefine your cooking experience as well as the kitchen appearance.
- Consider laminates or granite for countertops and flooring. The addition of these elements greatly affects your property value.
- Upgrade ventilation and storage units as they are important factors when people buy houses.
Renovate the Bathroom
Although a bathroom is a very small part of a house, it drives decisions when selling the house. Being one of the smallest areas of the house in terms of per square footage, it is quite a tricky job to renovate it.
Here’s how you can renovate your bathroom space to add to your home’s value.
- Plan the layout if you want to change it. Consider waterproof laminates and marble surfaces.
- Redo the plumbing if not done in a while and consider replacing the commode, sink, faucets, and other important elements.
- If space permits, consider getting a bath tub if you don’t have one. This is a great way to upgrade your bathroom.
- Choose the colour of the laminates and marbles that gives you a cosy feeling.
Add energy Efficient Features
When designing a new house or renovating an existing one, you must consider adding energy efficient features to it. They not only save your money and make your house more durable but also increase its value in the market.
Adding features such as a solar power system, cool roofs, thermal insulation system, and small things like installing LED light bulbs can be very beneficial. As these houses can save the residents up to 25% in utilities, they tend to command a better price in the market.
Create More Open Spaces
Open spaces have been around for quite a long time now. They have been a go-to option for home designers in America. Today, while some claim they are out of fashion, they make a house’s value go up in the market.
While some of these designs can no longer be used, they still give the residents a more fulfilled living experience. So, try removing any unnecessary partition wall, rearrange furniture and appliances, and create more outlets for ventilation.
A house with proper open spaces can command a great price in the market.
Improve Home Technology
A smart home sells itself in the market. People are always looking for smart homes to buy. Therefore, making your home smarter with trendy technological advancements adds a great deal to the value of your property in the market.
Some of the best smart technologies for your home can be the following.
- Smart security system for enhanced security in your home.
- Smart lighting solutions or voice-control lighting systems for home.
- Internet and Wi-Fi connections.
- Smart motion like automated drapes and window shutters.
Also Read: How to Improve Home Technology?
Focus on Storage Units
A house harbours you along with all your memories and belongings. Therefore, it is only fair that buyers look for more storage space in the house.
If you want to add to your home’s value, expanding your storage units can be one of the most significant things you can do. Add a new built-in closet, a built-in shelf, and other small elements like closet organisers,
Another way of adding more space for storage in your house is by utilising unused spaces such as under the stairs and foot of the bed. This can expand the storage capacity of your house immensely.
Add a Fresh Coat of Paint
Presentation of your home to the buyer is crucial. Newness of anything attracts people. Hence, adding a fresh coat of paint before the open house sign board can do wonders.
A well painted interior can have different effects on different buyers. For instance, soft and light hues can make the buyer feel confident and certain hues can boost price sales and the buyers’ mood.
While maintenance of a house can cost a lot, making it look worthy of a higher price tag can become cheaper with a good coat of paint.
In Closing
Selling a home is hard and getting the best price for it is harder still. But a strategic renovation of your house can skyrocket its market price. It requires careful planning and investments in both aesthetics and functionality of your house.
By following a few key points, you can make your house a sought-after property in the real estate market. Home renovations, such as kitchen and bathroom updates, not only elevate your living experience but also attract potential buyers and justify higher asking prices. Investing in technology, such as smart home systems, can set your property apart in a competitive market.
