3 Additions to Your Home That Will Raise Its Value
Your home is probably your biggest asset. While it's likely your home's worth will increase over time, several factors can affect its worth. If you want to boost your home's resale value, there are steps you can take. Taking on these upgrades will not only make your property worth more, but it can also increase the comfort and enjoyment of the space while you continue to live there. Consider these three additions to your home that will raise its value.
Improve Its Appearance
Anything you can do to make your home look more attractive can increase its appeal to buyers. Curb appeal is a big deal, and it truly matters in the real estate market. First impressions can influence buyers in both positive and negative ways. You'll want to do all you can to invite them inside, rather than let them just walk on by. How's your landscaping? Adding flowers and shrubs goes a long way toward beautifying the outside of your home. Perhaps some landscaping architecture like a stone patio or gazebo can add extra appeal. Make sure your home's exterior surfaces are flawless. Touch up paint around windows or consider a new coat for the whole house if things are looking a little drab. If necessary, large projects like window or roof replacement may be worth taking on. Potential buyers don't usually want to be stuck with such large projects.
Lower the Maintenance
Many buyers are wary of any large maintenance issues. They want to know that the home's large appliances and major components are in decent working order and that they aren't excessively old. Therefore, it's smart to take care of replacing older water heaters or furnaces. You may even think about adding upgrades like new carpet, kitchen appliances, or siding. Making your home as efficient as possible is another way to catch the attention of buyers and add value. Anything that can lower the utility costs counts toward this endeavor. Add insulation in the attic or install double-paned windows to diminish air leaks and make indoor conditions more comfortable. Energy-efficient appliance models can significantly lower utility bills. Even something as simple as changing out your regular light bulbs for LED lighting can make a difference.
Add Space
Larger square footage typically adds to a home's selling price. So if you can add room for a home office or spare bedroom, you may see a significant increase in your home's eventual selling price. You don't necessarily need to take on a full-scale construction project to gain space. Consider something like prefab steel building kits for your new addition. Such a structure can serve as a garage or workshop space. This is a fairly simple and cost-efficient method that can appeal to buyers. You may not even need to add new square footage to gain valuable living space. You might consider finishing a basement or attic space. Such areas can then be used for a multitude of purposes. Perhaps a family recreation room or a playroom for the kids? A spare bedroom or office space is often a must-have for homebuyers. Get creative. Any added living space is a plus. Even outdoor structures like a deck or patio can add value.Keep these suggestions in mind when you want to find relatively easy ways to raise your home's value. Well-planned projects, no matter how small, can make a difference in the bottom line, as well as providing you with years of enjoyment. Home projects don't need to be grand in scale to have an impact.