5 Long-Term Strategies To Add Value To Your Home (and help selling it faster)
Knowing the best ways to add value to your home has always been important. This is especially the case now that homeowners are spending more of their time and investments back into upgrading their homes. There are a number of strategies to implement that focus on both a wider scope like increasing the living space or a narrower scope like updating windows and doors. Whichever strategy you decide to implement, it is best to choose one or a few that can make the greatest impact.
Improve the curb appeal
How the exterior looks on a home can play a significant role in its overall value. Before anyone enters your home, they usually judge your home based on first impressions. The appearance of your front door, porch, street-facing windows and even something as small as your house numbers can play a role in the overall impression of your home’s value. By increasing your curb appeal, you can create that initial interest that gets a potential buyer’s foot in the door.
To improve your home’s curb appeal you can consider updating the siding or roofing. Both projects are relatively large but can have an equally large return when you decide to sell your home. When you update your siding and roofing you can create a streamlined look that can be both modern and complete. Contrasting the exterior features with one another can instantly bring increased appeal to the overall aesthetic of your home. Other aspects that add to your home’s curb appeal are the surrounding landscapes and greenery. A front yard with a tree and complimentary hedges and bushes can bring life to your home’s exterior.
Incorporate energy-efficient features
Another long-term strategy that can add value to your home is energy-efficient features. Updating windows to double-pane or triple-pane can directly affect your home’s heating and cooling expenditure. In addition to the saved expenses, energy-efficient windows make the interior of your home feel more comfortable during times of harsh summer heat or cold winters.
You can also incorporate smart features in your home that can improve its energy efficiency. For example, some providers include energy management systems with a thermostat that can be controlled from any wifi device and programmed to turn off during peak usage hours to save energy. With more homeowners being concerned about their environmental impact, having an energy-efficient home is becoming a non-negotiable feature for future home-buyers.
Increase the living space
Adding additional living space to your home not only adds value but makes your home more desirable. Added living space comes with many beneficial features such as added storage. An area such as a finished basement allows you to build intricate storage units such as wall shelving and pantries, and potentially even additional refrigerator space if you desire. In a finished basement, you are able to keep seasonal decorations, kitchenware, craft and sewing appliances, tools, and other items. If you do not need daily access to certain items, storing them in a finished basement is the best way to keep them organized, dry, and safe.
Another benefit of increased living space is the added functionality that space can bring to your home. Laundry rooms, work rooms, spare bedrooms, and a separate entertainment area are all available for your extended living space. If you intend to stay in your home for more than a few years, the extra livable space provided by a finished basement or room is well worth the investment. Having more space to spend time with family or an area to work on your hobbies is a great way to improve the comfort and enjoyment of your home.
In addition, another option for adding additional living space is to turn it into an income suite. You can turn an area like your basement into a suite if you have the ability to build a second entrance and a separate furnace system. Income suites are an excellent way to supplement your mortgage payments, and they can also be used as an in-law suite or a suite for adult children. Making your basement into a separate suite is a great way to support family members or earn extra money. All of which can greatly add value to your home.
Focus on some high-valued areas
Kitchen and bathroom upgrades have consistently proven to add value to a home and attract the majority of buyers’ attention. The kitchen and bathroom are two of the most functional rooms in any home. How well they perform their respective roles has a significant impact on how buyers perceive a home and how much they are willing to pay for it. The value of a kitchen stems from its function as a social gathering place. Most homeowners have always built ceremonies around meal preparation. The kitchen is where family members congregate to share food, play, enjoy each other’s company, and catch up. It is also one of the most popular places for homeowners to receive visitors and showcase their homes.
Bathrooms, on the other hand, are critical for health and hygiene. It is a place to address many of our physical needs, and some spend a lot of time there. People expect their bathrooms to be warm and inviting. They want the room to energize them before work and to relax them. An investment in the kitchen and bathrooms of the home has a very personal impact on each member of the residence. In some cases, no other home improvement has this distinct feature. In result, focusing on high-value areas such as kitchens and bathrooms can significantly impact a home’s overall value.
Modernize the exterior and interior with a fresh coat of paint
Painting your home is one of the easiest ways to increase the value of your home. You can paint the interior of your home but with select coloring. It is not recommended to go with very vibrant or non-contrasting colors. For the interior of your home, it is best to choose neutral colors because they can go with almost everything. In addition, potential buyers can imagine themselves living there more easily. Many buyers also do not want to spend extra money on painting after the sale.
Painting small rooms in a lighter or pastel color can make them appear larger. You can create the illusion of more space by painting the trim and walls the same color. In contrast, if you want to make a large room appear smaller, you can use a warmer or darker color to make the space feel cozier. Lighter, neutral colors photograph better because they make the room appear brighter. A few cans of paint can be a wise investment if you want to increase the value of your home. Choosing paint colors will not only appeal to the widest possible audience, but will also assist future buyers in visualizing themselves living in the space.
Upgrading or renovating your home can seem like a daunting task. With many moving parts such as finding a professional contractor, scheduling the best time for the renovation, and adjusting to the process, it can be a tiring endeavor. However, the investment is well worth it in the end when your new home upgrades add value to your bottom line.