When you are set to make home improvements, you may only be thinking about making your home more comfortable or attractive. While some renovations, like adding energy-efficient appliances and fixtures, can add substantial value to a home, adding an extra bedroom, for example, may not appeal to a number of potential buyers. To have a better outlook as to which home improvements will indeed make a difference come selling time, we’ve listed a few suggestions on how you too can increase the value of your home.
The kitchen is the heart of your home and it’s the room that receives the most traffic daily. Any kitchen remodeling project is bound to pay off, as long as you don’t overdo it. Furthermore, the returns on any kitchen refurb are also going to be higher than just about any other room in the house. Some of the most profitable renovations include:
If your house has just one bathroom, you can raise the value of your home by adding an extra one. So, where can you place an extra bathroom? Some of the possible locations you should consider include:
Just look for a place where you can get at least 18 sq. ft. for half a bathroom or 30 sq. ft. for a full one.
Adding a new room to your house could give more space and change its status e.g. from a 3-bedroom to 4-bedroom. However, the cost can be exorbitant. Instead, you can convert an existing space and save a lot of money. For instance, you may:
Home buyers now want energy-efficient houses that will reduce their monthly maintenance and expenses. Don’t expect old, single pane windows with poor insulation to attract any real buyers. Instead of keeping your old drafty windows, you can replace them with energy star-rated double-pane glass and save hundreds of dollars annually.
You may also be eligible to receive tax credits or rebates as an incentive for installing said windows too. Opting for this kind of renovation in today’s eco-conscious world is perhaps one of the most significant modifications you can invest in, as it works towards increasing the sale price of your property and further guarantees that a successful sale will be the end result.
As you complete the necessary modifications and the value of your home goes up, you can spend the extra time exploring your loan options as you search for your own future home.
If you stand near a closed door or window when the wind is blowing and you can hear the hissing sound of air, your home is essentially lacking adequate insulation. You must start insulating all the doors, windows and walls.
You can also add insulation to your attic at a relatively low cost. Seal all cracks around your home to reduce the cost of heating or cooling your home. You can use a thermal leak detector for this. This hand-held device will let you know exactly where the air leaks are, allowing you to add caulk or any other type of insulation where it’s most needed.
If you don’t have a thermal leak detector, you should focus on these areas first when insulating your home:
Many home buyers now ask if there’s a smart thermostat installed before they buy a new home. Estimates from Energy Star show that you can save a little less than $200 annually just from heating and cooling costs. You may even save more depending on the features of your thermostat and how you set it up.
A programmable thermostat allows you to determine the time at which the heater or air conditioner should maintain a specific temperature. This can be done when you are away from your home at work or even when you are at home, staying in a particular room, the thermostat will adjust accordingly while reducing your energy consumption in the process.
Similarly, you can replace your hot water heater with a more efficient model. Water heaters consume a high portion of your energy bills so you can save at least 30% of your heating costs with a new energy-efficient variant. If you use less than 40 gallons of water per day, you should consider using a tank-less water heater that produces your hot water on demand.
Adding a new coat of paint can improve the appearance of any room. To add value to your house, you don’t have to repaint the walls in all parts of the house. Focus on the high traffic areas first. These include the kitchen, bathrooms and living room. Use neutral colors like beige, off white or plain white since they appeal to a wide variety of home buyers (and affords them to see the place as a blank canvas upon which they can imprint their own style).
You can take the painting outside and attend to the front door, garage door and refresh the window frames (if needed). Creating a good first impression is paramount, so make sure that those external colors pop and make the potential buyer want to look inside. Many buyers will make up their minds about a home within 10 seconds of looking at it either online or when they stand in front of it.
Those are some of the cost-effective ways to improve the value of your home. Review them and make a list of the most significant improvements you can make this month. Then research further so you can get the best quality supplies and materials to renovate your home.