Purchasing a home is a long-term investment that in the best of circumstances will leave the owner with positive equity. Below, are some of the top suggestions for both small and major changes to your home that can result in an increase in value.
Increasing the value of your home and property does not have to be expensive. Instead, choose to focus on something small like changing the interior color of various rooms. Old and peeling paint or dated colors will not only turn away potential buyers, but also decrease the value of your home. Breathe new life into your home by opting to repaint the walls in neutral colors. While more expensive, opting to paint the exterior of a home is one of the best ways to increase the house’s value. Often, a positive first impression by potential buyers is what will sell a house.
Nothing makes a house look more disheveled or unkempt than an overgrown and weed infested yard. Give new life to your yard by purchasing trees that will grow to be large and mature for future generations to enjoy. Other simple landscape fixes can include can be the addition of a new garden or stone pathway leading from your driveway to the door or foyer. Realtors often cite curb appeal as an important factor when considering a new home purchase. Consequently, spending a little bit of money on landscaping can lead to an increase in a house’s overall value. For an adventurous homeowner, opt to take the landscaping to the next level by considering the addition of an outdoor patio or deck. Not only will this add additional square footage to your home’s blueprint, but also it will lead to an increase in property value because of the entertainment factor. For ideas on how to accomplish the best return on your investment, get a free guide at archadeck.com.
Even a few hundred dollar investment in bathroom improvements can see an added return on your home’s bottom-line. Contractors and realtors have concluded that the two rooms that add the most value to a home are the bathrooms and kitchens. In the bathroom, improvements don’t have to be costly. Instead of retiling the shower or adding an expensive backsplash opt for replacing an old vanity with a new one. If possible, purchase a vanity with dual sinks to appeal to the masses and add even more value. Additional inexpensive improvements include swapping out outdated light fixtures and changing the cabinet door handles.
Don’t let the thought of upgrading a kitchen can scare you. While it is true that a kitchen renovation can cost upwards of $50,000 even a little bit of money can go a long way in increasing the value of a home. Plus, kitchen upgrades almost always result in a positive return on your initial investment. Swapping out appliances with stainless steel and energy efficient models is one of the best changes any homeowner can make. In fact, making your house more energy efficient will pay dividends on the home’s value. Instead of a full kitchen remodel, less expensive changes can include re-staining or resurfacing existing cabinets, purchasing new countertops and upgrading the existing light features.
Owning a home can be an expensive endeavor; however, when making changes results in a higher valued house these upgrades are well worth the expense. Any of the above ideas and suggestions will help lead to a new and improved home. Remember, adding value to your home doesn’t have to cost an arm and a leg.