What Adds Value to a Home? 10 Ways to Raise a Property’s Value
Purchasing and owning a home represents a major accomplishment in your life. But since home ownership is also an investment, you may be wondering how to raise the value of your home in order to get the most out of that investment. Understanding what adds value to a home will help you get the most out of the property that you own, giving you the best possible return on your real estate investment.
If you want some advice on how to maximize the value of your home, follow the tips we provided to get you started. All of the advice found in our guide will give you some ideas on how to improve your home so that it can achieve its full potential and give you the most rewarding home ownership experience possible.
What Adds Value to a Home? 10 Proven Tips on How to Raise the Value of Your Home
1. Improve Your Property’s Curb Appeal
First impressions count for a lot, and that holds true when considering the value of a property. The exterior of your home and the surrounding yard will be the first thing that potential buyers see when they’re taking a look at your property. Taking steps to improve this first impression that your home will leave can be a great way to increase your home’s value.
Some basic landscaping can go a long way in this regard, whether you’re planting trees to add some character to the yard or planting a garden for a splash of color. Keeping the lawn well-maintained will also send the right message to anybody considering buying the property. A new front door or other exterior improvements to the home itself can also make a big difference.
2. Upgrade to High-Demand Finishes
While landscaping and other exterior improvements are a good place to start, it’s important to make sure the beauty of your property doesn’t only run skin deep. Improve the interior attractiveness of your property by choosing upgrades that are popular among modern buyers. A little bit of market research to see what trends are hot at the time you’re putting your house on the market can go a long way towards getting a better offer for your home.
A few examples that you may wish to follow when thinking of how to raise the value of your home would be to add quartz countertops to your kitchen or to replace brass doorknobs with brushed nickel ones. You may also want to install eye-catching stainless-steel appliances. These upgrades come at a low-cost relative to other home renovations, giving you an easy way to add value to your property.
3. Remodel Existing Rooms
While taking on a renovation project can involve a lot of work and expenses, there are few better ways to increase the value a property holds. Replacing old furnishings with fresh and new pieces that follow the latest trends or updating the flooring in a room are some ways that you can improve the value of your property with a restoration project.
Before beginning any remodeling, take a moment to find your inspiration so that you can set out with a clear goal in mind. Opening up a real estate or interior design magazine can be a great place to start. Recognizing what’s chic and fashionable will help you tailor your own remodeling projects to appeal to the tastes of modern homebuyers.
4. Improve the Building’s Energy Efficiency
Now more than ever, people are looking for ways to make every aspect of their lives greener and more eco-friendly than before. That principle applies to home ownership as well. Better energy efficiency for a property not only leads to a reduced environmental impact, but it also saves the person living in the home money on electricity, heating, and other expenses.
Upgrading to LED lightbulbs from old-fashioned incandescent ones and winterizing any doors or windows are some straightforward ways to improve energy efficiency. You might also wish to install a smart home thermostat to ensure your heating and cooling systems are being used efficiently. If you intend to upgrade home appliances before selling the property, look for energy-efficient options that will be attractive to modern home buyers.
5. Expand the Square Footage
Size isn’t everything, but additional square footage makes a big difference in the overall cost of a property. The most obvious way to do this would be to build an additional room or extension onto the house. Each additional room opens up new possibilities for potential buyers and can be a major factor in what adds value to a home.
Besides increasing the physical size of the home, increasing the finished square footage by remodeling an unfinished basement or attic can be a good method for how to raise the value of your home. You can also visually improve the square footage you already have by making existing rooms feel more open with techniques such as letting more natural lighting in or adding mirrors in strategic places.
6. Reduce the Need for Upkeep
Nobody wants to add any unnecessary stress or hardship to their life. That’s why taking steps that make a home require less day-to-day maintenance can be very beneficial towards improving your home’s value. When people see the work-saving features included with the house, it will help them to picture themselves living in the property. They’ll be thinking of the possibilities the new properties provide instead of stressing over future maintenance requirements.
Some ways that you can reduce the maintenance burden for future owners is to replace major components of the house prior to putting it up for sale. Some ideas would be putting a new water heater or furnace in place, assuring potential buyers that they won’t face any costly replacements of their own. You may also want to have a new roof installed to show the property is well-maintained.
7. Make the Home Smarter
Technology continues to revolutionize all aspects of our lives, and that includes the way that we interact with our homes. Staying on the cutting-edge of the latest developments in smart home technology will leave you with a property that fits in with the expectations of modern home buyers. These improvements also come at a lower cost than large-scale renovations.
Smart home systems include thermostats with automated control, front doorbell systems that include cameras, and more. Integrating up-to-date safety technology into your home is another essential. Home security systems, carbon monoxide detectors, and smoke alarms are just some of the most crucial pieces of technology that any home needs.
8. Apply a Fresh Coat of Paint
A new coat of paint can add life to a property in need of some restoration, and can even change the personality and character that the building gives off. Fresh paint on the exterior sends the right message to anybody who arrives to check out the property, while newly-painted interior rooms look fresh and updated to give the entire home a revitalized feel.
When selecting colors for any repainting that you’re doing, bear in mind that neutral tones appeal to the broadest array of people. However, there may be times that a more vibrant color would suit a particular room better. The ultimate choice comes down to personal preference, but do keep in mind the impression you’ll leave on potential buyers instead of only taking your taste into account.
9. Replace Old Carpets or Rugs
Once you’ve got a fresh paint job, another good step to take to revitalize your home would be to get rid of any drab carpets or rugs that detract from the home’s appearance. Faded colors, old stains, or other imperfections in these components of your house can give the property a dreary feel that might put off some purchasers.
Update your flooring with fresh new carpeting to maximize the attractiveness of your property. Switching over to popular hardwood flooring choices is another good tip for how to raise the value of your home. Whichever option you choose, the addition of a few tasteful accent rugs can put the perfect finishing touch on your property before you put it up on the market.
10. Keep Up with Routine Maintenance
You should always keep up on regular maintenance needs for your home, but that becomes even more important when you’re thinking of selling the property. If somebody comes to view your property and finds it poorly maintained, that will leave a negative feeling in their mind about the experience. Make sure you’re presenting the best face of your house by ensuring that all of its maintenance needs are met prior to putting it up for sale on the market.
Getting the right real estate agent on your side is another essential step in getting the best possible deal for your property. If you want experience and knowledge of the real estate market to call on, look no further than our experienced team with years of background in the industry. Contact David Dorman today and get the best value possible for your home!