7 Upgrades to Increase Your Home Value
As a homeowner, you should always be looking for opportunities to increase your home value. What will make it more appealing to buyers when it comes time to sell? How can you invest some money now to make upgrades that will boost the property’s resale value in the future?
Here are 7 strategic and functional upgrades we recommend to increase your home value:
1. New Windows
New windows not only look nice, but upgraded windows will provide significantly more energy efficiency for your home. Older windows waste energy and force you to run your heater or air conditioner more than you should. Today’s buyers are all about energy efficiency, so replacing any outdated windows or doors is a great place to start.
2. Energy-Efficient Appliances
Speaking of energy efficiency, it may be time to upgrade some older appliances. Take a look at your refrigerator, dishwasher, washer/dryer and HVAC system. Consider installing new appliances with better energy efficiency. Think about installing a smart thermostat, new light fixtures and anything else that can modernize your home and appeal to energy-conscious buyers.
3. Kitchen Renovation
While you are looking at your kitchen appliances, you may want to think about making more significant upgrades to the kitchen. This is the most important room of the house in the eyes of most home buyers. Make it look as nice and modern as possible. You don’t need to go crazy, but sometimes a fresh coat of paint or new finishes/surfaces can go a very long way.
4. Bathroom Renovation
If the kitchen is the most important room in the house, then the bathrooms are next in line. Install a new toilet or steam shower. Lay down some new tile, replace grungy old fixtures or repaint the cabinets. Find ways to make your bathrooms look nicer and function better.
5. New Flooring
Dingy and ragged carpets can significantly decrease the resale value of a home. You may not need to go all-out with new hardwood flooring, but replace the carpets or install another type of flooring that looks better and is easier to keep clean. If you already have hardwood floors, you may just have to refinish them.
6. Add a Deck or Patio
If you have decent outdoor space, you may want to think about adding a deck or patio (or redoing whatever outdoor living spaces you already have). Home buyers love attractive and functional outdoor spaces!
7. Find a New Bedroom
The more bedrooms and living spaces you can create, the better. You don’t have to add on to your property, but perhaps there is an existing space you can repurpose into a new bedroom. Guest rooms are high-up on the list of buyer priorities these days. Maybe you can convert an attic, basement, den or storage space into an extra bedroom.
You don’t have to break the bank to make some of these upgrades. Find things you can do that you can afford. And, remember that these are investments in your house. Many will pay for themselves in the long run if they increase your home’s value. Whether you plan to sell soon or you are just thinking long-term, it’s always good to find ways to make your house a better place to live and a more attractive property to sell in the future.