Every homeowner wants to increase the value of their home - but it can be difficult to know what additions are the best investment long-term.
Whether you’re thinking of adding a new room, finishing your basement, or remodeling an en-suite, you’ll want to make sure your improvements benefit your property’s value for the long-haul.
Here are 5 ways you can increase the value of your home and get a better return on your investment.
1. Follow home staging tips
If you’re presenting your house to potential buyers, home staging techniques can actually increase the value of your home by quite a substantial amount.
Recently, agents have said that local sellers in the Rochester, NY area have increased the dollar value offered by buyers by 1-5% compared to homes of similar size and 17% have said that it’s actually increased the value by 6-10%.
They did all this by following a few home staging tips and increasing the beauty and aesthetics of their home.
So, if you’re a homeowner and your house is worth $300,000, there’s a chance that by following home-staging techniques you could boost the value of your home by $3,000 - $30,000.
If you do decide to change up your home and bring more life into it, what area are you thinking of doing up?
Here are the four most common rooms that have work done on them to help increase a home’s value:
- Living room
- Kitchen
- Master bedroom
- Dining room
Let’s take the kitchen as an example of how adding beauty to your home can increase the value in the future.
Kitchen remodels usually includes things like:
- Updating appliances
- Installing new cabinets
- Getting new countertops
- Buying new flooring
This type of project tends to regain about 80% of what was initially spent, meaning you might add more than $18,000 to your home’s value!
You can also improve your home’s value by doing up the outside of your property too. Many people judge a book by its cover, so be sure to make the outside of your house look amazing!
2. Create more space
People love space. Nobody likes to feel cramped in their home - space is a very important and key factor in increasing the value of your home.
The best way to increase the amount of space in your home is to build an extension, but sometimes it isn’t an option to extend your home.
If this is the case consider removing some walls to make rooms bigger or to join a kitchen with a dining room. This might not actually be increasing the size of your home physically but it’ll give the appearance of a larger space.
The roomier your home appears the more appealing it’ll be to a potential buyer in the future.
3. Improve the energy efficiency rating
Most real estate agents will let you know that promoting good energy efficiency in a home is a major selling point.
The better the energy rating of your home is, the more valuable your home will be on the market.
People love to save money on electricity and heating, so if you’ve got a good energy efficiency rating your home’s value will be a lot higher.
Here are some of the most environmentally-friendly (and buyer-friendly) features that you can have in your home:
- Low heating costs
- Low cooling costs
- Windows and doors have siding installations
- Energy-efficient lighting
- Energy-efficient appliances
- Landscaping for energy conservation
- Solar panels installed
4. Complete minor repairs to your home
Sometimes when things get broken, we tend to push it to the back of our minds. We’ll fix it later! No need to worry about it now.
But these dents, cracks, and scratches could be impacting the value of your home - which is why it’s important to get them fixed up as soon as possible.
If you leave cracks or dents for long periods of time they could develop into a bigger problem. Better to do all minor repairs straight away and get your home looking like new again.
So, touch up moldings and door frames, add some WD-40 to the hinges, and refinish your hardwood floors to give them that new look.
Every little bit counts towards increasing the value of your property.
Be sure to test all your toilets, drawers, cupboards, windows, and even your smoke detectors to ensure they’re all working properly.
5. Update your bathroom
The bathroom is one of the best rooms to renovate in your home - even if it’s just a small renovation.
You don’t have to renovate your whole bathroom for it to be beneficial. You can start by doing jobs like:
- Installing a new vanity
- Replacing old plumbing
- Putting down new tiles
- Updating the wallpaper
- Giving it a new coat of paint
- Changing up the lighting fixtures
- Install a new bath or shower
These jobs will guarantee a strong return on your investment and it’ll give your bathroom a beautiful, updated modern look.
The Fitch Construction team takes great pride in creating unique spaces of any size, for any function, and strives to provide outstanding quality customer service.
If you’re ready to invest in increasing the value of your home, get in touch today or call us on (585) 377-3330.