In 2019, there were 5.34 million homes sold.
If you’re looking to sell your home soon, you may be wondering how to compete with all of the other millions of homes on the market. Well, to do that, you can try increasing the value of your home.
If you’re wondering, “How do I increase the value of my home?”, we’ll help break down some home-improvement projects you can try.
Add Some More Space
One thing that always helps to drive up property value is by adding some more space to your home. Square footage is always important, even down to the last square foot. It’s no secret that bigger homes are worth more.
Walk around your home and try and see where you could add more space. Could you turn the garage into an extra bedroom? If you have an unfinished basement, finishing that up will also let you add square footage to the house.
Even if you can’t add more physical space, you may be able to make it look bigger. By knocking down some walls and opening up the layout a little bit, you might give the home the illusion that it feels bigger than it really is.
However, before you start knocking down walls and turning your garage into a third bedroom, you should weigh the cost of the home remodeling with the cost of the extra value you’ll get.
Take Care of Some of the Maintenance
When people look for a house, one thing they look for is considering how much maintenance they’ll have to put into a house. If a potential buyer sees your house and knows that they’re going to have to pay extra in maintenance and work, they may not want to pay a higher price for it.
For example, many buyers worry about the air conditioning and heating system. If it’s old and outdated, they know they’ll have to pay more in their utility bills. To avoid that, they’ll have to pay to replace the whole unit.
However, if you install the new unit, then you can show potential buyers and increase the value of the home a little bit since the buyers won’t have to worry about that expense.
Some other things people worry about is whether the water heater, roof, floors, or windows will need maintenance and upkeep.
Redo Your Kitchen
One of the main things people look at when they search around for homes is the kitchen.
Many people like a big, open kitchen with updated appliances and cabinets. If you walk into your kitchen as a potential new owner, would you want to pay for that house?
Updating your kitchen can cost a lot of money, but it can also bring you more money once you finally sell your house.
You don’t have to remodel the entire kitchen, but there are small things you can do to help make it look a little bit nicer. For example, you could add a backsplash. Retile some of the floors.
If the countertops are old, try replacing those. When you replace your appliances, try getting some that are stainless steel. This is very popular and trendy right now, and it will make buyers want to purchase your home.
Repaint Some Rooms
Repainting some of the rooms doesn’t have to be super expensive, but that also depends on how big the room is that you’re going to repaint. This project also won’t take you more than a day or two to complete.
When you repaint the walls, it’s an easy way to freshen the house up a little bit and make it feel new and open. Try choosing neutral colors that everyone will love, like a light grey, beige, or an off-white. These colors will never go out of style.
Neutral colors feel more contemporary and stylish. Whereas if you paint the wall something like green or red, you may turn off potential buyers and actually drive the value of your home down.
If you do repaint your rooms, make sure you choose a good quality paint like Sherwin-Williams or other well-known brands.
Update the Appliances
As we said before, making sure the buyer will have almost no maintenance when they move in will be extremely helpful. But updating the appliances so they won’t have to worry about them breaking down is even better.
If there are a few things that are run down or close to being broken, go ahead and spend the money to replace this. When you go to list your home, then you’ll be able to also list what appliances are new as well!
Incorporate Upgraded Technology
When you’re updating appliances, you’ll also want to make sure that you get some of the latest technology. If you replace the fridge with an older fridge, then it’s not really updated.
Many buyers are looking for “smart” technologies. Whether that’s their fridge or the thermostat, it’s always appealing.
There are also smart carbon monoxide detectors, security cameras, light fixtures, door locks, and fire detectors as well. It may not always increase the actual value of the home, but people who are looking for this tech will be more than happy to pay extra for it.
Discover More Answers to, “How Do I Increase the Value of My Home?”
These are only a few answers to “How do I increase the value of my home?” but there are so many more renovations you could do.
The real estate market is always changing and being updated with new trends, and it can be hard to keep up with all of it!
Thankfully our website helps break down what’s new and trending. If you enjoyed this article, make sure that you explore our website to find more just like this one!