Your home is not just a place to live in with family and entertain guests. If done properly, your home can be a unique investment opportunity that can be used in building your wealth. Home or property appreciation is a unique way an individual can build equity through their homes. One sure way to increase the value of your home is by making home improvements.
Home value appreciation goes beyond allowing inflation to dictate your home’s value, as this may have a lot of factors embedded in it. A lot of homeowners believe their home is their greatest asset and expect it to rise in value over time. But factors such as location and the market popularity determine how much your home will be sold.
Here I will be discussing ways to increase your home value . Whatever your reason for increasing your value home might be, use the tips below for an excellent result.
Beautify your home
Beautifying your home serves dual purposes; firstly, it makes the home more attractive to the owner and prospective buyers. Updating your home’s interior décor is sure going to boost the receptibility of a potential buyer to your home. Its allure will attract and be a great selling point.
For example, a survey on remodeling your kitchen shows that it could cost about $23,000 but can add about $18,000 to the sale’s value of your home. So, investing money in adding beauty to your home is sure to increase its value.
Home maintenance while updating the essentials.
Maintenance involves carrying out routine tasks that keep the home in great condition. Proper home maintenance will save you from granting credits when selling your home. You’ll get top dollar on your property by doing basic maintenance.
Basic maintenance may include; updating the essentials such as your heater, electrical panel, furnace, etc. These essentials help to keep up the energy efficiency of your home. Proper maintenance and updating on your home essentials become more advantageous during a home sale.
Make your home energy efficient
A report on energy efficiency in homes shows that about 70% of realtors agree that promoting energy efficiency in homes is vital to increasing your home value. Installing energy-efficient lighting and appliances to landscaping for energy conservation and installing energy-efficient windows, doors, and sidings all tend to reduce utility costs and increase your home value.
Use technology (smart appliances)
The concept of having a smart home is appealing to more and more people, and these persons wouldn’t mind paying the extra bucks to get their dream home preinstalled with smart technology. Having your home fitted with smart devices like cameras, thermostats, and fire detectors will surely be a good way to increase your home’s value.
Make your home bigger
Making your home look bigger will greatly impact its value as most buyers will be looking for homes with bigger space. You might need to knock down some walls to make your home look larger or replace draperies with blinds or shutters to let light in