Clever Hacks That Improve The Value Of Your House
Improving a home's value is an essential task that homeowners undertake intrinsically when they purchase a place to live. It's simply a part of a homeowner's duty to maintain their home in an effort to provide both comfort in the immediate present and financial value over the long term. Real estate can act as a massive quality of life and net worth boost, or it can drain the finances and mental wellness of an individual. The difference comes through the approach to maintenance, renovation, and other upkeep tasks that homeowners either opt to engage in, or neglect.
Organise My House reports that vital upkeep tasks can range from regular repainting (or simple touch up work) to grout cleaning and lawn maintenance. HomeLight notes that improvements aimed at repair and retouching are often more cost effective and value-adding than total renovation in certain areas of the home. With these straightforward approaches to home improvement, boosting value is a matter of dedicated effort rather than a hope and prayer. Read on to learn some of our top tips that may work for your home.
A room refresh is a great start
HomeLight reports that a great place to begin in your mission to improve your home and increase value is to explore the use of smaller refreshes or updates rather than more expansive renovations. A kitchen, for instance, may be lacking modern touches. Rather than ripping out the entire cabinet and countertop set up, you may find success instead in sanding and repainting, replacing cabinet hardware, and adding a new tile backsplash behind the stovetop. These changes are highly cost-effective and can serve the same purpose of changing the environment and feel of the room without having to spend a lot of money.
This approach can be used in virtually any space of the home to great effect. Identifying areas of need is the first step in any renovation or home improvement project, but before breaking out the sledgehammer or calling your contractor, consider how you might modernize and refresh the space if you weren't able to tear out existing features. Deep cleaning surfaces, grout lines, and tight corners can make a big difference as well. Pairing these approaches will give you a brand new feel in the space without having to splurge on new amenities.
Energy efficiency upgrades are essential feature additions
Adding energy efficiency staples to the home is a fantastic way to infuse your property with new value. Many older homes were built without these considerations in mind, and a targeted refit of windows, air conditioning systems, roofing tiles, and more can make a massive difference in your monthly expenses and in the value of your home more broadly. Palm Paradise Real Estate notes that Florida homeowners, for example, can reduce their cooling bills by 33% by updating old single-pane windows, and enjoy a roughly 70% return on their investment.
Homeowners can also take advantage of solar panel installations and other energy-creating options for their homes to further swing the power usage balance (and expense) in their favor. Solar panels aren't cheap, but the benefits over the course of many years are immense and the return can be substantial when looking to sell the property later down the line. You may even be able to take advantage of green mortgage options to help finance these and other energy-efficient installations. Many younger buyers are hunting for homes that already incorporate these kinds of environmentally responsible and efficient additions to a property, making your updated home a hot commodity on the market if you choose to sell the asset.
Hardwood floors create an immense value swing
Hardwood floors are a favorite among renters and property owners, and individuals in either sector will scour the marketplace for a property with beautiful and durable hardwood floors. Realtor.com notes in the current market, that many buyers expect a property to already have hardwood floors, while Clever Real Estate reports that a change to this flooring choice can improve the value of your home by as much as 2.5%.
Adding hardwood flooring to your home can also make a huge difference in the aesthetic of the property, giving the space a much-needed touch of classic elegance that is often a key goal in home renovations. Hardwood flooring will cost a little more than other renovation tasks, but the end result is worth the effort and expense. Not only will you walk away with an enhanced living space, but the financial value of your home also shoots up tremendously with the installation of new and long-lasting planks.
Target areas in need of attention for maximum impact
HomeLight notes that a survey of your home's existing layout and realities can help direct cost-effective renovations and updates. A home that's destined for the open market will require some strategic enhancements, of course, and often these begin with the most distressed areas of the property.
Listing a home that showcases evident flaws and areas requiring improvement (rather than spaces that might benefit from personalization by the new owners) can devalue the property significantly. Focusing on areas that are in obvious need of improvement can help you gain a foothold in the market and more easily increase your asking price. You may have a bathroom that needs new tiles or grout work, a bedroom that's too dark and would benefit from new curtains and light fixtures, or a kitchen that badly needs a cabinet overhaul. Directing your energy to the most visible signs of wear and tear can give you a blueprint for maximizing the efficiency of your labor and cash investment in the home alongside an enhanced improvement to the property value.
Enhance the landscaping for a stellar first impression
Landscaping improvements are often a simple task, with minimal disruption to the day-to-day operations in your home. It is because of this simplicity, however, that many homeowners overlook the importance of this part of their property. The National Association of Realtors reports that homeowners routinely enjoy a 100% return on investment when it comes to landscape improvements and maintenance, and Angi notes that great curb appeal on its own can increase a home's value by as much as 7%. Maintaining your lawn, or successfully installing new sod if your grass has been killed off by heat or weeds, is a great first step here. It should be noted, however, that lawn maintenance is a long-term project that is best done in shifts over the course of many months and years — not exactly a quick fix before deciding to list your property.
A landscaping overhaul typically ranges between a few hundred dollars and as much as $7,000 for a more substantial project, according to Forbes Advisor. Maintaining your lawn with good mowing practices and keeping garden beds watered and weeded will go a long way in establishing great curb appeal for you to enjoy in the present, and reap the benefits of in the future.