Raising your house’s worth leads to a higher asking price once you list it for sale, translating to more profit. It gives you more home equity to tap into when you require cash. With an increased home value, you can safeguard against significant housing market dips. It also boosts your equity share, terminating PMI (private mortgage insurance) premiums. Based on your budget, there are numerous projects you can undertake to enhance your property’s worth. Discussed below are five ways to increase the value of your home.
1. Leverage landscaping
Since many homebuyers progressively prioritize outdoor living areas, landscaping is among the best ways to raise your property’s value. It boosts resale value by an average of 15% to 20%. Landscaping projects not only make your lawn attractive but also raise your property’s curb appeal. They also help attract potential buyers, accelerating your house’s sale. While Landscaping adds value to your home, not all projects do. Some of the landscaping improvements that raise your house’s worth include:
- Planting trees: Trees, particularly mature ones, add color to dull backyards and privacy and also raise your home’s value
- Trimming shrubs and bushes: Neglecting shrubs and bushes leaves your garden unkempt and creates a safety hazard. So, consider keeping them trimmed to boost curb appeal and increase overall property value
- Maintaining a healthy lawn: An adequately maintained lawn can make your garden more appealing and create a lasting first impression. Adding various types of plants, flowers, and vegetables can boost your lawn’s health
Keeping up with landscape maintenance, installing landscape lighting, building a deck, and installing a firepit can also raise your property’s worth.
2. Upgrade or remodel your kitchen
Your kitchen is a significant selling point when it’s time to list your home for sale. A kitchen remodel is one of the most lucrative home improvement projects you can implement to boost your property’s worth while raising ROI. Some of the upgrades that can undoubtedly add value and offer an ROI include:
Replacing, painting, or updating cabinets: Repainting your kitchen cabinets, changing them completely, or updating them is a sure way to transform your kitchen and improve its resale value
- Adding a kitchen island: Prospective buyers prioritize kitchen islands because they increase storage and counter space and can make your kitchen feel bigger than it is
- Replacing countertops: New kitchen countertops will give your space an instant upgrade. They make a substantial difference in your kitchen’s appearance and its resale value
- Updating appliances: If your appliances are old and outdated or don’t function as optimally, consider upgrading. Invest in prime-quality, high-performance appliances to raise your property’s worth
3. Make your home more energy-efficient
With today’s focus on sustainability, energy-efficient houses are attracting higher prices in the housing market. Since modern home buyers usually check EPCs (energy performance certificates) before viewing potential properties, adding eco-friendly features attracts these buyers and raises your home value. The following upgrades can help make your home more energy-efficient:
- Triple or double-glazed windows: Besides improving energy efficiency, updating your windows also ensures heat doesn’t leak out
- Upgrade your home insulation and get professional air sealing: Pairing professionally installed insulation with expert air sealing creates a sturdy thermal border between your indoors and the outdoors, improving overall energy efficiency
- Get a smart thermostat: Smart thermostats aren’t just programmable. They also learn your house’s temperature preferences and enable you to use less energy to heat and cool your home when you aren’t home
- Install solar panels: This enables you to generate your own energy, meaning you’re lowering the amount of power that you purchase from the local utility
4. Repaint your home’s exterior
Painting your home’s exterior offers a substantial ROI of 55% and 150%, depending on your property’s condition, neighborhood, location, and more. It’s one of the simplest ways to ensure an eye-catching, attractive appearance while increasing your home’s value. When repainting your home’s exterior, don’t forget the following:
- Front door
- Garage door
- Fence
- Deck plus other exterior features
A fresh coat of paint makes your home more attractive to prospective buyers and raises its price.
5. Invest in smart home technology
Smart home features can substantially raise your property’s value. Besides making your home stand out in the competitive housing industry, these features make your life easier while increasing your home’s security and value. Some of the smart home security features and other technology to invest in include:
- Smart security systems
- Smart lights
- Integrated home entertainment
- Virtual assistants
- Automated curtains and blinds
- Smart locks and more
Endnote
Raising your property’s worth enables you to profit more when it’s time to sell. Consider improving landscaping, remodeling your kitchen, making your home more energy efficient, and investing in smart home technology to increase the value of your home.
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