Top 7 Ways to Increase
the Value of Your Home
Whether or not you’re planning on selling your house, renovations to your home are always a great idea. Not only will renovations help to drive up the value of your home but they will also make your home a more welcoming place for you at the end of a long day.
Since we live in a fast moving world that’s full of surprises, when deciding which renovations to make to your home, it’s helpful to consider not only what appeals to you but also what might appeal to a potential buyer. Even though you might feel like you’ll never move, if another great job opportunity opens up elsewhere, you want to make sure that the upgrades you’ve made to your home are truly good investments.
The color of your walls is one of the simplest and cheapest ways to quickly add to the value of your home. So if you’ve never been in love with the color that the previous homeowners painted the dining room, now’s the time to change things up!
And if you’re considering selling your home in the near future, choosing the right color paint for your walls is crucial; when you put your home on the market, a neutral color is the best option. Neutral colored walls help potential homebuyers see themselves in a space.
Unfortunately, painting a room (or two) can take quite a bit of time, and if you’re like most busy people, you probably don’t have time to do the painting yourself. That’s where a professional comes in handy.
If you’re in the East Tennessee area, HEP’s handyman service can quickly come in and complete any painting you want, getting your life back to normal quickly.
Nothing says “outdated” quite like an old light fixture. While changing out a boring light fixture won’t add a tremendous amount of monetary value to your home, it can make people feel more at home. A tasteful but inexpensive chandelier can make a potential buyer remember your house more vividly than a dull one.
Buyers want a nice, bright space, so use natural light to your advantage, but in those places where natural light isn’t an option, choosing tasteful light fixtures can really be a worthwhile investment that can make your home seem brighter and more airy to you and potential buyers, a great option for increasing the value of your home.
5. Regular Maintenance
Regular maintenance is one of the best things that you can do to increase your home’s value, but many people tend to overlook simple routine maintenance. If you’re trying to sell your home, an old and noisy HVAC unit or a leaky faucet can be worrisome to potential buyers. When buyers see things like this, it’s natural for them to fear the worst and wonder what they’re getting themselves into with your home.
Even if you’re not planning on putting your house on the market, routine maintenance is key to lengthening the life of your appliances. HEP’s maintenance agreement makes it easy to keep up with routine maintenance.
4. Outdoor Space
Few things can make your home stand out quite like a great outdoor space. For anything from relaxing on a sunny afternoon or entertaining friends, an outdoor space can add tremendous value to your home and help you get the most out of your home.
According to some reports, in 12 of the nation’s major markets, a midrange wooden deck addition will completely pay for itself in an increase in your home’s value. Nationally, a new wooden deck addition costing $10,048 can add as much as $8,085 to your home’s value, recouping over 80% of your investment.
Building a deck isn’t right for every location, however. If your climate is too cool for much of the year, it makes little sense to invest in a fancy outdoor space, but if you live in East Tennessee, building a deck is a great way to increase your home’s value. East Tennessee is a beautiful part of the country, and our moderate climate makes it a great place to enjoy the outdoors. Adding a deck to your home, or upgrading the one you have, is a great way to cash in on the naturally tranquil setting.
3. New HVAC System
A shiny and new HVAC unit will give you more than just peace of mind through the cold winter or hot summer — it’s also a welcoming sign for potential buyers. If you haven’t replaced your HVAC system in a few years, it’s a great time to take a look at the new selections on the market.
A new HVAC unit can make your home more appealing to potential buyers, but it can also save you money on your electric bills every month. New, more energy-efficient HVAC units can be a tremendous savings for your bottom line. Get advice from a specialist about what kind of HVAC unit is right for your home. A unit that’s too small or too big can lead to other problems, so it’s important to purchase the right size for your home. If you’re in the East Tennessee area, HEP’s trained technicians can come to your home and tell you what size and type of unit would be the best fit for your home (and your wallet).
Buyers are notorious for overestimating the cost of repairs to HVAC units, so if you have a new unit waiting for them, it makes it harder for them to complain about replacing the unit, and it gives you another selling point!
2. Bathroom Remodel
If you ask any real estate broker, generally two rooms sell houses, and one of those rooms is the bathroom. In recent years, master baths have started to resemble something like personal spas rather than bathrooms; increasingly, people are looking for a place to relax and unwind at the end of the day, and luxurious bathrooms fit the bill.
1. Kitchen Remodel
The only room that sells a house faster than a bathroom is the kitchen. Kitchens are more than just places to prepare and eat food. The kitchen is also gathering area for you and your family, and it’s a place for you to entertain your friends. But you still have to use the room to cook, so the kitchen pulls double-duty.
A fresh kitchen remodel will help potential buyers see your home as somewhere that they can see themselves cooking and eating food as well as entertaining friends. The good news is that a kitchen remodel doesn’t have to cost a fortune. Adding a farmhouse sink, new fixtures or even glass mosaic backsplash can really change the overall appearance of your kitchen.
Even if you’re not planning on moving any time soon, doing simple things will help you increase the value of your home and help you get the most out of your home. Do you have more tips for adding value to your home? If so, leave your ideas in the comments below!