When you purchased a home, you were looking for a place to live in with your loved ones. You were probably satisfied that you bought a house and thought nothing more of it.
But did you know there are things you can do to your house to increase its value? Although you may want to live in it forever, you never know what will come up. If in future you need to sell it, you want to get the best price for it.
Renovating your house can also help you when it comes to meeting your refinancing goals.
Here are a few ways you can increase the resale value of your home.
#1. Remodel the kitchen
The kitchen is one of the most used rooms in a home.
Potential home buyers want a nice kitchen. However, any changes you make to your kitchen should make it more functional. Avoid putting in unnecessary things that only look good but will increase the cost of maintenance or make it look small and cluttered.
Here are a few things you can do to improve your kitchen that will profit you later.
- Change the color: Color is a big factor when it comes to the kitchen. Paint is cheap, and it can make a big difference to the appearance of a room; neutral colors, such as white, appeal to most buyers. Investing in a tile backsplash with attractive colors can also improve and modernise your kitchen in a way that will appeal to most home buyers.
- Replace the appliances: Nobody wants old appliances. They don’t look good, they use more electricity and are prone to constant breakdowns.
Install modern appliances to improve the value of your home. Stainless steel appliances are sleek looking and attractive to many home buyers. If you can get all the appliances from the same brand, it will give the kitchen a cohesive look.
Purchase energy star-rated appliances to save energy and earn rebates.
If you are looking for the right to time to buy kitchen appliances for your renovation project, do it when there is a sale.
#2. Improve your HVAC
If your HVAC system is old, you may consider asking an expert from New Jersey air conditioning companies to replace it with a modern one.
You could also do other things to improve the efficiency of the HVAC. Here are some suggestions.
- Fix the insulation. A good option is installing energy-efficient windows and doors. You can get tax credits for installing energy star rated windows from your utility company and the State.
- Choose energy-efficient HVAC components. They are modern and easy to maintain. It’s worth it, especially if you can get tax breaks from your state for installing them.
- Install heating and cooling options that make it easier to live in the home during extreme weather conditions. For example, putting in heated floors can attract buyers.
#3. Upgrade the bathroom
Bathrooms are another essential part of the home. Potential homebuyers pay attention to the number of bathrooms and how they look before they purchase a home. Here are some things you can do to improve your bathrooms;
- Add some bathrooms: Potential buyers appreciate extra bathrooms. Therefore, if you have an empty room that’s at least 35 feet in the home, you can turn it into a full bath with a tub. Any unused area of the home, such as a closet that is at least 18 feet, can be turned into a half bath.
- Replace the taps, sinks and toilets: Invest in water-efficient, modern looking taps, and toilets. Install a spacious counter with a double sink. Many people (especially couples) appreciate two sinks. If you want to save money on your bathroom renovations, purchase your bathroom accessories when there is a sale in stores.
- Add some storage: There is always a need for storage in a house. Bathroom storage is especially necessary for things like towels, toiletries, and cleaning items. You can always find room for extra storage in a bathroom. Under or above the countertop is a popular choice.
#4. Add some extra rooms
Spaces in your homes that are unused can be turned into something useful that buyers will appreciate. For example, you can turn an attic into an extra bedroom and a basement into an office.
Homebuyers prefer homes with open layouts. If you have rooms you can merge by knocking down a wall, do it. A living room that leads to an open kitchen is a popular choice.
The trick is to create a versatile room that potential buyers can change into anything they prefer. Make sure it has good lighting as well. No one likes dark spaces.
#5. Curb appeal
The outer part of your home will also affect the resale value of your home. After all, that’s the first thing buyers see when they walk into your home. A good first impression increases the chances of selling.
To improve the outside of your house, you can;
- Change the door: Buyers appreciate a steel door as opposed to wooden ones. Also, choose some attractive colors for the door, and if you can add some potted plants next to it, that will be great too.
- Create a water-conserving landscape: It doesn’t have to be a big project. Plant a few shrubs and plants that are native to the area and are easy to maintain.
- Mow your lawn and keep the garden neat.
- Build a deck: A deck is an especially great investment because people want houses with an outdoor space. Keep it simple with durable wood and a cozy sitting area. You can add a few plants too.
Renovations projects that are not a good idea
When it comes to improving the home, you may go overboard. People often get too much into their home improvement projects and spend money that they won’t recoup in a sale. Here are some home renovation projects you should avoid;
- Building a swimming pool: Pools are expensive to maintain. They can increase your home insurance and can be a safety hazard for families with small children. Many home buyers avoid purchasing homes with pools.
- Sunrooms: Although they look great and are a beautiful place to spend time, sunrooms are expensive to build. Besides, since they are made of glass, it increases the heating and cooling costs of your home.
Are you thinking of renovating your home?
These are house renovation projects you can do to add value to your home and some you should avoid. At this time, when home prices are high, you may not be able to sell your home but investing any extra money you have to improve your home for future returns is a smart move.