Anyone who owns a home has the perfect opportunity to make it into a valuable piece of property. In order to do so, you need to know which home improvement projects will give you the most bang for your buck. By strategically choosing the renovations you make based on the value they bring, you have the chance to make a solid profit when it’s time to sell the house.
When you can successfully make money on selling a house, you can repeat the process with the next piece of property you purchase. About 89% of investors in the U.S. are interested in putting their money into real estate because of the potential profits. Whether you want to be among these investors who focus on buying and selling real estate or you simply want to increase the value of your family’s home, there are many steps you can take. Let’s take a look at three important steps to increase the value of a home.
Make it Aesthetically-Appealing
A major part of a home’s value is the first impression it makes on potential buyers. That first impression comes from your home’s curb appeal, or how it looks from the street. If your home is aesthetically pleasing from the outside, prospective buyers will want to come through the front door to see the interior.
Boost your home’s curb appeal by ensuring the landscaping is well-maintained. A yard that looks disheveled or dull isn’t going to be very attractive to passersby. Make sure that you water the lawn regularly for healthy grass growth. With a sprinkler system, optimal watering should only take about 60 to 90 minutes. If your landscaping is rather plain, plant flowers and shrubs or add an attractive walkway leading up to your front door.
After improving the look of the outside of your house, turn your attention to the inside. Although you could probably tackle projects in every room of the house to make it more attractive, focus your attention on the kitchen and bathroom. When these rooms are outdated, they can keep your home from reaching its highest valuation. Update the fixtures and hardware, install modern countertops and flooring, and spring for new appliances if they are in your budget. These more minor upgrades will make a big difference in your home’s value.
Make it Energy-Efficient
Depending on what area of the country you’re in, having energy conservation features in your home can have a major impact on its value. Many modern buyers are conscious about how their lifestyle impacts the environment and are looking for energy-efficient features that they won’t have to add themselves.
Some of the easiest energy-efficient upgrades you can make are LED lighting, double-paned windows, and enhanced attic insulation. Installing energy-efficient appliances can also increase your home’s value. To find the right appliances, look for the Energy Star logo and pay attention to how the appliance was manufactured. Many appliances are now made with powder coatings, which are free of solvents and have extremely low VOC emissions, making them environmentally-friendly. Choosing appliances with these features over appliances without them can make a huge difference in your home’s value.
Make it Low-Maintenance
Many people who are buying a home are looking for a house that doesn’t need constant maintenance. They’d rather pay more for a house that they don’t have to put work into than pay less for a house that requires some renovations. The best way to appeal to these buyers is to replace major features in your home that are getting a bit old. These features include things like the roof, furnace, or hot water heater.
Of course, replacing these components of your home will cost a considerable chunk of money. If you’re looking to make your home more low-maintenance at a more affordable price, focus on the elements of your home that you find yourself constantly cleaning. Replacing stained or worn carpets is a perfect example of this type of project. You could swap carpets out for hardwood floors for much easier maintenance.
Increasing your home’s value doesn’t have to be difficult, but it will take a bit of work and planning. Do some research on what projects will be most valuable in your local market and start to take steps to tackle those. Soon enough, you’ll increase the value of your home and make it a better place to live.