When it comes time to list your home on the market, you may be thinking of ways to increase the value of your home in order to get an above-market price. While there are many ways to do this, you may find yourself wondering what improvements you can make to your home to increase the value. In the article below, we have listed the top five ways you can increase the value of your home.
The top five home improvements to increase your home’s value are:
1. Kitchen Remodel
It is a well-known fact among realtors that the most popular room to renovate is the kitchen due to the amount of resell value it will add to your home. While the type of remodeling you perform depends entirely on your budget, a few of the ways you can upgrade your kitchen are upgrading to stainless steel appliances, changing the backsplash and faucet, installing new lighting fixtures, or a complete remodel.
2. Enhance the Curb Appeal
Another way to ensure that you increase the value of your home is to update the exterior of your house because this will set a good impression on the potential buyers. There are a multitude of ways to achieve this, including but not limited to, planting new flowers or bushes along your porch, adding lighting to the walkway, adding stone veneer to the front of the house, upgrading to a steel door, and even by touching up the exterior paint.
3. Adding a Deck
More homeowners desire to have a deck or patio at their home, due to the increased amount of stay-at-home vacations. While this is a more costly option if hiring a contractor, it is possible to do this yourself, providing you follow the building codes in your specific area. By adding a deck to the front of your home, or a patio in the back, not only will this increase the value of your home, but it will also make your home look more appealing to potential buyers.
4. Updating Safety Measures
It is estimated that one in 15 homes in the US test positive for radon levels over the amount that the EPA recommends for safety. Due to this, it is highly recommended to have your home tested for radon and, if required, have a radon mitigation system installed. While it is possible to do this yourself for relatively low cost in comparison, the EPA strongly recommends having a qualified radon mitigation contractor perform this maintenance.
Other ways to update the safety measures of your home is installing an alarm system, updating carbon monoxide and fire detectors, and ensuring you have an adequate amount of fire extinguishers or service the ones you currently own; by doing this, you can ensure that your home is safe for future occupants, which in turn, will increase the value of your home.
5. Regular Maintenance and Repairs
One thing that most homeowners neglect, yet plays a major part in the value of your home, is keeping up with regular maintenance and repairs around the house. There is always maintenance that could be done, such as replacing or servicing the heater or AC due to the fact that the average HVAC system will only last for approximately 15 years. Other basic maintenance and repairs could include but are not limited to, roof repairs, fixing drywall, replace broken light fixtures, as well as cleaning pipe and toilet drains.
By following the list provided above, you will have a better understanding of what will factor into the value of your house, and home improvements you can make to increase that value.
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