As a homeowner, you see your house as an investment, and like any investment, you want to do what you can to increase the value and return on that investment. There’s an endless list of projects you can take on to help increase the value of your home, from the simple to the more complex, that can work with any budget.
But don’t fret! Increasing the value of your home isn’t as daunting as it may seem. Below, we’ll outline 5 tips for making your house more than a home – but a worthy investment, indeed.
01. Modernize Your Kitchen
Updating your kitchen doesn’t necessarily mean gutting everything, floor to ceiling. Instead, you can work on upgrading your kitchen piecewise, starting with the areas that matter to you the most. Consider starting with the appliances, since this something that adds practical, functional value in addition to aesthetic value. Stainless steel appliances are popular due to their clean, modern look.
Once you have replaced your appliances, you can start to visualize the style that you’ll want to apply to the rest of your kitchen upgrades. Once you’ve chosen a general aesthetic, from the color scheme to the overall style, you can start by replacing the cabinets, drawers, and storage space.
Finally, consider replacing the countertops – quartz is a more practical and less expensive alternative to marble or granite – the backsplash and the floors. Choose a classic, clean look that will have broad and timeless appeal to elevate your resale value.
Upgrading your kitchen can increase your home’s value by anywhere from 3-7%.
02. Find Some Energy Saving Solutions
Energy costs can vary due to several different and important factors. These can range from insulation to something as simple as your energy plan. Energy efficiency is the name of the game right now, especially with younger home buyers. There are several ways to improve your home’s energy efficiency that might surprise you.
First, keep in mind that the types of windows your home has can determine much of your energy efficiency. The best way to capitalize on this is to get your windows changed to Energy Star certified windows so they can retain the heat of your home more efficiently than your old ones. Other examples are using LED-based light sources and efficient water heating.
You can save up to 7-15% in energy costs due to switching to Energy Star certified windows.
03. Fresh Coat of Paint
It might seem a little overly simple, but giving your home a fresh coat of paint is an age-old, as well as proven, way of increasing the value of any property. This can be either the exterior or the interior of your home, but the important thing to consider is not to go crazy with the paint job. If you go down the path of repainting every inch of your home, you’ll end up spending more than it’s worth.
With that said, you should focus on areas of the home that will stick out but not overwhelm. This means on the exterior of the house, consider painting the window trimming instead of the entire structure. On the interior of the house that you should only focus on the higher traffic areas of the home including the kitchen, bathroom, game room, or areas with social interaction in mind.
But what kind of colors are needed? This is, of course, subjective, but it’s important to consider the tastes of those to whom you’ll be trying to sell. This is why it’s important to consider neutral tones, which appeal across generations, according to experts.
A fresh paint job can help boost a home’s value by 1-2%.
04. Take Good Care of the Yard
Taking care of your yard boosts the curb appeal of your home, setting the tone for any prospective buyers and sending a signal that you cares not only about the outside of your homes, but the inside, as well.
While adding a deck, a screened-in porch, or cultivating a vegetable garden can certainly increase the value of your home, they can be potentially costly projects. If you’re not ready to spend more money planting trees or breaking ground on a brick patio, there are some low-cost upgrades you can make to your yard – if you’re willing to roll up your sleeves and get dirty.
Clearing weeds and replanting wilted flower beds, uprooting dead bushes and pruning tree branches, and of course, mowing the lawn, are all simple ways to improve the look of your lawn and therefore your home. If you live in a water-strapped region, such as the American Southwest, you may want to consider a dry-climate friendly yard where gravel, succulents and cacti replace grass, roses and maple trees.
This can ultimately increase the value of your home by around 3-5%, according to experts.
05. Upgrade Your Technology
While many people appreciate a home with rustic charm and old school character, it’s important to have a home that’s keeping up with the times, especially if you’re trying to increase the value of your home. You can maintain the vintage character of your home while also upgrading the technology behind the scenes – and while this might be a more substantial upfront investments, this can have an enormous impact on the resale value of your home.
For example, consider installing a digital thermostat that monitors and maintains the temperature of your home as well as single unit generators that power individual homes that can keep a home’s energy consumption at a relative baseline. There are several options available, including those from Porch and Honeywell, and overall, they can improve a home’s efficiency.
Compact, energy efficient water heaters, Bluetooth activated smart bulbs, and even electric car chargers are just a few of the ways you can boost the value of your home by installing state of the art equipment.
These upgrades can often increase home value by 3-5%.
Upgrade Your Home Today
Your home is one of the most significant investments you’ll ever make – so don’t let that investment lose its value. Follow these tips to continue increasing the value of your home – protecting it against market fluctuations and ensuring that it will continue to grow in value for years to come.
Carolyn Clark is a freelance writer based in Los Angeles, CA. In addition to writing, she serves as a marketing consultant for small businesses like Atlanta Light Bulbs. In her free time, she takes her dog running along the Malibu coastline.