5 Ways To Increase Your Home’s Resale Value
The value that you have in your house is one of the most important reasons why you prefer to own, rather than rent a home.
If you’re looking to sell your home, you should know a few ways that you can put more value back into the house. However, making home improvements does not always guarantee an increase in the value, especially if you choose the wrong items.
Nonetheless, any home improvement should at least make your house more attractive and increase its value when compared to competing houses. Here are the best ways you can drastically increase the value of your home:
Enhance the curb appeal
Research shows that most buyers decide whether they like a property even before they enter the house, and it can be quite difficult to shake off bad first impressions created by an unattractive exterior. Here are a few ways you can get homebuyers excited before they come in:
- Roof replacement: Installing a new roof gives an average return of 62.9 percent of the cost of installation through increased home value. A roofing replacement is more attractive for curb appeal, more durable to protect you against Canadian winters, and provides better insulation and energy savings, especially shingles that come with an Energy Star rating and designed to reflect solar heat.
- Professional landscaping: Things like mowing the lawn, reseeding areas where the grass looks thin, adding flowers along pathways, and trimming trees, hedges, and anything else that might interfere with the view of your beautiful home is a great way to make it more inviting.
- Front porch makeover: Start by painting the mailbox, and then consider adding a chair or bench to the front porch for a decorative touch. Anything to make your house look like a home where people can envision themselves living is essential.
- Park the cars in your garage, or get them out of the way entirely. You want your potential buyers to concentrate on the home, not on external distracting factors. Ensure that your home is the first and only thing that grabs a buyer’s attention.
With households cutting their entertainment budgets, they’re spending more time at home, so adding a composite deck is a good investment with a high expected return.
The kitchen receives the most foot traffic in a home, and will make a huge difference of your home appealing to a potential buyer. Consider updating any appliances that are more than 3-5 years old, upgrading the countertops with granite or concrete, and changing the cabinetry with wood surfaces and custom features, like wine racks, crown molding, custom woodworking, and glazing.
There are many other changes you can make in your home to increase its value, like upgrading the flooring; upgrading plumbing fixtures in the bathrooms, and window and siding replacements. But whatever changes you make, remember to stage your home when it comes time to sell! Appearance really is everything in gaining attraction, so set yourself up for success by creating an environment that matches the market you’re trying to appeal to.