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One of the most rewarding things about homeownership is adding value to the home. Every improvement you make can increase the worth of your home and, eventually, the selling price when the home is next sold. Whether you're flipping properties or updating your family's long-term home, the right improvements can still create a net value increase with every project.
Building onto the house by constructing additions, finishing unfinished areas, and creating more bedrooms are classic ways to increase a home's value by enhancing the existing property on the lot. You can also update the home, increasing the value of the fixtures and appliances that give it life. Even stylistic improvements like a fresh color scheme and new landscaping can have a positive influence on your home's value.
Today, we're spotlighting how to increase the value of your home, whether you're preparing for a sale, improving the family home, or making a long-term rental investment. Each project can add value in the short and long term by increasing the beauty and function of the house itself.
1. Update the Kitchen
If your house has an older kitchen with dated appliances, a kitchen update can be a highly valuable project. However, the value lies in how much of an update you are installing. Stylish kitchen renovations provide more aesthetic than monetary value when it comes to your next buyers. Technical kitchen updates can hold a great deal of value by updating your kitchen to modern or even high-tech standards. The most valuable updates replace outdated appliances with a recent (but not cutting-edge) model. Your appliances shouldn't have a learning curve unless you'll be living in the house to do the learning.
Keep your style neutral but don't be afraid to add some bold choices like dark paint colors or hidden shelving. If you are the resident, consider how you can renovate the kitchen for versatile decorations in your personal style.
2. Build a Deck
If your yard is large (or bare) enough, a deck might be the perfect addition to your indoor-outdoor home experience. Decks can effectively expand the home's square space which has its own inherent value. The deck also provides a comfortable and aesthetic extension of family life outdoors. Building a deck can help you remember to enjoy your backyard and provide a dirt-free area to enjoy outdoor grilling, partying, and quiet midnight stargazing.
3. Finish the Basement or Attic
The finished space in a home is how home values are calculated. Unfinished attics and basements are storage space only and not considered part of the home's livable areas. Finishing that space, therefore, expands your home and creates new comfortable spaces for the family to enjoy.
Finished attics almost always become a loft bedroom while finished basements can be anything from the lower den to the in-law suite. These projects can significantly increase the value of your home. Future buyers will have more space and more options to enjoy.
4. Renovate the Bathrooms
Minor bathroom renovations are among the highest ROI home improvement projects you can choose. Updating an old bathroom and making a cramped bathroom more comfortable can boost the appeal of the entire house. Consider how important bathrooms are to the family lifestyle. Improving the function and aesthetics of a bathroom (without going overboard) offers very good ROI for your effort.
5. Rebuild the Landscaping
Landscaping can transform the curb appeal and backyard enjoyment of your house. Curb appeal plays a major role in home value but backyard design shapes the family experience. Both can be improved by reimagining the landscaping design. Start with a smart ecological plan using local plant life and thoughtfully graded rain runoff control. Make your yard a dynamic place to explore with multiple shady areas to play or relax. Adding value to a home also depends on the home itself. A home with great bones will adapt well to any improvements you make. Older homes have more room to be improved with update renovations. For professional support as well as finding and financing the right home for you to truly add value as you enjoy the property, contact us today!