There are many ways to help increase a home’s value. Some factors that determine what a house is worth, such as the location and the popularity of that market, are out of your control. If you are like most American homeowners and believe your house is your biggest asset, taking good care of it is most likely a top priority. Luckily, repairs, upkeep, and improvements are great ways to increase a home’s value over time. These are simple ways you can build equity or raise the value of your home when you sell.
Make it More Attractive
Curb appeal can do a lot, as it is your first chance to make a good impression. Your home’s exterior should make a prospective buyer feel compelled to come in.
Be sure to keep all landscaping well-maintained. If your yard is a bit dull, then you can plant flowers or repaint the front door to liven it up.
Then you will want to take notice of how the kitchen and bathrooms are looking. If they are outdated, it will keep a property from reaching its highest valuation. This doesn’t have to be anything lavish. Generally, a minor kitchen and/or bathroom remodel will pay for itself in added value, such as doing new flooring and a few updated fixtures.
Keep it Low-Maintenance
A home is such a significant purchase on its own, so most home buyers are not interested in looking at a house that will need constant maintenance. Consider replacing major appliances and components like the furnace, water heater, or even the roof. This will greatly help reduce reg flags for emergency repairs in the near future and help you achieve a better appraisal. Be sure to secure Augusta Homeowners Insurance so you are ready for whatever comes your way.
Even the simplest of improvements can increase home value. Replacing carpet with hardwood floors or high-maintenance wood siding with vinyl siding can go a long way. It is inevitable that things will go wrong from time to time.
Efficiency at its Finest
Energy conservation features can also have a huge impact on home value. Energy-efficient mortgages not only allow borrowers to take on additional debt to cover the purchase of the home, but for the energy-efficient upgrades as well. These features can also allow homeowners to get lower mortgage rates to increase purchasing power. With some simple installations, you can entice energy-conscious buyers.
Energy-efficient installations to consider:
- Double-pane windows
- Enhanced attic insulation
- LED lighting
- Efficient appliances
- Solar panels (This is pricier, so it is for increased value over the long term but it will greatly increase perceived property value)
An energy auditor or your utility company can assess your home to determine where you are wasting energy and which upgrades will save the most money.
Go Big or Go Home
Square footage has a huge impact on the value and is one way to compare homes that are similar in style and upgrades. Larger houses usually receive higher values. Even if an appraiser does not officially acknowledge the full value of added space, buyers will notice.
Adding an extra room is just one way to make your house bigger. You can also consider creating additional living space by making an area of your home more liveable such as finishing a basement, for instance, or building a deck.
Make it a Smart House
Most buyers nowadays want smart safety-enhancing gadgets in their new homes.
These devices include:
- Fire detectors
- Carbon monoxide detectors
- Security cameras
- Door locks
Smart tech is not guaranteed to increase home value, but it will certainly add appeal and many individuals are willing to pay more for these items. You are also most likely able to install them yourself for no more than $1,000.
About Provident Protection Plus
At Provident Protection Plus, we have served the businesses and residents of New Jersey, New York, and Pennsylvania for more than 65 years. We are a wholly-owned subsidiary of Provident Bank, the region’s premier banking institution, and we are prepared to offer you personal, business, employee benefits, and risk management solutions. To learn more about our coverage options, contact our specialists today at (888) 990-0526.