Owning a home is an investment in your future and a great way to build wealth. While it’s hard to predict a home’s resale value, there are several improvements you can make while living in your home to add value when you decide to sell.
If you want to make improvements that will increase your home’s value, here are 7 tips to show you where to get started.
- Paint: One of the simplest and most cost-effective home improvements is freshly painted rooms that look clean and updated. You will want to choose neutral paint colors that appeal to a larger audience. When it comes time to sell your house, you can also paint the outside of your house to give it extra curb appeal.
- Be Energy Efficient: 70% of real estate professionals agree that promoting energy efficiency in home listings is valuable. Energy-efficient upgrades you can make include lighting, heat and cooling costs, energy-efficient appliances, and window, door, and siding installation. These upgrades will help with your energy costs now and increase your home’s value in the future.
- Add Technology: Most new homes are outfitted with the latest in smart home technology. This includes smart thermostats, fire detectors, cameras, locks, and lighting systems.
- Low Maintenance Landscaping and Plants: Curb appeal is a major factor in a home’s resale. Start now by installing low-maintenance landscaping and plants that add curb appeal, but require less maintenance.
- Increase Square Footage: Bigger homes sell for more money. On average, the median price of a home is $200 per square foot, so adding more square footage is a great way to add value to your home. Whether you are knocking out walls to add space, adding an additional half bath, or even adding another bedroom, all these upgrades will increase the sale value of your home.
- Kitchen Updates: Almost any kitchen update will add value to your home. Whether you are updating appliances, fixtures, or cabinetry, kitchen updates are extremely important.
- Keep Up With Maintenance: Keep up with regular maintenance and repairs around your home. While small repairs may not seem important now, they will save time and money later down the line when it comes time to sell.