Whether you are planning to sell in the near future or you simply want to continue to grow the value of your home investment, there are many steps you can take to increase the value of your home. Here are five ways to add value:
Update the Kitchen
Many prospective homebuyers zero in on the kitchen, and are looking for bright, updated kitchens. Remodeling a whole kitchen can require a lot of money, so start off small. Installing modern hardware on your cabinets and drawers will give your house a bump in value.
Replacing old or outdated light fixtures and painting the cabinets are both low-cost and will improve the overall look of the kitchen.
If your appliances do not match, consider ordering new doors and face panels from the manufacturer. This will give the kitchen a more cohesive look without the high costs of replacing appliances. Talk with a real estate professional about what makes the most sense and what will get the home the best offer.
Cosmetic changes can make a bigger impact on buyers than more intensive renovations. A fresh coat of paint throughout the interior and exterior of the house can increase the home’s sale price by as much as 5 percent, and it’s not that expensive either.
Begin by repainting any rooms with an “odd” color scheme, for example, did you let your then 8 year old daughter paint her bedroom pink 10 years ago? If so, then that is a good place to start.
A painting hack: Professional painters usually paint the trim first, and then the ceiling and walls. This is because it’s easier and faster to tape off the trim than to tape off the walls.
Finish off your basement and/or any other unfinished spaces
Finished square footage is an important calculation when determining the house’s market value.
Add flooring and drywall to the basement for an additional family room or a man cave.
The more versatile the room, the more appeal to potential buyers who then can personalize the space.
If you want to contract the work, we have many trusted service providers, so give us a call at 612-500-6929!
Freshen up your curb appeal
First impressions are the most important factor when looking for a new home. From power washing your driveway to installing a new front door, improving curb appeal can make a big difference.
Scrub the house’s siding or replace it all together to give a fresher look and feel.
Upgrading the landscaping is another way to boost the curb appeal. Mow the lawn, add shrubs, planters, and mulch to enhance the exterior appearance of the house.
These changes don’t cost much, and you can do many of them on your own. Both potential buyers and appraisers will be influenced by this visual impact.
Improve Energy Efficiency
Energy efficient appliances reduce utility bills while you own a home. Plus, when you want to sell, the upgrades will offer more appeal to buyers. For example, a smart thermostat helps improve energy efficiency and save money. However, this quick upgrade can cost between $200-$500.
If you are wanting to keep a low-budget, you can add insulation to the attic, seal cracks around doors, windows, light switches, and electrical sockets to help prevent energy loss.