If you’re thinking about putting your home on the market soon, it’s important to do some upgrades that will increase its value. These improvements will also make it more enjoyable and comfortable for you while you’re living there.
But be careful not to overspend on updates that won’t pay off in the long run. Here are seven popular ways to boost your home’s value:
1. Paint It Up
Repainting your house is one of the best ways to increase your home value, especially if you choose colors that are trending. Paint is a low-cost, yet effective, way to improve your home’s look and boost its resale value.
However, it’s important to know which painting projects add value and which don’t. You don’t want to spend money on improvements that will only detract from the overall value of your home. If you’re considering a painting project that will help you boost your home value, here are some tips on how to pick the right color.
2. Upgrade Your Appliances
Depending on the market and who you plan to sell your home to, investing in new appliances may not increase your value. However, if your old ones are outdated or broken, replacing them can make a significant difference in how attractive your home is to potential buyers.
When choosing upgrades, choose energy-efficient options as they can save buyers money during the time they live in your home. Other upgrades that are cost effective and add value include a fresh coat of paint, upgraded windows, and thoughtful storage solutions. These updates will give your home a much-needed facelift and make it more appealing to buyers.
Maybe find out what does home warranties cover and see if your home warranty offers coverage on replacing a broken appliance.
3. Add a Pool
Many homeowners want to add a pool to their home because it is a lifestyle enhancement. However, it is important to remember that a swimming pool will not always increase the home value.
Adding a pool can actually decrease the home value in some markets. This is because a potential buyer may not want to deal with the cost and maintenance of a swimming pool.
In addition, if you don’t have the right space for a pool, it won’t be able to add value to your home. If you do decide to add a pool, make sure it is well maintained and that it fits the neighborhood.
4. Add a Deck
A well-done deck can increase your home value significantly. However, you must remember that a deck will also increase your property taxes. It is important to weigh
these increases carefully.
Many homeowners make costly renovations that don’t add much value to the home. Some may even decrease it. A luxury bathroom or a pool, for example, may seem like great upgrades but not everyone will want them when it comes time to sell.
A stunning kitchen, on the other hand, will grab buyers’ attention and likely increase offers. A few simple cosmetic touches, such as painting cabinetry and swapping out hardware can transform the kitchen.
5. Upgrade the Flooring
Upgrading the flooring can add a nice touch to your home. It’s something that will appeal to most buyers and can increase your home’s value.
If you have carpet anywhere in your house, it’s best to replace it with a wood-like flooring material such as luxury laminate or hardwood. These types of floors look luxurious and are easy to maintain.
It’s also important to keep the flooring consistent throughout the entire house. Real estate agents say that buyers will often walk away from a home with disparate flooring.
6. Upgrade the Plumbing
Upgrading your pipes may seem like a minor upgrade, but it can have a big impact on home value. Old or damaged pipes can lead to water leaks that can cause damage to walls, floors, and furnishings, which is a major turnoff for potential buyers.
Modernized plumbing fixtures complement your home’s design, add convenience, and save on water. Plus, eco-conscious features are a huge selling point for many homebuyers.
These upgrades are a great way to increase your home’s value before you sell. Other popular ways to boost your home’s resale value include adding a new bathroom, which can add 168% to the value of a house, and upgrading the kitchen, which adds 78%.
7. Add a Garage
A garage is a big deal for many homebuyers. It adds square footage and functions as a storage space, workshop, spare room, or office. These flex spaces are increasingly appealing to buyers who want to pursue their hobbies, work from home, or exercise at home.
Whether your garage is attached or detached, it should be built to complement the style of your house. Widening the access door or adding windows can make it feel more usable and increase value. Likewise, simple improvements like cleaning the siding and trimming the bushes can instantly boost curb appeal.