One of the perks of owning your home is gaining equity in the property. For many people, this means increasing the home’s value. When you increase your home’s resale value, you’re more likely to gain a profit if you decide to sell your home in the future.
There are a lot of factors that affect whether you turn a profit on your home when you sale. For instance, the neighborhood and your city’s market will play a huge role. However, you do have control over things like the quality and style of your home, both of which can increase your home’s value. Here are some tips for increasing your home’s value without any huge renovations.
1. Boost the Exterior
You should never judge a book (or a home) by it’s cover, right? In reality, many people make their first opinions on a home just based on how it looks on the outside. Luckily, this is a great opportunity to make a positive difference in your home value.
If your home looks dirty and unkempt on the outside, most people assume it’s in a state of similar disrepair on the inside. Paint is the top way to refresh the look of your home’s exterior, and this is a fairly inexpensive improvement. However, make sure you’re choosing the right color. In addition, maintain your siding with a pressure water and household cleaner. Finally, ensure your lawn looks its best and is clean.
2. Protect Your Home
Did you know criminal activity can have a major impact on your home’s value? If your home has been broken into or has some kind of history of unsavory activity, this could put off future buyers and reduce the value of your home. Using an alarm system like Alarm Grid will make it easy to keep intruders from your home.
3. Make Any Repairs
When people buy a home, they want it to be ready to go. Even minor repairs can be a hassle to new buyers. That means you need to take the time to keep up with repairs before you list your home. Doing preventative things like updating the roof, replacing your water heater, or another small change can make your home low-maintenance and appealing to new buyers.
4. Increase Energy Efficiency
Energy efficiency is more than just a passing trend. Increasing the energy conservation features can do wonders for your home’s resale value. In addition, it will attract more buyers since energy-efficient mortgages (EEMs) allow borrowers to take on more debt for an eco-friendly home.
There are many ways to make your property more eco-friendly. You can use double-paned windows, increased insulation, LED lighting, and energy-friendly appliances. A bigger upgrade is to add solar panels to the roof which is shown to increase the perceived property value.
5. Make Your Home Smarter
Finally, adding smart appliances and devices is another way to attract buyers. These up-and-coming smart devices make home life simpler, and more buyers than ever are looking for homes already equipped with the latest and greatest.
While this might sound expensive, most of these devices can be installed for under $1000 which is a relatively low price to pay. Tech-focused buyers will be excited to see these simple upgrades in your home.
Are you considering putting your home on the market soon? If so, consider making these upgrades above to increase your home’s value. You don’t have to splurge for a major overhaul to make a major difference in the value of your home.