Homes are often the biggest investment anyone will make in their lifetime, and it’s always important to remember that they are an investment. Idly letting them lose value without making any upgrades or improvements is a big mistake.
There are lots of little things almost anyone can do to ensure their home retains most of its value. Things such as mowing the lawn, trimming the hedges, and taking good care of the inside.
Then, there are the things that add value to your home. Some will obviously give you more bang for your buck than others. Bigger projects may be more work but usually pay off in the end.
Below are the 3 best ways to increase your home’s value.
Improve the Kitchen
Ever heard the term “content is king” in the digital marketing realm? Well, in home improvement, the kitchen is king.
New and updated kitchen appliances are some of the most important things in the minds of first-time home buyers, especially millennials.
For a few thousand dollars, you can upgrade your entire kitchen and easily increase the value of your home by double what you spent. Increase your savings on certain items by shopping online for contractor appliances.
Stainless steel is always a great choice for kitchens with a new-age, high-tech feel, even though it’s been around for quite some time now.
Look for Ways to Improve Floor Space
With the minimalist movement in the minds of many millennials these days, bigger isn’t necessarily better. But, that doesn’t mean they still don’t want as much livable space as possible.
There are some key strategic ways that you can improve upon your floor plans to increase the value of your home around 5%.
For starters, does your home have a basement? Finishing that is probably the most popular way to add home value. If that’s not an option for you, then consider doing something with the attic.
Some other creative ways you can improve your livable space is with sun rooms, covered decks, and even advertising a multi-purpose room in your home as a “flex room” – a big buzzword in the housing market today.
Work on Energy Efficiency
Last but not least, home energy efficiency is another hot topic for many home buyers these days. As such, focusing on improving your home’s energy costs will increase its value another few percentage points.
In fact, energy efficient was second among the list of top influencers in a home purchase decision, according to a 2015 survey conducted by the National Association of Home Buyers.
So, what can you do to drop those energy costs? The best place to start is often by replacing your water heater, which accounts for a large chunk of home energy costs.
Then, consider replacing typical lights with LED lights, and also don’t forget about replacing windows with high-efficiency ones. Windows are a major reason for heat loss inside a home during the winter months and cool air loss during the summer.
As possibly the biggest investment of your life, it’s incredibly important to find ways to increase your home’s value. You never know what might happen, and you may find yourself in a situation where you need to sell. Better safe than sorry!