How To Increase The Value Of Your Home
Whether you are putting your home on the market, want to get it appraised so you can refinance or want to boost its value for use as collateral for a business loan you don’t have to go the whole hog with the investments. There are a number of quick, simple steps you can take that won’t cost very much but will add significant bottom-line value to your property. Below we discuss the best ways to quickly increase your home’s value.
Simple Interior Upgrades
There are a number of things you can do to the interior of your home that will give its value a bump including:
Paint It – There is nothing like a fresh coat of paint to transform a drab and dreary room into a bright, lively, even sophisticated one. But don’t just pick up a couple of gallons of whatever is on sale. Take photos of your interior and bring them to the paint store. Show them to the guys and gals working there and get their expert input.
Redo The Wallpaper – If you have wallpaper in any of your rooms and it’s starting to show its age you can ramp up the look and feel of the room by redoing the wallpaper. In addition, you may want to add wallpaper to rooms that are currently painted. But again, this can’t be done in a willy-nilly whatever-is-on-sale kind of way. Discuss your ideas with someone who knows what they’re talking about. Any money you spend on the consultation will more than pay off.
Install Dimmer Switches – Dimmer switches are a great way to turn a static interior into a dynamic one. In a related move you can replace all your old incandescent fixtures with energy efficient LED and CFL fixtures and add some LED lights at various points around the interior to create atmosphere and focal points.
New Appliances – If your appliances remember the moon landings it’s time to replace them. New appliances will not only make your kitchen shiny and chrome they’ll also make it much more energy efficient. And improved energy efficiency is one sure way to improve your home’s bottom line value.
Remodeling will give your home value a more significant bump but it can also cost a pretty penny. Therefore:
Renovate The Kitchen – If you want to upgrade your interior but are working with a limited budget pour most or all of it into a kitchen renovation. This is especially true if you plan to sell your house. Real estate professionals will attest that the vast majority of would-be homebuyers make a beeline for the kitchen once they enter the house. If they like what they see there, they’ll take their time strolling around the rest of the house. If they don’t like what they see in the kitchen you’ve lost them. Renovate the kitchen.
Remove A Wall – Some folks think that in order to make the interior of their home seem more spacious they have to create an addition. Not so. An easier, more cost-effective way to open up the interior space is to remove light-blocking walls. Older homes in particular often have walls that seem to serve no useful purpose. They’re there because the attitude at the time was that more rooms was better. Removing a wall or two can make a huge difference and give an older home a new, more contemporary feel.
Simple Exterior Upgrades
The curb appeal of your home is a major influence on its overall value. You could have the most dazzling kitchen ever designed by a human but if the outside of your home is rundown it won’t matter. Improve the exterior in these simple but effective ways:
Install New Windows – This might seem like an extravagant expense but it’s not really. And the ROI and bump in curb appeal and valuation you’ll enjoy will more than justify it. Double pane vinyl windows will not only improve the way your home looks but make it far more energy efficient.
Paint The Exterior – Painting the house can have a dramatic effect on its curb appeal and bottom line valuation. In the event you plan on selling your house this is one affordable upgrade that is bound to pay significant dividends. Regardless of whether or not you engage in any of the other exterior upgrades on this list.
Replace The Front Door – Do you know what home improvement project produces the greatest ROI? It’s not a kitchen or bathroom remodel. It’s front door replacement. If your current front door has seen better days replacing it with a state-of-the-art steel door will make your home instantly more attractive, more energy efficient and more secure. If “steel” sounds like a scary word don’t worry. Today’s steel doors can mimic whatever material you like.
Install A New Garage Door – The garage door is the single largest component of your home’s exterior. If it’s in rough shape it drags down the look of the rest of the house. A new garage door is far more affordable than you might think and will make your home more energy efficient, boost its curb appeal, improve its safety profile and provide a boost to the bottom line value.
Work On The Landscaping – There are a number of ways you can improve your home’s curb appeal. One is to improve its surroundings. If your driveway and pathways are cracked and drab consider installing interlocking pavers. This will give the entire home an aesthetic boost and doesn’t cost as much as you think. Upgrading the lawn is another way to improve your home’s curb appeal. Alternatively, consider planting flower beds, or opt for the long term value proposition by planting a tree or two. Homebuyers love trees.
Increasing the value of your home doesn’t have to send you to the poor house or take a year. With just a few simple improvements you can be well on your way to a more beautiful, valuable home.