10 Proven Ways to Increase the Value of your Home

Your abode is your sanctuary in multiple ways. It offers you physical as well as financial security. But, selling a house is just as difficult as buying one. To get a good return, the smart move is to increase the value of your home throughout the years you live in it.

As per the National Association of Realtors, over 5.64 million existing homes were sold to new homeowners in 2020 alone. And as per data shared by Home Guides, the average national appreciation rate of houses is around 3.8 percent annually.

To ensure that your house appreciates well in value and is always a good catch in the market, you need to increase its worth.

Cost-effective ways to increase the value of your home

First, let's begin with affordable tactics that will help in boosting the price of your house. It turns out a well-maintained and visually pleasing house is sought after within the world of real estate. And the best part is that the measures are not that difficult to adopt!

1. Enhance the curb appeal

The first thirty seconds are crucial for creating an impression on people. From the get-go, you need to ensure that your house looks put together. And for this, you must focus on the state of your yard and entrance.

Apart from regularly cleaning it, here is what you can do to increase the value of your home.

• Trim overgrown plantings and shrubs.

• Power wash your decks, sidewalks, and walkways to remove dirt and mildew.

• Paint the front door from time to time.

• To add color, plant flowers in pots in case you don't have a garden.

The idea is to impress people the moment they set their foot on the property.

2. Paint it all!

Another proven way that works in making your home look brand new is painting all your walls! Compared to a complete renovation, this method is easy and affordable. If you are apt for the job, you can even do it yourself. All you require is a few rollers, paint, tapes, and brushes!

When painting the walls of your home, try to focus on any undesirable colors and wallpaper.

For starters, faded paint or unpopular shades like violet and dark brown must be replaced with gray, beige, and light blue. But, only do so if you wish to move soon. If not, paint it with a color that describes you!

Also, see if you can paint your cabinets and drawers as well. A fresh coat of paint makes everything look clean and new — exactly the vibe you want to go for to boost your house's value.

3. Light it up!

A living space can look much more inviting if it has the right amount of lighting. Not only does it allow your house to be easier to see, but it can also help make your rooms look spacious. Moreover, it also aids in accentuating the key features of the room.

Use modern and energy-efficient light fixtures in your home to appeal to the rising interest in sustainability. Also, attractive additional fixtures like chandeliers and lamps can further help accessorize a given space.

4. Declutter as much as possible

Did you know, as per the HomeLight report of 2019, merely decluttering and deep cleaning a house can add over 4,000 USD in resale value? Not only do buyers appreciate a pristine and clean house, but the act of decluttering can also make a living in a house less stressful.

Yes, the task is quite inexpensive. But, it is also very hectic. To streamline your decluttering process, start by going through all your cabinets, closets, and wardrobe. Create three piles; keep, throw and donate.

Clean out all drawers and storage areas as well. Don't hoard any furniture that does not serve a functional or aesthetic purpose. This will allow your house to look more spacious and well-organized.

5. Increase finished squared space

Does your home have an unfinished basement or areas? It is time to build out this space. It turns out that the more livable space a house has, the more its value increases.

Let's say you have an unused basement space. You can build a bedroom in it, and voilà, your house's footprint will have 100 square feet more in it.

Since houses are valued via multiplying square footage with an average rate of the given type of houses, your overall selling price will increase via this simple tactic.

Home upgrades to opt for

If you are willing to invest a little to and increase the value of your home and increase functionality, there are certain home renovation tactics you might want to implement.

1. Minor kitchen renovations

Apart from your bedroom, what is the one room your family spends the most time in? The chances are that it is your kitchen. After all, many memories are made when your family gathers in the kitchen for a quick breakfast or a dinner cooking session. It is important to have minor kitchen renovations in order to retain its beauty and functionality.

Focus on the state of your cabinets. Now and then, they will require refinishing and refacing. Sometimes merely installing new hardware, including knobs and handles, will be enough to enhance the room's look.

Additionally, when the style of your kitchen becomes too old-fashioned, think about remodeling it to fit well with current house trends. For starters, contemporary and minimalistic kitchens are all the rage right now. However, note that such projects are quite expensive.

2. Smart lock system

Another major upgrade that will drive the value of your house up is a smart lock system. The demand for the security system has been on a steady rise.

Apart from installing the right gadgets, including smart locks and cameras, try to find a service that can do a home security audit for you. This will allow you to assess what kinds of security features you will require. This will help you in making cost-effective additions.

3. Replace all exterior doors

Apart from maintaining your front yard well, another great way to enhance your house's curb appeal is to replace all front doors. If you have been living in the same house for decades, the chances are that your home still has the late 90s' favorite — a solid mahogany door. Well, now is your time to change it!

Also, consider replacing your old garage door if it is too rusty and visually unpleasing. See if your budget allows you to install a modern glass panel garage door. 

4. Be energy efficient!

We previously talked about updating light fixtures to brighten up your house. While this measure will help make the right impression on visitors, in the long run, a better tactic to improve the value of your house is to add energy conservation features to it.

This includes installing double-pained windows, LED lighting, padded attic insulation, and choosing efficient appliances. If you can go bigger, consider placing solar panels on your roof. A survey conducted by the National Association of Realtors revealed that solar panels tend to increase property value.

However, solar panels are expensive and are also a structural commitment. So, only opt for it if you are looking to increase the value of your house in the long run. Don't do it for a mere quick resale value boost.

Again, a certified energy auditor will best tell you what measures you should take to conserve energy.

5. Remodel your bathroom

Does your bathroom look dated because of old fixtures? It is about time you replace them and remodel your bathroom to transform the space.

Apart from upgrading plumbing fixtures, including showerheads and fixtures, here are some other remodeling efforts you may make:

• Vanity upgrades: Replace your basin and cabinetry with a new vanity. Choose materials like marble and granite for the countertop to appeal to buyers.

• Paint: If the bathroom walls have started exhibiting signs of water damage and mildew, it is time to fix the issue and then paint over it all.

• Flooring: Replace old stained flooring with new ones. Gray flooring has become quite a popular choice for bathrooms in the past few decades.

As per Moving, midrange renovations of the bathroom recover 67.2 percent of the cost while upscale changes recoup 60.2 percent of cost via an increase in house sale value. So, you don't have to worry about losing your money's worth!

Takeaway

When you live in your abode, you might not be able to imagine the day you will sell your precious house. Yet, one day, it is bound to happen someday!

This is why every decision you make must keep in mind this possibility.

Take steps to increase the value of your home so that you can reap the benefits of it later on.