A house is an asset subject to changes in the real estate market. The offer and demand mark the trends where the market should go. Home prices respond to several factors, like federal interest rates, natural disasters, and unexpected international situations like the pandemic.
However, homeowners can contribute to the increase in the value of their houses. There are many tips a homeowner can apply to maintain and increase his home value.
Minor repairs, renovations, gardening, and cleaning are some of them.
Let’s go over 9 tips to increase your home value.
If you’re looking to increase the value of your home, a kitchen renovation is a great place to start. A well-designed kitchen is more attractive to potential buyers and can significantly increase the resale value of your home. When planning a kitchen renovation, focus on creating functional and stylish spaces. Make emphasis on appliances and be extra careful with finishes.
A renovated kitchen would increase the house’s value. If you invest eight to ten thousand dollars in your kitchen, it will add about 20 to 25 thousand dollars to your house value.
By planning carefully, you can create a beautiful new kitchen that will increase the value of your home and provide years of enjoyment for your family.
If you have a pretty slim budget and don’t have the money to replace floors, baseboards, renovate the bathrooms, etc., at least make the kitchen pop because that is the way your property will receive a plus-up valuation.
The second place people spend a lot of time is in the restroom. Restrooms are intimate spaces that should be attractive and comfortable. If the kitchen is the area of the house where people love to share time and conversations, the restroom is the place that should transmit peace.
Not to mention that a clean and spacious restroom talks about the generosity and quality of the house inhabitants.
Also, use light colors in Your restrooms to make the space look bigger. Lovely white tiles around the bathtub give the amplitude sensation in the shower area. You don’t need to spend tons of money renovating your restrooms, but if you want to sell your house or rent it, you may wish the buyer or tenant would appreciate the job done on the property.
When it comes time to sell your home, first impressions matter, buyers will often base their initial offer on the condition of your bathrooms. If they are outdated or in poor condition, it will likely dissuade buyers from making a high offer. On the contrary, if your bathrooms are renovated and well-maintained, it will make your home more attractive to potential buyers or tenants.
Moreover, renovated bathrooms increase the value of your home by up to 20%. Therefore, remodeling your bathrooms is an intelligent investment before putting the house on the market.
We have to mention that many people love to have different flooring styles in their houses. Some people love to have a tile floor in the Kitchen, carpet in the bedrooms, vinyl floor in the walking areas, and different kinds of flooring in the living room or family room.
If you are considering a seamless floor throughout the house. It makes it harmonic and creates a flow sensation. The tendency is to use a light-colored floor. Crushed vinyl resin commercial grade floors come in a good selection of colors and look natural. A house with gorgeous floors increases the home value between 5 to 8%.
Whether you want to keep living in your property, rent it, or sell it, a lovely floor will give comfort and beauty, increasing your home’s value.
Installing good-quality materials instead of the cheap creepy laminated floors will cost the same. Your contractor charges the same amount to install good or cheap floors. How much do they charge per hour, $30 or $40? Whatever they charge, labor is going to be the same, so the question is, why don’t you spend a little more and obtain better results?
4. Feature Walls
A feature wall is a wall in a room of a different color or design than the others. Feature walls are painted with neutral colors and have notorious designs that deviate the viewer’s attention. It is usual to decorate one wall in the living room, dining room, or common areas. It is recommended to use tone colors on feature walls to combine them with other light-colored walls and floors.
Feature walls stand out and make the space more welcoming. They influence the area, and you can play with adding furniture, various or one decoration to accent your home.
A feature wall is usually a focal point in any room. It is used to add beauty and harmony. One of the main reasons for using feature walls is to increase the property’s price.
You can do it yourself or hire a designer; when done correctly, they add value by the aesthetic appeal that impresses anyone. On the contrary, when a feature wall is done poorly, it can decrease the value of your property.
Therefore, to make sure you will get the benefits of a good feature wall, hire a professional together, and you can choose the right color and the proper design that perfectly fits your home environment. That is no doubt your feature wall will add beauty and value to your home.
5. Curb Appeal
The exterior of your house is the first impression your visitors, potential buyers, or renters have of it. Pay attention to your curb appeal, we’re not saying you should spend significant amounts of money on your front yard, but with a few hundred, you can hire a gardener who would do an outstanding job of mowing the lawn and replanting seasonal plants.
Collect the garbage from around the property, if any, and pull the weeds that are six feet tall. If you rent the property, you don’t need to spend much but at least make up the front line for your new tenants. On the other hand, if you intend to sell the house, put more money into the effort to make it look nice. Always there is the chance to recover the investments.
When people list a property, it is better that its pictures look good. The first impression is crucial to convince new tenants or buyers when they walk into your house.
Among house renovations, Painting is the one that most impresses tenants or potential buyers. Also, painting a house is a job that can fit almost any budget. If, for instance, money is tight, by far the best thing you can do with your money is to spend it on an excellent clean paint job. On a limited budget, nothing better than investing in paint.
You want to refresh living rooms, dining rooms, and bedrooms; these must be in the light and neutral colors. If the interior of your house has bold colors like red, yellow, green, purple, or any intense color, think seriously about changing them. Your best bet is to get a fresh coat of neutral paint like a white, light grey, or eggshell. The last thing you want is for people to remember the color of the paint in your house.
If you have a homeowners association, check with them to ensure you use the correct color code to paint outside. If you decide to change the facade color of your house, present a request to your homeowners’ association, they may have the colors approved by the association and the city. If your home is located without a homeowner association, consult with an expert for the best paint you might use. Some colors do not cause a good impression among potential buyers or tenants.
Painting can be a less expensive way to increase your home value.
7. Improve Lighting Where Possible
Use the lamps and light bulbs you have at home. You don’t need to go out and buy a lavish chandelier. Don’t spend money on a fixture that you don’t need and that doesn’t fit the space due to style or size.
With the lighting, the paint is going to reflect, filling spaces. Your living room, bedrooms, and any illuminated area will look clear and more prominent. If you need extra light, go to your local hardware store. Lowes or HomeDepot carries nice-looking tracks.
Old out-of-date light fixtures decrease the value of your house. On the contrary, new lighting fixtures make your home look bigger.
Regarding lighting, the following point on this list is Wall switches.
8. Wall Switches, Door Handles, Faucets, and Door Knobs
They are accessories that cost little and end up enhancing your home. You may think that investing a few dollars won’t affect the price of your home. The good news is that they would. When you replace old or damaged hardware, your sink, doors, cabinets, and walls improve dramatically.
When tenants and potential buyers walk into your home, they observe everything. A broken wall switch, a dripping faucet, or an absent door knob in a kitchen cabinet sends a negative message.
Don’t get caught out in small things; dirty or yellow light switches and ugly outlets have the power to take away hundreds of dollars from your home value.
These are minor repairs that you usually can do. If you plan to sell your house and increase its value, do it quickly. Time is money when you are selling.
9. Declutter And Deep Cleaning
Cleaning up and decluttering your home before putting it on the market can make a big impression on potential buyers. It can be helpful to get rid of any extra stuff that you don’t need and to make sure that your home is as clean as possible; this will help to give potential buyers the impression that your home is well-cared for and that they won’t have to do a lot of work to make it their own. In addition, decluttering can make your home look more spacious and inviting, which may increase its value in the eyes of potential buyers.
If you have a lot of furniture in your house, be prepared to eliminate many of them. The rule of thumb in the real estate industry is “get rid of the 50% of your furniture and things.” Ensure that the access to the front door is free of furniture, shoe rack, or anything that may cover the view o can cause an accident.
The Bedrooms, bathrooms, laundry room, and garage should not have extra stuff that may prevent your potential buyer from calculating the size and functionality of your house.
When Homebuyers are visiting your home, they imagine themselves living in your home. Thus, rent temporary storage and store the extra stuff that would make your house look like the ultimate souvenir storage.
Distribute your home decorations evenly, and put some books in your living and family room but not overload at least you have a well-organized library.
Deep cleaning is crucial to cause a good impression on potential buyers; dig deep in the kitchen, Check lower cabinets for signs of insects, crumbs, or debris. Put extra shine in bathrooms, polish fixtures, clean out behind toilets and under sinks, do an extra effort cleaning your bathtub and wash shower curtains.
Clean carpets or hire a professional carpet cleaner, clean from ceilings to floors, doors, and windows. Don’t forget the fireplace. If you plan to sell your home in cool months, ensure your fireplace is on. Some pieces of wood burning there produce a welcoming feeling for everyone.
A clean, well-organized house is more likely to receive a substantial offer than a cluttered one.
What If Your Budget Is Tight?
There is no doubt that a well-maintained house can compete in the real estate market. fIt is crucial to do renovations, major and minor repairs, and pay attention to small details; these simple activities will increase your property’s commercial value.
What to do if the budget is tight?
If money is an issue, Do it yourself (DIY) is a good option. Small projects, including painting, do not require outstanding skills. The most important is having the house in the best possible shape to get the maximum if you decide to sell it.
Statists show that houses in good condition can sell faster and for about 25% more than the same house in poor condition.
Real estate agents and buyers appreciate a house that pops from the others on the market. Well-maintained homes receive about 65% more offers than those in bad condition.
Homeowners that can not spend significant amounts to renovate their homes opt to sell them. However, the real estate market doesn’t have enough room for bad-shape properties. Most of the time, the market is hostile to no good-looking properties.
Houses that have issues are known as “Ugly Homes.” Homebuyers won’t deal with them. However, nothing is lost with ugly houses. They have a great market in the real estate investments world.
Ugly homes owners can sell their properties As-Is. They only need to contact an investor, discuss their situation, set an appointment, and be ready to receive cash for their house in a short time. Typically, investors close in about seven days.
Sellers don’t need to do renovations, repairs, painting, cleaning, or work on their front yard.
If you don’t have the means to improve your house and have considered selling it, contact a professional home buyer, they have purchase processes that might work well for you.