Figuring out effective ways to add value to your residential property is important, especially in 2023, as mortgage rates and home prices continue to increase following the global pandemic, Covid-19.
But for beginners, knowing how to make your home stand out to all potential buyers may feel overwhelming. Fortunately, the entire process doesn’t have to be difficult.
All you need to do is to avoid home improvements, which can’t add value, and concentrate on projects that can increase their value. Some of the important projects you can start with are:
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1. Going Green
Including potted plants in your home for decorative reasons is a common trick interior designers have used for many years to give properties a fresh-looking appearance.
Indoor plants as well come with other health and air-boosting benefits. They won’t just make you relax and feel better. They can also decrease stress and mental fatigue.
So whether you want to live in the house for many years to come or sell, going green can easily boost a home’s curb appeal, thereby increasing its value.
2. Add an Extension
A building extension may involve converting your garage/attic, converting the existing living room, or building a porch. Extensions may range from double-story and multi-room additions to several square feet in a living room.
Some extensions may require planning permissions, whereas others will need planning authorization as well as the help of a builder and architect.
If you are like most people who work part-time from your home, you consider extending your living room to build a home office.
3. Update Finishes in Your Home
A superficial change can greatly impact a potential buyer more than an intensive renovation. Most realtors know the difference paint can make, considering the low cost of this update.
Many experts argue that applying a fresh coat of paint to your home may increase its resale value by more than 6%. Other simple updates ranging from changing the front door to replacing the old fixtures, may as well give your property a bump in value.
4. Install Gas Appliances and Heaters
Gas appliances and heaters are among the most important features of a home for several reasons. For instance, gas heaters give all the comfort and warmth of wood heaters without damaging the environment.
Installing gas ovens and cooktops can also add value to your kitchen and are preferred because they have the capability to provide an even temperature and instant heat compared to electric appliances.
5. Modernize the Flooring
Most real estate experts advise spending cash on flooring. This exercise doesn’t have to be expensive. What really matters is for your flooring to look great.
You don’t have to replace the old flooring with a new one. You can take on minor projects which have a great impact. These projects may include removing wall-to-wall carpeting, patching damaged floor boards, and repairing all the broken tiles.
In a Nutshell!
There are numerous ways to increase the value of a home. If you are planning to sell your residential property for reasons known to you, talk to your realtor to help you choose the best home improvements that can improve the property’s value.