Whether you are planning to sell your home soon or are merely trying to keep a long-range view in mind, making changes to the property with its potential value in mind is usually a wise move. There are specific things you can do to your home that will boost its potential and perceived value in potential buyers’ minds. These five changes will have a positive impact on your home’s value, making them worthwhile investments.
1. Focus on Curb Appeal
Too often, homeowners focus on interior changes when trying to boost their home value, and as a result, they neglect the power of curb appeal. The way your home looks from the street has a significant impact on whether or not people will stop and take a closer look. The exterior needs to make people want to walk through the front door, so spend some time on your landscaping, exterior paint, and overall appearance of your home from the street.
2. Remodel Smart
If you’re going to update inside the home, choose wisely. Minor kitchen remodels can bring an 81% return on investment (ROI). However, major upgrades to the kitchen bring just 53%. Choose rooms with a high ROI, then focus on changing only the features that bring the maximum impact.
3. Improve Efficiency
Adding features to your home that make it more energy-efficient, such as double-pained windows or LED lighting, will boost its value. Potential buyers know that an energy-efficient home costs them far less over time. Energy-saving upgrades can be costly, like adding solar panels to the roof, or affordable, like upgrading to a smart thermostat, but each one will increase the home’s value in the eyes of eco-conscious buyers.
4. Add Other Smart Tech
Some smart tech is focused on environmental friendliness, but other tech is just fun. The more smart technology you can build into your home, the more appealing it will be. You can choose everything from lighting to your fire alarms and upgrade it to something “smart.” These devices are a great way to boost your home’s value because they are relatively affordable, and they are usually something you can do on your own.
5. Add Some Space
Do you have an unfinished basement you could turn into a living room? Could you add a three-season room? While finishing that basement or building an addition is a larger investment, it’s one that has a significant return on investment with potential buyers. These additions often increase the home’s perceived value to potential buyers because everyone wants a bit more living space. If you don’t have room to add actual square footage to the home, consider adding a patio or deck to provide some outdoor living space.
When considering home improvements to tackle, considering home value is helpful. By focusing on these five areas, you can make your home more enjoyable to live in while also improving its value when the time comes to sell.