According to recent statistics, over 50% of homeowners believe that their investment will result in an increase in value over the next decade. But- what if it doesn’t? Some experts believe that it’s overly optimistic to believe that your home will increase in value without putting in the work.
Sometimes the value of your home depends n a considerable amount of factors, many of which may be out of your control.
Buying a home is the biggest investment that most people make in their lifetime. Therefore, treating it like your most important asset should be your priority.
The good news is that increasing your home’s value is entirely possible if you are willing to put in the work. Here are some of the most effective ways to increase how much your home is worth.
Upgrade Your Yard
Although your yard may not be a part of your house, in theory, it plays a significant role in curb appeal. It should be properly landscaped, trees should be trimmed, the driveway shouldn’t have any cracks, and your fence should be made of attractive materials.
A good way of gauging whether your yard is up to par is how it compares to your surrounding neighbors. Does your eye gravitate towards your home or theirs?
Make It Energy Efficient
Green is the new black when it comes to real estate. Making your home as energy efficient as possible appeals to buyers who are looking for a good value. Poor insulation in extremely hot or cold places will appeal less to prospective buyers.
Consider taking measures like doubling up the panes on your windows, or installing solar panels. If you’re not sure what other energy-efficient upgrades you can make, consider calling an energy auditor who can give you an idea of where your home may be wasting energy the most.
Upgrade Your Kitchen
Most real estate pros will tell you that the kitchen is one of the most important aspects of a home. People want to walk in and see an updated kitchen with convenient features like new countertops and modern fixtures.
For a few thousand dollars, you can boost the value of your home significantly by updating your kitchen to a more modern version of itself.
Increasing the amount of living space in a home is a big plus. Adding additional space to your home like a mother in law apartments or laundry rooms can bump up your home’s value as much as 6%.
A lot of buyers in today’s market work from home, telecommuting. Therefore, an extra space to work in is ideal. Also, since the popularity of home-sharing services like Airbnb, many people are looking for extra space to make a side income.