In the United States, approximately 5.64 million existing homes were sold in 2020. This large number suggests that many homeowners placed their properties on the real estate market, hoping to profit.
The best way to improve your profit chances is to increase your home’s value.
Understanding what affects home value will give you the necessary guidelines to enhance your home overall.
Continue reading for helpful tips on increasing home value in today’s real estate market.
Solar Energy
One of the most expensive utility bills for most homeowners is the electricity bill. In fact, these bills can be more expensive depending on your location. Electricity bills are why so many homeowners try to conserve energy year-round.
However, a great solution to this problem is to upgrade your home to solar energy. Doing so will make your home more energy efficient and appeal to buyers. Solar panels also increase your home value and allow you to advertise a higher price.
Once you decide to convert to solar energy, you’ll need to find the top solar company in your area. They will provide a consultation to determine your home needs and cost estimate.
Upgrades
Upgrades are another essential factor when trying to increase your home cost. Start by walking through your home and listing what could be upgraded.
Usually, appliances should be number one on your list. Most buyers want a home with newer appliances so they don’t have to outfit the house themselves. These appliances could include a refrigerator, stove, washer, etc.
Most people are interested in upgrades in common places in the home, like the bathrooms and kitchen. Upgrading these areas can make the home feel newer and more valuable overall.
Repairs
Fixing uneven driveways can have a positive impact on the home value for several reasons. First and foremost, an uneven driveway not only affects the visual appeal of a property but also creates potential safety hazards. A driveway with potholes, cracks, or uneven surfaces can make it difficult for vehicles to maneuver, increasing the risk of accidents or damage to vehicles. By addressing these issues and creating a smooth and even driveway, homeowners improve the overall curb appeal of their property, making it more attractive to potential buyers.
As you’ve lived in your home throughout the years, there has most likely been some property damage. Most people put off these repairs due to a lack of time or money.
You must ensure each damaged object is repaired before listing your home. Start by creating a realistic budget for repairs throughout your home. You should then start fixing the most severe issues first.
Then you can work down to the more minor issues if you still have room in your budget. Remember, most new homeowners don’t want to deal with any repairs as soon as they move in.
Landscaping
Your home’s curb appeal is a huge asset when considering value. People’s first impression comes from the overall curb appeal. Poor curb appeal can cause buyers to become instantly disinterested as they assume the rest of the property is poorly kept.
Proper landscaping should be a priority to upkeep your home’s value. Start by ensuring you water your plants and grass to keep them a vibrant shade of green. Once they grow, you’ll need to mow and trim as necessary so nothing looks overgrown.
You must also keep your landscape clean and free of any messes. Always clean up after pets, kids, and debris.
Paint
Over the years, interior and exterior paint can become faded, worn, or stained from everyday wear and tear. This wear and tear can cause your home to look old and unkempt, making your home’s value and appeal decrease.
Start by painting any areas of your home that appear unappealing. You can then move on to places you may want to spruce up. Some areas may only need a touch-up and can be fixed quickly.
Remember, most neutral colors are great for reselling and giving your home a facelift. These colors include white, tan, brown, etc.
Deep Clean
Cleaning your home is another excellent way to increase its value. A dirty property will instantly create a negative opinion from buyers. A neglected home can also cause more severe problems if left untreated.
Start by decluttering each room in your home, meaning you should eliminate any unnecessary junk lying around. Doing so will make your home feel bigger and allow you to create more space. Don’t forget to declutter the outside of your home as well.
A deep clean can enhance the air quality and overall feel of your home. You can deep clean yourself or hire a professional company to handle the process. Professionals are well trained in cleaning and often clean every nook and cranny throughout the home.
Updates
Updates are similar to upgrades; however, they usually require more work overall. Updating your home can be costly, but the investment is worth it for your home’s value.
Some updates can cost thousands of dollars, depending on your choice of materials and style. Popular updates homeowners undergo include:
- Flooring
- Windows
- HVAC
- Roofing
- Siding/Brick
- Lighting
These projects are more extensive overall and may take a while to complete. You’ll need to hire contractors for these updates to ensure each is done correctly. However, if you have been adequately trained, you can take on some of these updates to save money.
Small Details
Small details may not seem essential to your home value, but they can change your home’s entire look and feel. These details can help enhance your home and are usually a quick project to complete. Some minor upgrades include:
- Door knobs
- Window blinds
- Cabinet hardware
- Faucets
- Vegetation
Each of these details will contribute to the finishing look of your home. They make your home look well put together, and buyers will appreciate each feature.
A Checklist for Increasing Home Value
Each of these tips will help with increasing home value in today’s market. Remember to make your home more energy efficient and make any necessary repairs.
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