If you are a homeowner, you have made an investment in a property that has a value influenced by several factors, including:
Although there are certain factors we cannot influence, such as age and location, there are other factors that you can help to increase the value of your property, such as size, features, and the overall quality of the home.
Why may someone want to increase the value of their house? Perhaps you are considering selling your home sometime in the future. Or, maybe you want to rent it out, whether it be a portion of the home or the entire house.
Regardless of your situation, there’s several easy ways you can upgrade your home to increase its value. It can be as simple as a fresh paint job to as major as adding an additional annex to the home. In today’s blog, we’re counting down 4 ways you can increase the value of your home. By the end of this blog, you’ll have the tips and tools you need to get started on your home renovation and double your investment!
The easiest and most cost-efficient way to increase property value is to work on its aesthetics, or curb appeal. Curb appeal refers to the exterior attractiveness of the home. There are several ways you can do this, including:
- Fresh coat of paint
- Pressure cleaning
Simple factors such as these will go a long way. “Pressure washing your home is essential for a beautiful looking property. Over time, weather and other elements will affect the appearance and surface of your home, such as driveways and patios,” says Geek Window, which offers pressure washing in Houston. “In addition, mold and algae can permanently stain and degrade the paint on your property.”
Your driveway will come out good as new once pressure cleaned, so be sure to invest!
When it comes to landscaping, a touch of color and plants that will endure strong weather conditions will be a good investment. Be sure to plant landscaping that is durable and will grow to be sturdy and beautiful for the next owner or tenant.
Finally, a fresh coat of paint will bring life to your home and make it look new. It can go a long way to making an old home seem less aged. Choose a color that will age well — avoid shades of white that will be subject to weather conditions and erode more quickly over time. In addition, be sure to include a second or even third layer so that the paint’s freshness lasts longer on the exterior of the home.
Nobody wants to purchase or rent a house with appliances that are over 20 years old. Not only do they decrease the overall attractiveness of the home’s interior, but they also present a risk to the home’s value. These appliances, such as the washer or dryer, stove, refrigerator, etc., may not be functioning as well as it used to and may eventually break down to the point that they will need to be replaced.
In order to avoid such a headache, installing new appliances will increase the value of your home as you can add the cost of these new products on top of the price tag. When someone buys your home, they are not only purchasing the home itself, but also the new appliances within it.
These days, with more and more companies and governments making regulations against climate change, a home that is energy efficient is definitely more attractive than one that is not energy efficient, thus increasing its value. This is especially true in locations that have extreme heat or cold. Some ways you can increase the energy efficiency of your home include:
- Solar panels on the roof
- Smart LED bulbs throughout the house
- Smart appliances
- Double-paned windows to reduce sunlight exposure indoors
One way you can increase the size of your home is by adding an annex to the back of your home. This increases the square footage, which automatically increases the price per square foot, and thus the home value. You can also add an extra bathroom, or build a basement if on a hill.