Increasing Property Value Through Home Improvements
Even those who want to stay in their home for years to come are still interested in adding value to their house. It’s not all about how much your property will realise though. Adding value to your home improves the collateral you have and can increase chances of refinancing it with great terms. A house is likely the biggest and best investment an average person makes in their life. Increasing your home’s value only strengthens that investment.
A home improvement project is one of the best ways to improve the value of your home. However, not every home improvement project works to increase the value of a home, so it is important to consider which projects are right for your home before undertaking them.
Below are projects that have withstood time for owners who would like to have a higher value for your there, regardless of their location.
Add On A Room
If you’re interested increasing your home’s value very quickly, there’s an easy answer: put in another bathroom or bedroom. You can put in another bedroom or bathroom. There could be two identical homes on the street where you live, but the 2 bed, 1 bath house will be worth a lot less than the 3 bed, 2 bath one. Obviously, larger homes, built for more people, are worth more.
One popular way of handling additions is to to build rooms directly onto the exterior of your home. However, you might not be able to add an extension, so you could convert a large room into two small rooms. Even if you can only add a wall, you will still be able to increase your home’s value.
Modernizing Your Kitchen And Bathrooms
For most potential buyers, the bathrooms and kitchen can make or break the deal. Most buyers want to move to a turn-key property with beautiful, gleaming kitchens with granite counters and gourmet appliances. These kitchen updates can be costly, but they’re more than worth it if you want to catch the eye of buyers.
Bathrooms, while not as important as the kitchen, still play a pivotal role in a home’s value. Modernizing your bathroom with claw-foot rubs, exquisite sinks and jetted tubs will notably help improve the value of your house. You may find that you get a lot of pleasure out of your upgraded bathroom. A brand new bathroom is sure to improve the quality of living in the home right now.
Plumbing and Heating Upgrades
Granted, you will not be able to show some of this changes to potential buyers or your friend. However, plumbing and heating updates are one of the smartest upgrades you make. It’ll increase your homes value, and spare you disasters such as leaks. Renovating plumbing and heating can particularly be very beneficial to old houses that might have worn out pipes. There are some areas where copper pipes aren’t up to code, and there are subsidies available for updating older plumbing systems.
There are other areas that you can work on such as replacing your windows, working on your roof, fixing your gutters or even touching up the landscaping around your exterior. Just about any type of home improvement will increase your property’s value, but the suggestions listed above provide the biggest bang for the buck. Whether an owner decides to make more rooms, update the kitchen or bathroom, or replace pipes and other parts, the home will be in better shape for years to come.
The sooner you get started, the sooner you can start enjoying the upgrades to your home.