Owning a home is a big responsibility. However, maintaining it properly while improving features inside and out is a fantastic way to increase its value. As NerdWallet reports, nearly two-thirds, or 65 percent, of homeowners in the U.S. believe the value of their homes will continue to rise over the next decade. While that’s generally true, there are many things you can do to increase the worth of your home even faster.
By taking any one of these actions, your home’s value is likely to increase quickly.
Create More Space
You might be asking yourself the question, “What is my home worth?” in its current state. If the answer isn’t what you hoped, one of the best places to increase the value quickly is to add to the square footage. Many homeowners choose to increase the value of their property by building on to what they already have or expanding rooms to make them larger, providing more room for storage or stretching out. The bigger the house’s floor plan, the more it will be worth in the long run. Even additional space for another car in the garage can make your home more valuable.
Upgrade to High-Demand Finishes
If your home has popular finishes, it can drastically increase the value of your home as it makes it appear well taken care of, up-to-date, and stylish. For example, marble or quartz countertops and stainless-steel appliances are practically standard these days. Likewise, choosing engineered hardwood floors over laminate or real hardwood almost always increases the value of a home. At the same time, oak millwork provides a nice contrast to a minimalistic white modern look while providing warmth, making it highly popular. By upgrading to add these high-demand features, pretty much guarantees a higher home value.
Purchase Energy-Efficient or Smart Appliances
As many home buyers are looking for more environmentally friendly homes, having up-to-date energy-efficient or Smart appliances is a big plus. Not only do they reduce the negative impact of using excess natural resources, but they can help reduce utility bills. Plus, newer, modern appliances mean less work for families as they can get the job done faster. For example, an energy-efficient stove will use less electricity or gas while cooking food in half the time compared to one that’s older and less efficient.
Smart devices of all types have become increasingly popular in the home, so the more you have, the more your home will be worth. For example, smart thermostats and those smart appliances like dishwashers and washers/dryers come with Wi-Fi connectivity, which means you can operate them from a mobile device while providing features meant to save on the use of water and electricity while providing savings on your utility bills.
Add More Cosmetic Features
If you want to do something to make your home’s value increase immediately, look at its aesthetic appeal, going through inside and out to determine what might be improved. Oftentimes, there are straightforward fixes that can improve the value, like a new coat of paint or simply rearranging rooms to make them feel more spacious. When house hunters are looking for a new place to live, they are often drawn to properties with the cleanest feel and most contemporary looks.
Upgrade the Kitchen and Bathroom
If you can afford it, making upgrades to your kitchen and bathrooms will make a significant difference as they’re typically considered the rooms that affect potential homebuyer’s opinions more than any other.