If you're a homeowner you probably hope that, as well as being a place to live, your home is also an investment that is going to increase in value. And while your home's value strongly depends on factors outside of your control, like its location or the current state of the real estate market in your area, that doesn't mean you can't do things to influence and impact your home’s worth.
Here's the good news, you don't need a full-scale overhaul to make a positive return on your property when it's time to sell, and it's often the modest and affordable improvements or renovations that have the greatest impact on the value of your home.
Let's run through some of the best things you can do to get the most bang out of your hard-earned bucks.
1. Make Your Home More Energy Efficient
Now more than ever, homebuyers are looking for eco-friendly and energy-efficient homes. For this reason, consider making your home more energy-efficient, not just to make it more appealing to potential buyers but also to save up on your monthly bills. Energy-saving upgrades don't have to be expensive. Here are some inexpensive ways to make your home more stylish, economical, and efficient.
- Replace your light bulbs with LED bulbs. LED bulbs use less energy and last longer than traditional bulbs.
- Make sure all of your windows and doors are properly insulated.
- Install a programmable thermostat that allows you to control your home's temperature remotely and save energy while you're away.
2. Installing Smart Home Technology
Smart home technology is a rapidly growing trend. "Tech-adjustments", as some appraisers call them, are a sure way to increase your home's market value, and aside from that, smart homes are easier to sell and command a higher asking price in the market. You may think that smart-tech homes are only appealing to millennials, but we can assure you that people of all demographics enjoy these powerful and convenient features. Here are a few examples of smart home technology you can install to bump up your home's value:
- Smart security locks, alarm systems, or cameras.
- Intelligent thermostats that can be controlled remotely.
- An energy management system that tracks and monitors electricity usage.
- Smart Garden irrigation systems that optimize watering schedules based on weather conditions.
- Smart refrigerators, washers, and dryers.
- Smart HVAC systems.
3. Update Your Kitchen & Bathroom
If you're looking to sell your home, kitchen and bathroom enhancements are some of the best home improvements you can do to boost your home's value. Rightly done, these upgrades can make your home more aesthetically pleasing as well as improving your home's space, usability, and functionality.
Some of the most popular and cost-effective updates you can make to these critical rooms include repainting tired or outdated cabinets to give them a fresh new look. Adding new quartz countertops or replacing flooring will also modernize your whole kitchen. For your bathroom, updating your vanity can make a big difference. A new sink and faucet can also add some elegance, and a new tile backsplash will significantly improve your bathroom's appearance. If you're limited by budget, you could refresh your bath tiles by re-spraying them instead of replacing them.
Although some kitchen and bathroom upgrades do carry hefty price tags, generally speaking these areas will make a big impact on the appearance of your home and give you a good return on your investment.
4. Manicure & Landscape Your Front Yard
Maximizing every inch of potential saleability should be at the top of every homeowner's mind. One way to do this is by landscaping the front of your home – be it your yard, front porch or driveway. This is the first thing that buyers will see when approaching your home, and often the first photo they will see online, so it is important to make a good first impression. Making sure your lawn is cut, your beds are mulched, and your front steps are swept clean are some basic considerations. Adding some flowers or plants in pots, a decorative wreath or other touches to your porch can really make your home stand out.
5. Repaint Your Home
If you're on the verge of putting your house on the market, adding a fresh coat of paint is one way to make your home appealing to potential buyers. Painting is not a difficult task to do - if you don't mind getting your hands dirty, you can breathe new life into your walls, window frames, and ceilings, all by yourself. If you are not sure if you are up to the task, or simply don’t have the time, the cost of repainting will be worth it to make your home feel fresh and look in top condition. Now is not the time to experiment with bold color choices though - choose neutral colors to help potential buyers picture themselves in the home.
If you are a homeowner and thinking about selling your home someday in the not-to-distant future, it's a good idea to start looking for ways to improve your home's value early. Your home is likely your biggest investment, so follow these tips to make sure you are maximizing its potential.
Do you need help maximizing your home's value in the Greater Boston area before putting it on the market? Our team of experienced realtors can offer solid advice on creating a lasting impression on potential buyers' minds through a fully functional and aesthetically pleasing home. Contact us today to find out what your home is worth!