Ten Ways to Improve Your Property Value
When it comes to home ownership, few things are more disappointing than discovering your renovation added practically no additional value to your home. Whether you are looking to sell or simply want to boost your home’s value, there are a number of ways to maximize your home improvement dollars. Before you sink all your cash into a swimming pool or invest in costly finishes, consider the top 10 ways to get the most out of your renovation budget.
Ways to improve your property values
Although cosmetic improvements look pretty, they make little difference in a home with outdated inner components. Functional upgrades, such as heating systems, plumbing, and sewage disposal, are crucial if you want to attract buyers. Additionally, older properties often require major upgrades to their electrical systems and overall stability. Imported marble tile will make little difference if your Victorian has outdated and dangerous wiring.
2. Exterior Improvements
Much like infrastructure, exterior items are not all that exciting. Things like siding, windows, and garage doors can add tremendous value, however. These upgrades can also modernize a home’s overall look, which can make a difference when you are trying to sell. Embrace Home Loans recommends viewing other homes in the area to determine the overall age and feel of the neighborhood. For example, you don’t want to recast your property as an English Tudor in an area dominated by contemporary ranches.
3. Adding a Bedroom
You don’t need an addition to add a bedroom. If you have unfinished space in your attic or basement, you can create another bedroom with relative ease.
4. Creating an Extra Bathroom
In past generations, families got by just fine with one central bathroom. In today’s homes, however, consumers demand an en suite bath for mom and dad with a smaller bathroom down the hall for the kids. Even a half-bath can add significant value to a home. If you simply can’t squeeze an additional bath into your existing space, put your renovation dollars to work in your existing bathrooms. Change out tired, outdated fixtures for more modern finishes. Replace old toilets and shower doors. Even fresh paint and updated flooring can make an old bathroom look brand new.
5. Upgrade Your Kitchen
Kitchens are truly the heart of the modern home. If you are planning on an entire kitchen remodel, work with a kitchen designer who can help you maximize your space. Homeowners on a tight budget can still boost their home’s value by investing in upgraded flooring, paint, and new light fixtures. More ambitious folks can try their hand at refinishing existing cabinets and swapping out old hardware.
6. Curb Appeal
Curb appeal is just as important as the stuff inside. Keep your lawn trimmed, neat, and green. If you can afford it, add some decorative items, such as privacy trees, shrubs, and flowers. Homeowners with black thumbs and green wallets can also hire a landscape architect to make the most out of their outdoor spaces.
7. Finish the Basement
If your basement is the final resting place for old toys, unused exercise equipment, and storage boxes, consider transforming it into livable space. Finishing your basement adds square footage to your home’s footprint and provides potential buyers with nearly unlimited opportunities for additional living space.
8. Extra Storage
The majority of modern consumers want a lot of storage. If your home lacks storage, invest in a professional closet system or organization solution. For a few thousand dollars, you can transform an ordinary closet into a storage sanctuary.
9. Square Footage
Although an addition is out of reach for many people, it is a home improvement that provides a large return on investment. If your home is very small, adding more square feet might be the only way to appeal to certain demographics of buyers. For example, a family of four might not look twice at your two-bedroom bungalow. By adding an additional bedroom and bath, you can expand your marketing efforts to reach an entirely new type of buyer.
10. Minor Touches
Sometimes, even small things make a big difference. Water purification systems, energy saving appliances, home theater equipment, and security systems add additional value to a home. These items are relatively minor touches within the remodeling context, but they appeal to a broad range of buyers and distinguish a home from its competitors.
Embrace Home Loans works with all types of future and existing home owners. Big or small, you can reach often reach your home improvement goals more quickly with a home equity line or credit or loan. If you need cash to finance your renovation vision, you might be able to take advantage of your existing equity to realize your dreams.