If you’re a homeowner or potential homebuyer, you may be wondering how to add value to your home. Most of us know the advice of giving your home a fresh coat of paint, repairing and maintaining large features such as HVAC systems or roofs. But what other ways can you add to a home’s resale value?
Here are a few ways to increase property value, even if you and your household plan to stay there for a while.
Update electrical systems
Many future buyers are interested in a home that is energy efficient, even outside energy-efficient appliances. Newer homes require substantially more electricity to be ported through their electrical systems because of new technologies.
And while this isn’t something you should take on yourself, unless you’re a licensed electrician, it is something you may want done.
On average, this project could run anywhere between $800 and $3,500. Before beginning this project, be sure to have your electrical system tested by a professional before taking on the endeavor.
Add more space and usable square footage
Many larger homes are sold fairly quickly. Potential homebuyers may be searching for a home they can expand their household in. They may want to add extra room for entertaining. They may even have a household full of pets or extensive foliage. Regardless, having extra square footage is a great way to bring up your home’s value.
If you already have a home full of unused space, try relocating whatever you have in that area by repurposing the items, selling them, donating them or finding a simple off-site storage solution. Once you’ve relocated the items, determine if you’ll need a contractor to help turn the unused space into something more, like a master bedroom or media room.
For those who may not have the extra space, exploring the idea of creating an addition could open you up to more possibilities when it comes to selling your home or passing it through future generations.
Install smart home technology
Smart home technology can be embedded into typical home technologies, such as your thermostat or alarm system. While those items are fantastic starting points, this technology may be able to go even further.
Appliances such as refrigerators, ovens and dishwashers can increase your home’s sustainability. While this isn’t a true integration, many homebuyers may be more likely to put an offer on the home when they experience the sustainable efforts you’ve put into your daily appliances, especially if they come with the home.
Curb appeal is still crucial
Is your garage door well over its threshold? Do you need to upgrade your outdoor space to include a few more accessibility features? Perhaps you simply want to add a few solar panels to increase your home’s energy efficiency. Regardless, you need to keep your home’s curb appeal at the forefront of your home improvement to-do list.
For example, opt for garage doors with durability and heft with low-energy motors. If accessibility is more your speed, try adding a few more walkway lamps and a small concrete ramp to your home’s main entrance.
When placing solar panels, keep the style and load weight in mind when putting them on your roof or along the siding of your home.
No matter what project you start with, consult your real estate agent if you’re in the market to sell or interested in ways to increase the value of your home.
About the Author
Sheida Rezazadeh
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I find it very satisfying to be able to help my clients achieve their dreams through Real Estate. I have over 20 years experience in the Real Estate Industry. I began my career with my own investment in and management of multiple properties. I use my insight into the Real Estate industry and my vast negotiation skills to provide my clients with exceptional service. I am able to use first hand knowledge, acquired by my years of experience, to guide my clients through the process of buying or selling their properties. Whether it be Residential, Luxury, Multi-Unit, or Commercial Real Estate, I possess the Real Estate acumen to secure top dollar for my sellers and the best properties at the best possible price for my buyers! As a mother and wife I know the importance of creating the sanctuary of a home, as well as, the security that investing in Real Estate can bring to you and your family. I understand that buying or selling a home is more than just a transaction: it’s a life-changing experience. That’s why our team of highly-seasoned real estate professionals is dedicated to providing exceptional, personalized service for all of our clients. We take great pride in the relationships we build and always work relentlessly on the client’s behalf to help them achieve their real estate goals. Our team of experts represents the best and brightest in the industry, and we’re always striving to lead the field in research, innovation, and consumer education. Today’s buyers and sellers need a trusted resource that can guide them through the complex world of real estate. With our extensive knowledge and commitment to providing only the best and most timely information to our clients, we are your go-to source for real estate industry insight and advice.