Best Ways to Add Value to Your Home
Which renovations are worth investing long term? Most renovations that add long term value are ones that will help to maximize the value of your home when you are looking to sell. The following are ways to increase and add to the value of your home as well as which items buyers are willing to pay top dollar to have in their future home.
1. Kitchen and bathroom remodels
A functional, and updated kitchen is predicted to add 3-7% value to your house. Bathrooms and Kitchen updates most buyers desire are low maintenance, clean finishes, and open floor plan layouts. Currently, homebuyers are looking for stainless steel appliances, granite or quartz countertops, and hardwood or the new vinyl flooring in these spaces as well.
2. Energy Efficient upgrades
Energy Efficient homes are no longer a luxury to the current market, but rather a requirement. As energy prices skyrocket across the US, it is important to homebuyers that attics have insulation, and lighting is LED. Other big ticket items for homebuyers are energy efficient dishwashers and washers/dryers.
3. Fresh Paint
Updated paint jobs can give a facelift to bedrooms or living spaces. Neutral colors that can be staged with multiple layouts work best. Paint also can cover light wear and tear and give the appearance of a newer finish. Just a fresh coat of paint can add 1-3% to the value of your home.
4. Make the exterior more inviting/add curb appeal
Simple touches like adding outdoor lighting, small plants, and updating landscaping can make a huge difference in the first impression home buyers have of your home. Simple edging of drive, walkways and gardens can enhance the landscaping of the property. These small touches can add up to 2% of the value onto your home.
5. Update the Lighting and small fixtures
Simple, ambient lighting that makes sense for each room is a great feature that buyers see as a necessity to enjoy their future spaces. Features like a well lit bathroom, and soft lighting features in a living room can add appeal and have the potential to add 1% value to the home. Ceiling fans in bedrooms also add appeal.
6. Clean and organized spaces
Not only do buyers expect to move into a clean space, but they also enjoy features that can help declutter the home. Methods of decluttering such as built in shelving in mudrooms, and cabinet space in a kitchen can add up to 3% to your home’s value.
These renovations do not have to be costly. Small fixes and additions to your home can add value and provide sellers with a great return on their investment. For larger renovations there are several ways to finance. Home renovation loans are available for those looking to increase the long term value of their home. To see what option is best for you, contact me directly for more information!