Buying a home is one of the first investments many people make, and increasing home value is an excellent way to net a good return on that investment.
One benefit of owning a home is that property value can increase on its own over time, which is called home appreciation. You don’t have to rely on time alone to raise the value of your home, however.
Here are four areas to focus on when making home improvements:
1. Improving Appearance
Updating the appearance of your home can easily increase the value of it. One of the easiest and budget-friendly visual improvements you can make is simply to add fresh paint. Painting walls can refresh a home and make a world of difference in the way a home feels. The right paint color can make a room feel bigger and more full of light. Decorating your home can also add value and appeal.
Focus on one room at a time, starting with the living room, the kitchen, the master bedroom, and the dining room. Don’t forget about the exterior—curb appeal is also important. A green, manicured lawn is one of the first things someone will see when viewing your home. Healthy, maintained landscaping shows care, and a freshly painted front door is inviting.
Maintenance goes a long way toward increasing your home value. When it comes time to sell, you will save money by keeping everything in good shape. Even if you aren’t moving anytime soon, you may want to hire an inspector. They can find any issues that might be present in your home, which you can then take your time to repair and replace.
When it comes time to sell, this inspection is a record you can show potential buyers that shows the level of care you have placed on the home. Cleaning is another form of maintenance that can cost very little, and it will also help you notice any maintenance issues, repairs, or patches that need to be made.
3. Adding Space
The median price for a square foot of a home in the U.S. is around $120. If you can add square footage to your home, you will automatically increase its property value. Finishing a basement, adding a deck, or converting an attic can increase the square footage of your home, easily boosting its value.
4. Enhancing Efficiency
Maximizing the energy efficiency of the home saves money now, and increases the home’s value when it comes time to sell. Planting a shade tree is another budget-friendly way to increase a home’s efficiency. Well-placed trees can decrease the cost of cooling your home by as much as 40%, and they add to the beauty of the exterior, making them a win-win.
Bob Buys Houses Can Help
If you are ready to cash in on your home value, contact Bob Buys Houses today. We serve the Salt Lake City area and can help you with a speedy sale on your home.