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Ideas for Home

Simple Ways to Increase Home Value

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A house is one of the best investments anyone can make. While this is an emotional decision, it's also a financial choice that can improve your life. This is because you can build equity and increase its appraised value over time. While most assets depreciate over time, keeping your home in the best condition with a few improvements can significantly boost its value regardless of location. Several other factors, including housing demand, location, and the economy, will be taken into account when determining a home's overall value. Nonetheless, some improvements are definitely worth the time and effort.

Improving your home is not only beneficial when selling, but also offers an excellent opportunity to create the dream home you've always wanted. These improvements don't have to be expensive. Below are 6 simple and effective strategies that will significantly increase your home's value.

Simple Ways to Increase Home Value

1. Enhance the Aesthetic Appeal (Home Exterior)

Improving your home's curb appeal, such as repainting, can significantly impact its overall value. Almost every real estate agent in the industry agrees that applying a fresh coat of paint to any home helps sell it for more than leaving it unchanged. The best part about repainting is that it's more accessible and easier than other labor-intensive and costly improvements. According to studies, repainting can increase your home's value by up to 5%. It's also worth updating fixtures, replacing the front door, and maintaining your front yard for even better results.

2. Switch to Energy-Efficient Appliances

With current high energy costs, every homeowner hopes to minimize their bills. Upgrading to the latest Energy Star-rated models is a great solution for both your wallet and energy bills. This is especially important if your appliances are over 5 years old. Most appliances made in the last 10 years use more energy than necessary, so replacing them improves efficiency. Installing energy-efficient appliances makes your home more attractive to potential buyers and increases its overall value.

3. Clean, Declutter, and Organize Your Home

Cleaning your home is one thing, but maintaining it in a clean and organized state is another. Consider removing items you no longer use but take up space, especially on work surfaces and countertops. A deep clean can also help achieve a higher home valuation. Wash the floors, wipe baseboards, dust high surfaces, and remove unnecessary items. Installing LVT flooring can also be a great way to boost value.

4. Invest in Kitchen and Bathroom Upgrades

The kitchen and bathroom are two of the most important areas in any home. Renovating or modernizing your kitchen to make it more efficient and functional can increase your home's overall value by up to 15%. According to studies, you're guaranteed a 100% return on investment in the kitchen and bathroom. New countertops or a stone rubber bathtub can be an excellent addition. A full renovation may lead to higher pricing, though it will be costly. If you have a budget, consider a complete overhaul of both the kitchen and bathroom for a significant value increase.

Simple Ways to Increase Home Value

5. Finish Basements and Complete Incomplete Spaces

You want your home to have finished square footage for accurate and fair valuation. While you may not think of a full transformation, simple steps like adding carpet in rooms with incomplete spaces or drywall on unfinished walls can significantly increase its value. As long as all areas are completed and usable, you can be confident in a higher final valuation.

6. Work on the Home's Exterior

Improving your home’s exterior also significantly impacts its value. Visual appeal is the main factor in most home sales, so it's worth investing in this area. It simply means adding landscape elements like fresh mulch and plants, as well as maintaining your front yard.