A home is an investment. It’s a place where you can put down roots, raise a family and build memories that will last a lifetime. But your home is also an asset, and like any other valuable asset, you want it to grow in worth over time.
Fortunately, there are things you can do to enhance the value of your home investment. Read on for tips on how to make your home more desirable — and therefore more valuable — to potential buyers in the future. Even if you do not plan to sell your home, making it more valuable builds your wealth.
Keep on Top of Maintenance Tasks and Repairs
One of the easiest ways to devalue your home is to neglect its upkeep, including routine maintenance tasks and repairs. If you let small problems fester, they will become bigger and more expensive problems down the road. In addition, potential buyers will be turned off by any hint of neglect when they are considering your home as an investment.
So, stay on top of routine maintenance tasks. These are the basics you must ensure to do regularly:
- Clean the gutters and downspouts.
- Inspect the roof for leaks or damage.
- Check windows and doors for drafts or damage.
- Test the HVAC system to ensure it is working properly.
- Change the furnace filter.
- Flush the water heater to remove sediment buildup.
Additionally, don’t wait to address any repair needs that come up. Fix any leaks, cracks in the walls, or any other problem areas as soon as possible. Not only will this help keep your home in good condition, but it will also show potential buyers that you have taken care of the property over the years.
Also, ensure that your home is cleaned regularly from top to bottom. Don’t leave dishes in the sink or dirty clothes lying around. Remove clutter throughout the house. Ensure that even hard-to-reach areas like the ceiling and baseboards are dusted regularly.
Making these small improvements will not only make your home more valuable, but it will also make it more comfortable and inviting to live in.
Make Energy-Efficient Upgrades
Energy-efficient upgrades are not only good for the environment; they are also good for your wallet and the value of your home. By making your home more energy-efficient, you can save money on your utility bills and make your home more attractive to potential buyers. Energy efficiency is a big selling point for today’s home buyers.
There are many ways to make your home more energy-efficient. Some simple changes you can make include the following:
- Install low-flow shower heads and faucets.
- Replace old appliances with energy-efficient models that have Energy-Star certification.
- Use LED lights as replacements for all your light bulbs.
- Add insulation to your home.
- Seal air leaks around windows and doors.
- Install solar panels.
Add Valuable Rooms or Features
Adding more rooms and features to your home will increase its value. Additional bedrooms and bathrooms are always in demand, so if you have the space, consider adding an extra bedroom or bathroom to your home. With more people now working from home adding a home office or two that could be closed off to be soundproof would be a valuable asset to many. If you don’t have the space to add more rooms, you can still add value by converting an unused basement or attic space.
If you do have extra space, consider adding a conservatory. This is an elegant room that brings light and a view of the outdoors to your indoor space. The garden room’s interiors can serve as an additional living room, a hobby room, a library, or even a home office while bridging the outdoors and your indoor space.
Another way to add value to your home is by updating its features. Consider remodeling the kitchen or bathroom, adding hardwood floors, or putting up a new roof. These are all features that potential buyers will be looking for when considering your home as an investment.
Upgrade Your Home’s Exterior
The first thing potential buyers will see when they pull up to your home is its exterior. If your home’s exterior is in poor condition, it will be a turn-off for potential buyers. Make sure your home’s curb appeal is up to par by doing the following:
- Clear out any clutter from your porch or yard.
- Pressure wash your home’s exterior and sidewalks regularly.
- Repair any cracks on your home exterior and refresh the paint.
- Paint your front door a bright color to make it stand out from the rest of the house but ensure that it complements the style of the house.
- Ensure that your mailbox looks presentable and matches your home’s exterior design.
- Landscape your yard in a way that is both beautiful and practical and keep the lawn neat and trimmed.
- Ensure that your home’s address is clearly visible.
By improving your home’s exterior, you can increase its value and make a good first impression on potential buyers at the same time.
Monitor Your Home’s Value
Monitor your home’s value over time and adjust your strategy accordingly. Home values can go up or down depending on the state of the economy and the real estate market. Keep an eye on your home’s value so you can make adjustments to your strategy as needed.