Want to improve the value of your home? Maybe you’re thinking of selling or maybe you’re looking at refinancing your existing home and tapping into some of that equity? Whether you’re selling or just want to upgrade the property, some improvements provide a better return on your investment and are quite simple. Here are 4 ways to increase the value of your home and some other tips from the pros.
But before you get too far, consider hiring a professional property inspector. An inspector is a trained eye that will notice things you might not. The inspector will go from room to room, carefully examining the physical properties of your home. There is a sizable checklist used that will list the current condition of everything from floor to ceiling. This completed list will help you determine what projects to tackle and how much it will cost to make those changes. Let the inspector know that you’re thinking of selling and you want suggestions on things you can do to add value.
You can also get very valuable advice from a real estate agent. Agents are keen on new trends and what buyers are looking for in the current market. For example, that den you haven’t been to in a while might be better off changed into a bedroom. Getting rid of unused space and converting it to valuable square footage is an easy fix.
In the Kitchen- The best improvement you can make in your home is your kitchen, at least in terms of a return on investment. But complete kitchen remodels and can be expensive. If you want to add value to your home but you don’t want to spend a lot of money in the kitchen, consider switching out the old faucets and install shiny, new ones. In addition, a thorough cleaning will also make those new faucets shine.
Have you thought of replacing countertops with new granite? That’s a popular yet also expensive upgrade. But when people start reviewing homes for sale and see the phrase, “Upgraded kitchen with granite countertops” it gets their attention. But instead of a custom granite countertop, consider granite tiles instead. They’re much less expensive but still leaves a quality, granite finish.
In the Bathroom- It’s always the kitchen and the bathrooms that command the most attention and when there’s more attention to your home there’s more demand for features buyers want today. And just as replacing faucets in the kitchen is an easy switch, so too are brand new faucets in the bathrooms. New shower heads go a long way as well. And speaking of shower heads, think of replacing that old bathtub of yours with a new walk-in shower with shower sprays and a seating area. You can install new tile in the shower or you can install a shower that is precut to replace the bathtub.
A less expensive approach is to paint your tub and tile. Many older homes still have outdated color schemes but with the proper paint, you can change the look entirely. Check with your pain pro about the proper type of paint to be used.
Want a master upgrade in the bathroom? Look at the countertops and think about replacing aged tops with granite tiles. An inexpensive upgrade that will immediately add value. You might also want to think about getting rid of any overhead lighting and replace it with side-mounted lighting fixtures.
New lighting fixtures, light switch covers, paint and a little decorating go a long way and are relatively cheap.
Fireplace- Depending upon where you live, a fireplace is either a necessity, décor or both. But if you haven’t taken much notice of your fireplace lately, perhaps a better look is needed. Think about cleaning out your fireplace entirely, getting rid of soot and ash. Wash the brick and paint it a dark, heat-resistant color. The surrounding mantle and stone areas can also be painted to update the look entirely. If a fireplace is more of a decorative item and rarely, if ever, used to heat the home, consider arranging several white candles where the grate used to be or even directly on the grate. If you later decide you want to fire up the fireplace, it’s an easy switch.
Front Door- A new, welcoming front door is always a nice value-add. Take a look at freshening up your entryway with a new coat of paint. Doors today run the gamut on price so there’s always an affordable solution for any budget. A new door will add precious “curb appeal” to your home and will instantly attract more potential buyers.
And speaking of curb appeal, make sure the lawn is mowed, edged and sidewalks cleaned. Landscaping should be nice but not overly done, as some new home buyers can view this as a constant chore to upkeep.
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