Many people expect that when you buy a house, it will automatically increase in value with time. This isn’t always the case. Sometimes the house model can go out of style, or the neighborhood can become derelict. However, there are steps you can take that will increase the value of your home. Before you take on a remodeling project, weigh the costs against the potential benefit. Do you need to stay in the house a little longer to recover some of the money, or will the selling price cover the costs? Use a cost guide to estimate the cost of your planned renovations. Below are some upgrades to consider:
Update the kitchen
An updated kitchen will increase the resale value of your home. On the other hand, a deluxe kitchen may make your home a wallflower in real estate listings. The first thing you should consider doing is repainting the walls. Use colors that give the room a warm and inviting feel. According to HGTV, colors like red, green, blue, white, grey, and yellow are suitable for a kitchen. Chose colors for the countertops, marble, and appliances effectively, so they blend well. Consider replacing your old appliances with energy-efficient models. A potential buyer will appreciate the fact that they will be able to save on their utility bills.
Reinvent a room
Expanding the house can be very expensive. A cheaper alternative is to reinvent a room. You can convert an attic into a new bedroom or a play area. You can repurpose the cellar into a den. You can turn the basement into a game room or a suit. You can repurpose a garage into a home office or a home gym. Do the latter only if you have ample parking space outside. A rule of thumb when repurposing rooms is not to confine the room to one use. Redesign it in a way that accommodates the versatile preferences of different buyers.
Make your home energy efficient.
An energy-efficient home has two key benefits; it saves on utility bills and saves the world. A study by the North Carolina Building Performance Association (NCBPA) found that green-certified homes sold for more than their non-certified counterparts. Another research showed that they sold much faster too. One way to make your home energy efficient is to install energy-efficient windows. They will lower your heating and cooling costs as they are constructed using a low-emissivity glass that blocks the rays of the sun, thereby keeping the heat inside when it is cold and outside when it is hot. Other than that, consider purchasing energy-efficient appliances, using energy-efficient lighting and hot water systems, and installing solar panels.
Add a bathroom
If your house has few bathrooms, consider adding one. You don’t even have to add on to new space. You can repurpose extra rooms or spaces such as closets or the area under the stairs. You need 18 square feet if you want a half-bath and up to 35 square feet if you want to add a bathtub. The costs depend on the additions and accessories you want. If you have the money, consider renovating the master bathroom too. Some shops reduce the prices of toilets and sinks that have been used as floor models. For great prices on tubs, toilets, and fixtures, consider shopping at a Habitat for Humanity ReStore.
Add a deck
This is for those who are lucky enough to have enough yard space. Many homeowners are looking for homes that have outdoor living spaces. They range from small reading nooks to complex spaces with kitchens and dining areas. You don’t have to go that far though. The cost of adding a deck will depend on the size, materials, and accessories you decide to use. Try to make it versatile to the needs of a variety of buyers; don’t constrict it to your lifestyle. Consider adding a planter and benches to sit on. You could decide to make a DIY project of the addition and save on contractor costs. According to Bankrate, you can get up to a 75% return on your investment when you decide to sell.
Some minor updates help keep your home from deteriorating. For example, paint the interior and exterior of the house to give it a fresh look. Fix the leaky roof, repair or replace the plumbing and electrical systems, get rid of any mold and replace rotten wood. These updates make the house look well-tended to.
When you finally decide to sell, these updates will help your home sell much faster. Contract an agent, put your home in a real estate listing like Movoto and wait. The right buyer will find you, and they will appreciate all the work you have done to the house.