If you’re thinking about selling or cash-out refinancing your home, home value is likely at the forefront of your mind. Your home’s value isn’t stagnant and in many ways you're in control of it. Homeowners can tackle some simple projects to help boost the value. Here are three ways you can easily increase your home’s value.
Add Some Curb Appeal
There are plenty of ways that you can jazz up the outside of your house. Some of them are even free! Here are some simple projects you can tackle to boost your curb appeal and therefore your home’s value.
- New House Numbers- Updating your house numbers can make a huge difference in the overall look of your home. Choose a style that is both modern and compliments your home’s aesthetics.
- Yard/House Clean Up- Simply cleaning up around the yard and giving the outside of the house, sidewalks, or driveways a good scrubbing can make a huge difference in how people would value your home.
- Add Greenery- Putting in some new plants that appeal to the modern buyer can go a long way and will cost you very little. Use low maintenance plants that do well in your climate so that they don’t become a potential buyer with a black thumb’s worst nightmare.
Hit High ROI Areas
Some projects are going to reflect more in your home’s value than others. Kitchens and bathrooms are two rooms with generally high return on investment. This means that you’ll increase your home’s value more with a smaller investment of time and money.
- Give Cabinets a Face Lift- You can either hire a professional or do it yourself. Existing cabinets in kitchens and baths can be refinished for a more modern look. This project doesn’t have to cost much and can have a huge visual impact on these areas.
- Update Fixtures- Changing out light and plumbing fixtures can change the look of your home entirely, giving it a whole new feel. It doesn’t have to cost much, and you may be able to do some research and tackle this type of project on your own.
- Add a Backsplash- You can really change the look of a kitchen or bathroom with a new backsplash, and you can pull it off in a weekend.
Make Energy Efficient Moves
Whether you're thinking of moving or not, making your home more energy efficient is sure to pay off. You may even qualify for tax credits for making this type of update to your home, and it’ll increase your home’s value.
- Replace Energy-Sucking Appliances- Updating to appliances that don’t require as much energy to operate will save you money now on your energy bills and earn you money later through a higher home value.
- New Windows and Doors Cut Drafts- Installing new windows and doors can shore up air leaks in your home, and you can target problem areas.
- Insulate the Attic- Attics insulation can keep your home’s temperatures where you set them, helping your climate control systems do less work and keeping your home comfortable.
The Final Word on Increasing Home Values
While improving your home value is great, make sure that you personally appreciate the effects of the projects you decide to tackle. If you can’t decide which projects would be the best for boosting your home’s value, ask a trusted friend or real estate professional for their objective opinion.
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