There are many reasons you might want to give your home a makeover to increase its overall value. For instance, maybe you are looking to sell your current home or one of your rental properties, or maybe you just want to increase the rent a little.
Whatever your reason, there are several different ways you can increase the value of a home, from giving the bathroom a makeover to changing the floor plan, but make sure to do your homework in advance – after all, you don’t want to end up losing money, right? Check out the real estate market to determine what the current and future home trends are for the area the home is in. Also, take into account the house’s age and overall condition (you know, things that you might not be able to really improve without taking a bulldozer to it) before you do anything major. You wouldn’t want to pour a lot of money into the redesign, with the intent on increasing the value, only to find out too late that there is a max value for the home’s age and style.
So, whether you’re simply seeking some advice for new landlords looking to pull in extra rent or you’re considering some serious improvements, here are some tips (ranging from basic to complicated) that will help you to increase your home’s value.
How to Increase Your Home’s Value
Upgrade the Kitchen
There are only a couple of spaces in a home where people spend the most time and want the most up-to-date fixtures and one of them is the kitchen. Ask any real estate professional what the one area most worth upgrading is and they will probably tell you that it is the kitchen. This is especially true if you’re renting out a property; one of the most important pieces of advice for new landlords is to focus on the amenities prospective tenants want – a beautiful kitchen tends to top the list. The same goes for selling a home; younger buyers are looking for open kitchens with updated appliances.
Now, depending on your kitchen’s layout, there might be any number of things that you can do. Is the kitchen separate from the dining room and the living areas? If yes, are you willing to knock those walls down? Nowadays, it is all about open floor plans that create an organic flow throughout the home, so if you have the means, knock down those walls to create one large living space that combines those three areas. This will also give you more freedom in terms of adding features, like an island counter with a pot rack hanging above, and will overall help to tie the whole aesthetic together. Look to update fixtures with new stainless steel ones and repaint the cabinets, and then consider upgrading back-splashes with some colored tile.
Now, the Bathroom
You know how we said there are only a couple of spaces in a home where people expect the best? The bathroom is the other one and there is a ton of room there for some serious upgrades that will cause the value in your home to skyrocket. When designing a new bathroom, think spa. You want to choose fixtures and colors that will promote a relaxing and soothing atmosphere. Try updating the bathtub with a claw foot model and create a walk-in shower with a rain shower head. Install wall lighting instead of the nasty overhead style, as it will help to create a relaxing and warm feel. If you want to get techy, add heated floors.
Maybe Just Keep it Simple
If you don’t want to (or can’t afford to) go big with improvements, there are loads of small things that you can do that will help to increase your home’s value. Take a look at your house with a fresh perspective – maybe even have a friend help you with this – and jot down all the little things that can be updated easily and quickly. For instance, by giving a room a fresh coat of paint you can seriously liven up the space by making a small room look larger or making a drab room look exciting. If you want to make your home a little more technologically advanced without turning it into a smart home, you can simply replace the outlets to include USB ports to make the charging of devices easier – tenants will love this one.
Put Some TLC Into the Exterior
Curb appeal is important. It does not matter how gorgeous the home’s interior might be if the home’s exterior and front yard are a mess. Whether you are looking to sell or need new tenants, the first impression goes a long way so consider investing in the way the home looks from the sidewalk. You want it to be the type of house that makes passersby stop and say, “Now, that is a cute house.” You can achieve this through a fresh coat of paint (don’t forget trims and maybe even the front door) and some inventive landscaping. Plant native bushes and flowers to keep water costs low and think about how you can utilize accents, like rocks and bird feeders, to give the place a classic vibe.
While this goes without saying, you won’t be upping the value of your home anytime soon unless the entire home is immaculately spotless. Before you try to show it with the intent to sell or rent it, give the entire property a serious top-to-bottom cleaning. After all, the most tech-friendly upgrade in the world isn’t going to save a dirty house.