Hi lovelies,
Most people have thought about renovating or upgrading their homes in some way. That could be for various reasons, such as wanting to increase their net worth or simply to have more space. Regardless, the process can be more complicated than you’d think.
If you want to increase your home’s value but want to enjoy any renovations you have, then you could wonder what your options are. There are a few things that you should focus on if you want to tick both checkmarks.
How To Increase Your Home’s Value
Add Some Extra Spaces
The larger your home is, the more you can expect it to sell for. That doesn’t just mean adding a few extra rooms. That’s because different types of extensions can bring in more interest from buyers. It’s one thing to have an outdoor shower enclosure, it’s another to have a patio that goes completely around your house.
If you have an unfinished attic or garage, then it’s worth finishing these off. When you’re doing so, you could consider turning them into another room. An extra bedroom or living room will lead to a sizable bump in your home’s value. That should be enough to justify the cost of the renovations.
Invest In Energy Efficiency
Energy efficiency has become increasingly prominent in the home market. Potential homebuyers put a lot of emphasis on this for multiple reasons. Being environmentally friendly is one of the more notable. If your home isn’t energy efficient, then it’ll sell for much lower than you’d expect.
To overcome this, switch to energy-efficient appliances. While these used to be expensive, they’re now quite affordable, as they’re much more commonly bought than they used to be. Any old electricals should also be replaced, while any cracks or holes in your walls should be filled.
Your windows, doors, and other areas can also be something to look at and should be quite affordable to bring up to certain energy-saving standards.
Upgrade Your Bathroom & Kitchen
There are certain areas that homebuyers pay attention to when inspecting and comparing homes. The most common of these are the bathroom and kitchen, which makes them prime areas to focus on.
Upgrading your bath, cooking equipment, and other features can make a large difference in your property’s value. Even upgrading the small finishes could be enough to increase your home’s value.
Wrapping Up
Renovating your home, especially to increase its overall market value, can be a stressful process. It’s one thing if you already know how to increase your home’s value. It’s quite another to implement these changes, as you’ll need to hire contractors and look after many other areas.
Once that’s done, however, you should feel a lot of relief, alongside some excitement for using your renovations and extensions. If you can’t afford all of the above, try doing them over the long term. That approach can be seen as more of an investment in your retirement, as you can sell the property for a sizable profit before retiring.
What isn’t to love about increasing your home’s value?
