Most people know that home values will increase over time. But what a lot of people don’t know is that they can help raise their home value with a little time, sweat, and money. The key is to think long term. This means that you don’t need to finish all these projects in one year. You can space them out over several years, which is a lot easier on your wallet. An excellent place to start is to prioritize the most important projects you want to finish first.
Finally, keep in mind that the value of your house will fluctuate from year to year. In a booming market, the value will skyrocket. And when the market is depressed, you might owe more on your house than it’s worth. But this is why you need to think long term, not what the housing market looks like today because it will change.
If you’re feeling the DIY vibe, here are a few ways to increase the value of your home.
Upgrade The Kitchen
The kitchen is probably the most important room in any house. It’s where meals are cooked and where people tend to congregate. Upgrades to the kitchen can pay off big time. But don’t overdo it because you risk spending more on upgrades than what you’ll get back when you sell your house.
Start small with new appliances. Stainless steel is always popular, and you’ll easily be able to find appliances that match. Another benefit of upgrading your appliances is energy savings. Appliances built today are extremely energy efficient and can save the homeowner a lot of money on energy bills. These savings make your house even more attractive to potential buyers.
Landscaping For Curb Appeal
Believe it or not, the landscaping around your house can affect your home value. The lawn doesn’t even have to be fancy; a well-maintained yard with a few gardens can make a big difference. The best part is that landscaping is one of the more accessible projects that homeowners can tackle without hiring professionals.
A big part of keeping your lawn looking good is merely mowing it. Anything else you do is just icing on the cake. For example, spreading some fertilizer and weed killer and keeping the lawn watered will make your yard stand out.
Gardens should be simple. Try to stick with plants native to your geographic location. They require less maintenance, help with weed control, and look great. Mixing in some flowers will give your garden more curb appeal.
Backyard Deck And Outdoor Kitchens
Backyard decks make a great addition because they add to your home’s living area but cost significantly less per square foot. A big trend is to make your deck space as comfortable as your living room space. If you love to fire up the grill and/or entertain, installing an outdoor kitchen might be a good investment. Most outdoor kitchens include a grill, a sink refrigerator, and plenty of storage. Basic models can be purchased for a few thousand dollars. In addition to the kitchen area, you should also add comfortable outdoor furniture and even a fire pit for those chilly evenings.
Finish The Basement
Basements are often overlooked and only used for extra storage and maybe a workshop. But when finished off with drywall and flooring, they add a lot of living space to your home. When planning your basement, try to keep the layout as generic as possible. You want potential buyers to be able to imagine how they could personalize the basement for themselves. Many basements are turned into home entertainment centers, complete with large screen TVs, surround sound, plush furniture, and some even have built-in bars. Having a bathroom in the basement is also a good investment.
One thing not to overlook in your basement is flood prevention. Invest money in a sump pump and a back-up battery to prevent flooding during rainstorms. Pumps usually need to be replaced every few years, especially if they run a lot. Potential buyers will like the peace-of-mind that comes with knowing the house is protected from flooding.
Small Improvements Can Make A Big Difference
You don’t need to tear down your house and rebuild to increase its value. A lot of small improvements will make your home more valuable to potential buyers. As long as you stick to a reasonable budget and don’t go overboard with your home improvements, you should see a healthy return on your investment.