Five Of The Best Ways To Increase Your Home’s Value

For most people, their home is their most valuable investment. Regardless of whether or not you plan to sell your home soon, you should always look at your home as an asset, not a liability. Essentially, this means that any money that you put into your home must be considered as an investment first. Will that money return to you in the form of increased home value or lowered monthly bills, or will it be an expenditure that adds no value to your home? Keep in mind that not all renovations and upgrades will increase the value of your home equally, and certain renovations may even detract from your home’s value or marketability.

To help you avoid any costly mistakes, and to get the most out of the money you invest in your home, we’ve put together a list of five of the best ways to increase home value. Some of these suggestions can be DIY’d on the cheap, while others may require the services of a contractor. Keep reading for five tried and true ways to increase your home’s value.

best ways to increase home value

1. Boost Your Home’s Curb Appeal

First impressions are important, especially when it comes to your home. The first thing any potential buyer will see is your home’s façade, and even the smallest problem may detract from the overall impression of the home. Luckily you can boost your home’s curb appeal even on a small budget, or opt for a bigger renovation if you have the funds. If you want to start small, make sure your lawn is kept in check, hedges trimmed, and weeds pulled regularly. If you find yourself ending up with barren flowerbeds or dead patches of grass every year, consider hardier and more drought resistant alternatives. But landscaping is just one part of your home’s first impression – you want to ensure your driveway is properly paved and free of cracks, and that your home’s exterior paint and siding are well maintained.
cheap ways to increase home value

2. Don’t Let Your Money Fly Out The Window

Regardless of your local climate, a well-insulated home is both more valuable and less costly to inhabit. If you home is not properly insulated, you could be wasting hundreds of dollars on heating and cooling your home – your home is literally leaking money! Check your attic insulation for any spots in need of repair, upgrade your windows to more energy-efficient double-paned ones, or invest in more efficient heating/cooling systems for your home. If you want to make your home more energy-efficient but aren’t sure where to start, consider a professional home energy audit. During a home energy audit, a professional will assess your home to determine where energy is being lost, and advise you on what changes can be made to ensure your home is energy-efficient.
renovations that increase home value

3. It’s Not Just What’s Inside That Counts

When potential buyers look at a home, they try to envision what it would be like to live in the space. A good portion of the home’s area is located outside in the backyard. Families today spend a considerable amount of their time outdoors, whether it’s for a family barbecue or an intimate dinner with a few close friends. A good backyard is an integral part of a great home, and a huge selling point when you choose to sell your home. So how do you ensure that your home’s backyard is ahead of the competition? With an estimated 70-90% recuperation of the cost, adding a deck to your outdoor living space is one of the smartest ways to increase your home’s value. Deck installation can cost anywhere from a few thousand dollars to well over ten thousand dollars, so choose the price point that’s best for you. Don’t feel the need to splurge, however –  in general, the higher the initial upfront cost, the lower the recoup percentage you can expect. Another improvement to consider is an upgrade to the greenery in your backyard. You can do smaller improvements yourself on a relatively small budget, such as a new flowerbed or an appealing arrangement of terra cotta potted plants. However, if you don’t mind spending a bit more and want a less hands-on approach, consider enlisting the help of a professional landscaper.
ways to increase home value

4. Invest In The Heart Of The Home

The kitchen is, without a doubt, the heart of the modern home. With the rise of open floor plans, it has become an integral part of our living space, establishing itself as the most important and active shared space in the home. If you’re looking to update a room in your home, the kitchen is usually a safe bet. Kitchen updates can be a relatively simple DIY “facelift”, such as updating hardware and freshening with a new coat of paint, or they can be on a bigger scale, with bespoke cabinetry and upgraded appliances. Whichever route you choose, make sure that your renovated kitchen doesn’t clash with the rest of your home. A sleek ultramodern kitchen would be out of place in a Craftsman-style bungalow, and could be off-putting to prospective buyers in the future.
update your bathroom to increase your home value

5. Update And Upgrade Your Bathrooms

Just like updating your kitchen, money spent on a bathroom remodel is money well spent. You can go the cheaper route by replacing the existing vanity with a more updated version, adding a fresh coat of paint, and swapping out hardware. Alternatively, you can opt for a total bathroom redo with new tiling and a new shower/bathtub, and addition of his and hers sinks, or even a complete remodel with a change of layout. Whichever option you choose, remember that at the higher price points, the home value returns diminish. For example, spending several thousand dollars to install a hydronic towel warmer is not a financially savvy move, and is not an upgrade that will add significant resale value to your home. Try to keep bathroom renovations at midrange or slightly above to ensure that you get the best return for your money when it comes time to sell.