Best Home Improvements to Increase Value

Best Home Improvements to Increase Value

A home is an investment. This is an undisputed reality for homeowners across the board, and this becomes especially important when the prospect of selling your home is on the horizon. In an ever-changing real estate market, being aware of the ways to increase your return on investment (ROI) is crucial in the long run. We are in an age of home flips and home improvements, inundating the market with properties formerly underutilized or simply failing to meet their potential. Paying attention to your home's ROI allows you as the homeowner to invest in it as a capital asset, meaning if you wish to put it up on the market, list it as an Airbnb, rent it out, or simply appreciate it for yourself, there would be endless financial benefits.

So, how can you increase value? Do not worry—here are some of the best home improvement tips to increase value.

Up-to-date appliances

Photo courtesy of Shutterstock
Social media, blog posts, and television shows have proven the transformative benefits of having up-to-date appliances within a home or property. When an older home is being flipped, the first things to be changed out are usually the appliances in the kitchen and the bathroom. Think about it: would you want to buy a home that has a sink from 1983 and a gas stove made after World War II that looks questionable at best? Having older appliances will easily date the home, causing hesitation in potential buyers, renters, or guests.

Adding newer appliances is a fantastic first step that assures prospective buyers that you care about your home and are considerate about its valuation. Taking the time to change out certain appliances, such as refrigerators, stoves, sinks, showers, dishwashers, microwaves, and ovens, also removes quite a bit of heavy lifting for anyone who may want to rent or purchase the home. In this way, such improvements increase the value of the property and justify a price increase. It is an assurance to whoever stays in the home that it is properly viewed as an active investment and their comfort is taken into account.

Revitalize dead space

Photo courtesy of Unsplash
If a house is a certain size, the odds of there being dead space are high. Dead space is a  space within a home that is not used regularly or is unfinished. Basements and attics are common examples. They are concrete, unfinished, unused spaces mainly housing the water heater or the odd box of holiday decorations. Every once in a while, dead spaces can include a bedroom or extra den that isn’t really in rotation of the hustle and bustle of everyday life. By ignoring these spaces, you are missing out on the untapped potential that could be the tipping point for skyrocketing a home’s value.

Creating a loft space in the attic or finishing the basement means the room count will increase, thus upping the value of the property overall. The whimsy of an attic bedroom, office, or loft that has been transformed into a cozy space of escape, or turning an unused basement into a spare apartment, a home theater, or a game room, will set the property apart in a way that will not only make it more appealing but will also benefit the long-term investment.

Even transforming an extra room into a home office or a gathering space for entertaining will offer endless possibilities, becoming the winning factor in a buyer’s market. Plus, with the rise of remote work, more and more buyers are seeking spaces where they can work full-time. Therefore, the use of a designated space for work that is separate from the “living areas” can be a huge selling point for those who want to have a space specifically for work.

Get that curb appeal

First impressions are everything. The majority of individuals searching for a home will decide if they want to venture inside from the look of the exterior alone. From this, we can glean the importance of curb appeal to the average buyer. It is the introduction, a teaser, and a first impression that will make or break a potential buyer’s interest, which will affect their purchasing choices. Taking the time to give your property a facelift is a crucial first step to drawing in future homeowners.

Some factors help increase the initial visuals of the home, thus boosting the ROI. A fresh coat of paint can do wonders to freshen up your home’s look. Restructuring the exterior is the next step in providing interest. Many homeowners have completely morphed the look of their homes by adding brick or other interesting elements that draw in the eye.

Changing the front door or windows are also gorgeous improvements that add a level of eye-catching modern elegance. Upping the ante of the landscaping to provide a lush foundation and entryway for the house are also vital tweaks, in addition to cleaning up the porch and freshening up the garage door. These small improvements go a long way in bringing around the buyers and boosting ROI.

Style it out

Photo courtesy of Unsplash
Never underestimate the benefit of rearranging a space. Interior styling can do wonders for those who are trying to draw in renters or potential vacationers. The interesting angle of a furniture arrangement, leaning a large mirror against a wall, and using a gallery wall can all morph a space into whatever you want it to be.

The use of interior design is a masterclass in visual psychology, tricking the eye to make a space feel bigger, smaller, cozier, chicer, or whatever vibe you want to convey. Using proper design methods can change the look of the space, making it look more luxurious, thus upping the return on investment. This method can benefit the homeowner (after all, who doesn’t want to live in a luscious space?). Plus, proper staging allows renters and buyers to feel a greater pull, placing the property in a better bracket.

Contacting an expert agent like Trisha Kannon should be your first step if you are considering your options. Her expertise in calculating home valuation, expertise in staging will help you decide which projects will get you the best return on your investment.  Take the time to connect with Trisha to capitalize on your home improvements today.

*Header Photo courtesy of Unsplash

Let's Connect

Trisha brings an in-depth knowledge to every transaction. Providing up to date market analysis and guiding clients with an approachable style and unwavering integrity is her top priority.

Follow Us on Instagram