How to Increase Your Home Value by the Budget
A well-loved home is a lived home. Such a home was probably actively used to hold memories, give security, and provide comfort, and ensure safety. But if we're talking about value, how do we truly increase the worth of our home for future purposes?
If you’re simply seeking to elevate your living experience or are looking for a potential future resale for the next owner to enjoy and take comfort in, there are plenty of ways to increase your home value and consequently make it more appealing to buyers so they can enjoy it the same way you did.
And don't worry, sprucing up your home does not always mean spending big bucks. There are options for all budgets!
Foolproof Ways on How to Increase Your Home Value
No matter what kind of home you have, there are universal truths about adding value that hold true for all. Here, we'll explore several different value-adding practices for home property.
The principles behind it are simple, really: make it livable, comfortable, functional, durable, and aesthetically pleasing, whether through modest or grand ways. Once you have all these covered, your home property is ready for viewing for all its interested next owners.
For When You're on a Budget
1. Depersonalize.
Starting with this simple and cheap value-adding practice, it ensures that a home looks ready to be filled with memories for the next person! For little to no cost, you can remove all super-specific aesthetic decorations, family photos, and other personal items around the house, and it’s guaranteed to increase in value. Practice decluttering or throwing away items that no longer serve a purpose and make space for more functional items or activities in the house.
2. Deep, Deep Cleaning.
Of course, a clean room doesn’t only look clean, it also smells clean! It’s definitely one of the telling characteristics of a home. Whether you hire an affordable cleaning service or clean it yourself, make sure to make it a sanitary and safe space to live in.
3. Repairs and Maintenance.
They don’t have to be all-out expensive, just the basic repairs that ensure a liveable and functional home. A little repair on the plumbing and electricity of the house, or fixing up squeaky cabinet doors, is guaranteed to keep your home in a good, livable, and inviting condition.
For When You're Willing to Splurge More
1. Upgrade.
This can apply to many things. In general, upgrading to the latest appliances, like refrigerators, dryers, dishwashers, etc., can attract buyers. Upgrading lights, cabinets, and other furniture items are also definite plus factors.
2. Landscaping.
You can call on a trusty landscaping company for your outdoor spaces (e.g. yards) to add even more curb appeal. This includes beautifying lawns, gardens, patios, walkways, and, if you’re feeling fancy, water features. Who doesn't appreciate a gorgeous open space these days?
3. Flooring.
A fresh and new flooring modernizes and updates the home’s interior like any other. It can even go as far as making you feel like you’re in a brand new space! Depending on your personal taste or what you see is “in” the real estate market, you can always give your home a makeover!
For When You Want to Go All Out
1. Build/upgrade the bathroom/s.
A spacious bathroom with storage, good lighting, and functionality can seal the deal for the buyers. A new bathroom in the house, especially one that uses marbles or granites for countertops and has neutral, pleasing colors, just might secure a property sale for you! Of course, don’t forget about functionality. The bathroom must be a place of refreshing and relaxing experience each time!
2. Build/upgrade the kitchen.
Used almost daily, the kitchen is a critical space for function and the expression of personal preferences and values. It even determines the household’s health! Thus, a modern and well-maintained kitchen increases the value of a home to a significant degree.
3. Add more living space.
A new bedroom, a bright sunroom, an outdoor kitchen, or even a dedicated home office space can be huge bonuses to the resale value of a home. Today, people are increasingly prioritizing work-conducive homes. Appreciation for well-curated, spacious, and sophisticated home areas has also been on the rise. If you can go all out in elevating your home’s value, it’s worth considering these living spaces.
What room adds the most value to a house?
Some people say that the living room is the soul of the house and therefore should be the most prioritized and beautified living space. But, realistically, for any home-seeking individual or family all over the world, it is often the kitchen that sells the home, adding approximately 4-7% more property value.
A notable runner-up would be the bathroom, which can make or break a sale based on its cleanliness and appearance (think grouts, cabinets, vanities, counter tops, hardwares, lighting, etc.)
It also makes sense that these two rooms cost a fortune to build or renovate—they’re not always cheap! But, don’t worry, below are several tips and ways on how to add value to your home without breaking the bank.
The Takeaway
A home, whether intentionally planned for reselling or not, is a highly sought-after asset in today's market. While personalizing your living space is important for your own elevated experience, futuristic and strategic investments for the home every now and then can significantly increase its value.
It’s good to remember that people, regardless of budget range, always go for curb appeal, energy efficiency, comfort, aesthetic considerations, and modern amenities. These enhancements not only enhance your own living experience, but also make your home more attractive to potential buyers.
Whether you're planning a short-term move for yourself and your family or a long-term investment in the real estate market, these strategies can maximize your home's value.
Any time you decide, your home can be someone else's home, make sure they get the same great living experience that you did!
Need expert guidance on learning how to increase your home value? Reach out to NurtureSource today, and we'll help you out with our excellent renovation and design services.
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