Previous Story
6 Home Improvements That Increase Property Value
Home repairs can be expensive and time-consuming, but doing them can add tens of thousands of dollars to the value of your home. Some home improvements will increase your equity more than other enhancements, so it’s okay to be selective in what you choose to fix. Try these six home improvements and watch the value of your property increase.
1. Improve Your Kitchen
Many families spend most of their time in the kitchen, making it one of the most-used parts of your home. Make yours cozy and inviting with basic kitchen improvements. Making a major improvement can be too costly, so get the most for your money. Replace countertops with granite, give your cabinets a new coat of paint, replace the cupboard doors, or upgrade the lights. Small changes can easily give it a modern look.
2. Remove Carpet
For many years, buyers have preferred hardwood or ceramic tile over carpet. This trend is inspected to stick around for many years. Hardwood flooring and ceramic or stone tile has a much longer lifespan than carpet and looks nicer in a home. If your home’s carpet needs to be replaced, it’s a good idea to rip it out and install tile or hardwood. If your home already has hardwood, you may consider refinishing it to make it looks its best.
3. Replace the Roof
The roof of your home must be in good shape. It helps beautify a home and protects it from wind, rain, and other weather conditions. Repairing or replacing the roofing can also make your home more attractive to buyers and adds an average value of $12,000. The professionals at Brooklyn commercial roofing can help replace or repair your roof.
4. Add Energy-Efficient Insulation
Lower your utility costs while increasing your home’s value by installing energy-efficient insulation. Adding a few hundred dollars worth of insulation to the attic or in-between the walls can save your family $2,500 in utility costs each year. It’s also a good idea to seal up any leaks or gaps around the windows and doors that may not pass a home inspection.
5. Look at the Outside
One of the best ways to increase property value is by adding some curb appeal to your home. Landscape your yard with simple plants and trim your grass, trees, and bushes. Add perennials in flowerbeds to add a splash of color to get your home noticed quickly. If your home needs new siding, consider replacing it with a manufactured stone veneer. This can quickly update a house without costing too much money. If replacing the entire outside of the home with a veneer is out of your budget, try replacing the lower half of the walls to make it stand out.
6. Finish Your Basement
High-income buyers who are looking to buy a home want a basement. This is particularly true of homes for sale in the northeast, mid-Atlantic and Pacific northwest. If your home has a basement, consider finishing it. Adding drywall, painting the walls, and installing flooring can cost less than $20,000 depending on the basement’s size and what work needs to be done. Finishing the basement will make it more appealing to buyers, add to the home’s square footage, and add up to $50,000 to your property’s value.
Sometimes selling a home as-is is the best option for a homeowner; however, it will decrease the amount of money made on the property. With a few home improvements, you can help increase your property’s value and enjoy putting the extra money toward your next home.
