5 Ways to Increase Your Home's Property Value
Written by: Angelica Largo
Increasing your home’s property value can seem like a daunting and expensive task. Property values can fluctuate because of the current economic situation in your city, the job market, and the availability of mortgage funds.1
Whether the market value of houses in your area are rising or falling, there are still things that you can do as a homeowner to increase your property value.
Here are five tips to help you improve your property value and the overall appearance of your home.
1. Add Fresh Paint
Painting the interior of your home can be an inexpensive way to improve the overall appearance of your home. Freshly painted rooms look clean and give the home a newer feel.
The most important thing to remember when you are painting your home, is choosing colours that are visually appealing and that do not clash with your décor. The rule of thumb to follow when picking the perfect colour to sell your home is choosing a neutral, not only does it look fresh, but it appeals to the widest range of buyers. HomeLight has a great guide to choosing a colour that will help sell your home.2
When it comes to increasing your homes property value, sometimes the smallest upgrades make the biggest difference. A freshly coat of paint can brighten any room and make it look more welcoming.3
2. Visually Increase the Size of Your Home
The size of your home can drastically change its value, but square footage isn’t the only size that matters.
Visual space and how large the interior of a home feels is important to many buyers. Those with larger families are typically interested in homes with more storage space as larger families tend to have many belongings. As a homeowner it is critical to highlight your home’s storage features to increase your property value.4
To visually increase the size of your home, start by decluttering your closets, cabinets, and your garage. The fewer things potential buyers see in your storage space, the bigger the space will seem. Moreover, organizing and decluttering your home before a big move will help you decide what items you want to keep when you move into your new home.
3. Do Small Bathroom Upgrades
According to HGTV, small bathroom upgrades help increase your property’s value without denting your wallet.5
Full bathroom renovations can be time consuming and expensive. Sometimes as a homeowner, it is easier to make small upgrades to your bathroom so that you can make a bigger return on your property.
Some bathroom upgrades we recommend are:
- Replacing old lighting to brighten up the room. Be sure to avoid yellow bulbs and cold fluorescent lighting.
- Replacing dated wallpaper or giving the room a fresh paint job. Neutral tones are the most timeless and appreciated by buyers.
- Switching out your old shower curtain for a new one that matches the style of your bathroom.
4. Do a Budget-Friendly Kitchen Update
Kitchen updates are the key to maximizing your home’s property value, it is the place where families tend to gather, making it a major selling point for buyers. There are so many different aspects of a kitchen that can be improved to increase your home’s value, making it the perfect part of your home to update.
Here is a list of ideas to improve the overall appearance of your kitchen:
- Purchasing new knobs or pulls for your kitchen cabinets is an inexpensive way to make them appear newer.
- You can easily replace an old kitchen faucet for $100 to $200
- Try swapping out some of your old appliances for shiny new models. Something as simple as a new appliance can make a big difference and add value to your home.
- White paint can do wonders to old cabinets! If your cabinets are in good shape, a paint job will completely transform them and make them good as new. Lowes has a great guide on prepping and painting kitchen cabinets that is worth watching.
5. Spruce Up Your Homes Exterior
The exterior of your house is just as important as what’s inside! Not only is it the first thing that people see when they are viewing your home, it also determines if a buyer will be interested in seeing what is inside.
Curb appeal is a term that describes the overall attractiveness of a house from the sidewalk to a prospective buyer.6 The outside of your home is important because a clean and inviting exterior improves your home’s curb appeal.
An easy way to improve your curb appeal is by tidying up your garden and keeping your landscaping clean. Ensuring your garden is free of weeds and overgrown shrubs can make a big difference to the exterior of a home. Similarly, making sure your landscape is clean can significantly improve the overall appearance of your home’s exterior. Caring for your lawn by keeping it well cut and watered will help your property stand out from others and draw in buyers.
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