Owning a home is emotionally and financially beneficial, especially when your property value gradually increases. The rate of value increase depends on factors like local house demand, your home’s location, overall economy, etc. Fortunately, you can increase your home’s value by making upgrades that increase its appeal. With that, your home will fetch a higher amount.
Here are the four upgrades that potential homebuyers will pay more for:
1. Transform an Unused Space
Many apartments have unfinished, extra spaces like attics, basements, and bonus rooms. Make the most of those unused spaces to increase your living space and make your apartment appealing to prospective homebuyers. Add your home’s value by turning the unused space into either a:
- Game room
- Home office
- Guest bedroom
- Second living room
- Library or study room
2. Do a Kitchen Remodel
Either major or minor kitchen upgrades always payoff! Most homebuyers will pay more for decent quality appliances, a good layout, and contemporary cabinet fixtures and finishes. Here are kitchen upgrade ideas that will instantly add value to your home.
Minor kitchen upgrades:
- Updating faucets
- Increasing storage space
- Adding a kitchen island
- Updating light fixtures
- Refinishing cabinets
- Installing a new backsplash
Major kitchen upgrades:
- Adding dining, seating, or cooking space
- Adding doors, windows, or square footage
- Installing a wood or tile flooring
- Installing new countertops and cabinetry
A successful kitchen upgrade requires you to stick to your upgrading budget and keep the space functional and relevant to the rest of your home. It wouldn’t be best if you upgraded to a modern restaurant-design kitchen in an old home with old-fashioned charm. This can turn off potential homebuyers.
3. Enhance Your Curb Appeal and Exterior
Talk to any real estate, and they’ll tell you that homes with high curb appeal fetch high prices and take less time to sell. Follow these five curb appeal and exterior ideas and get the price your home deserves!
- Replace Your Garage Door
Garage door replacement can make your home more beautiful, and functional, and increase its value. According to the Door and Access Systems Manufacturers Association (DASMA), about 45% of homeowners with garage doors prefer garage doors as the main entry point into their home.
- Install a Steel Door
Buyers will pay more for a steel door because they’re cold-blocking, energy-efficient, and low maintenance.
- Add Stone Veneer Wall
Improve the look of your home with a fashionable stone veneer to make it more beautiful and increase the value of the apartment. This makeover is less expensive and simple than you might imagine. It changes the entire character and look of your home and makes it more marketable.
- Paint, Paint, Paint
A fresh coat of paint can drastically work wonders for your home, and increase its value. Painting the exterior has about 55% ROI while the interior has a 70% ROI. Even if you liked your cheery yellow front door, this small, inexpensive change before selling your home adds hundreds, if not thousands of dollars to your apartment.
- Spruce Up the Landscaping
Don’t ignore the power of landscaping when it comes to increasing your home’s value. Make sure your yard is green, lush, and well-kept. You can also boost your yard appeal by pruning any shrubs or bushes.
The list is practically endless on how to boost your curb appeal. Keep your curb well-maintained because the outside of your apartment is the first thing potential buyers notice.
4. Roofing Replacement
Roof replacement is a big job, messy, expensive, and requires professionals for a perfect job. A new roof has definite advantages like a nicer and newer appearance, improved resale price, improved warranties, and lower utility bills. Roof replacement yields about 85% of its investment costs upon resale.
Advisedly, spend more money and time upgrading the attic’s insulation to help prolong your new roof’s life. Most homebuyers prefer paying more for a home with a new roof over one with an old-looking roof.
The U.S. property market is currently booming, so you need to consider your next steps when it comes to your home’s final resale price. Consider both your exterior and interior home designs and what a prospective buyer finds attractive. Contact your local experienced home improvement experts for high-quality, low-priced home upgrades.