Anecdotal reports of people buying fixer-uppers and then selling later for close to twice of their home’s original price abound; but is it really possible to build equity in your home that quickly? The answer is a resounding yes if you know what you’re doing! Below are some insider secrets on the best home improvements that can boost your home’s value.
Invest in Smart Technology
Most people veer away from high-tech features because they are under the impression that technologies used in such can become obsolete quite fast. This is true to some degree but if you’re investing on programmable thermostats and home generators, you’re actually investing in almost fool-proof technology that can bring up your home’s value by as much as 5%!
Lowering Your Home’s Energy Cost
Do you know that by not letting your home be an energy hog, you can boost your home’s value by as much as 3%? An energy-efficient home can bring in buyers by the droves because the last thing they want is to be surprised by huge cooling and heating bills later. Plus points to you if you use energy star windows, LED lights, and proper insulation.
Dress Up Your Kitchen
Potential buyers love homes where they can cook and feel at home the night they moved in. Outfitting your kitchen with stainless steel energy-saving appliances, high quality cabinets, possibly a kitchen island and new countertops can bump your home’s value by as high as 7%. That’s beyond awesome!
Make Your Home Age-Friendly
This isn’t just about baby-proofing the home but making it senior-friendly too. Make your stairs walker-friendly, your bathrooms spacious enough to accommodate a wheelchair, opting for a walk-in shower, installing comfort-height toilets, and basically making sure that all the key rooms are on the first level, will boost your home’s value by up to 2%. That’s always nice to have if you’re ever looking for a home equity loan.
Plan a Fantastic Layout
An amazing floor plan can make a small home feel and look spacious, getting the attention of buyers who value comfort and function. A playroom, an office, a possible granny flat, and upstairs laundry room are amenities that can add an additional 6% value to your home.
Don’t Forget the Outdoors
Many home buyers are looking for a property with an outdoor space that they can enjoy while still being low maintenance. By landscaping the backyard and the lawn, finishing the patio, and giving your home curb appeal, you’ll boost up its value by about 5%.
Paint Can Work Wonders
Repainting is a fast and easy way to update a home’s look while giving it an extra layer of protection against the elements. You have to be careful about paint colours though, as loud colours can scare off buyers. Stick to whites, creams, and beiges to gain an additional 2% of your home’s value by the time that you are ready to sell.
Make Things Easy for Future Buyers
Ornate finishes may look nice now, but they are a pain to maintain and have a tendency to look dated. Stick to easy to clean surfaces (such as hardwood for floors) and make sure that all systems and components are in working order. A few missing roof tiles can make the home look like it needs extensive repairs. By making sure things are in good shape, you can enjoy a boost of up to 5% of your home’s value.