Every homeowner wants to add to the value of their home, but it can be difficult to identify the best ways to do so. If you’re planning to sell one day, or you just want to improve your home’s equity, there are many different ways you can approach the task. It’s essential that you take time to balance the cost of each project against what your projected return on investment is. Even if you still choose to invest in upgrades that primarily benefit your quality of life, it’s a good idea to know exactly what value you can expect to get out of any home improvement project you take on. For those with a narrower focus on upgrades that prioritize improving your equity, keep reading to learn more about five ways you can increase the value of your home.
1. Keep up with home maintenance.
You may not realize how much money home maintenance can save you, and how valuable having a house with all its home systems in working order is for buyers. If you find yourself asking, “Why does my AC smell weird?“, it’s a good idea to have a technician inspect your HVAC system. Not only are breakdowns expensive, a malfunctioning air conditioner or one with a dirty filter may also fall victim to poor air filtration. This can let moisture, allergens, mold, and other contaminants into your home, increasing your risk for both property damage and health issues connected to these pollutants.
2. Upgrade your kitchen.
There are few rooms you spend more time in or require more use from than your kitchen. There are several smart kitchen upgrades that add value to your home that don’t involve a full kitchen renovation, which can often be expensive and unnecessary. A few changes like adding new countertops or installing replacement windows can change the whole look of the room. If your kitchen technology is out of date, it’s also a good idea to upgrade to more modern appliances, which can be a major benefit for any prospective buyer.
3. Invest in landscaping.
Landscaping holds its value more than most home upgrades, so you can expect a reasonable return on your investment. Another important reason to prioritize landscaping is that it boosts your home’s curb appeal, which is a big part of attracting buyers to your property should you ever decide to sell. You don’t have to overhaul your entire lawn, but adding some greenery can give the look of your home’s exterior a big boost.
4. Consider eco-friendly improvements.
Homebuyers are starting to prioritize homes that have environmentally friendly and sustainable upgrades. This can include smart technology innovations like the smart thermostat, which operates on a timer and is fully programmable, allowing you to save money on your utility bills. It can also include larger installations like solar panels to help handle your home’s energy demands. If you want to appeal to the modern home buyer, think about your home’s environmental footprint before you put it on the market.
5. Put on a coat of fresh paint.
Interior and exterior paint are one of the most straightforward ways to boost your home’s visual appeal. Research suggests buyers prefer cool and natural tones. Bright colors like yellows, pinks, and reds can be overwhelming and alienating, and make it more difficult to imagine a room with different design choices. While you want your home to look attractive and stylish, décor that is overwhelming and specific can turn buyers off.
While there’s no one-size-fits-all solution for home improvement, there are several ways you can reliably increase your home’s equity. You can make upgrades as small as repainting or as involved as installing solar panels or a new HVAC system. The most important thing is to ensure you balance the cost of these upgrades with the value they add. Projects like landscape design that will give your home’s curb appeal a boost should always be a priority, but you shouldn’t neglect your appliances and home technology as well. Buyers generally prefer to live in a modern home where they’ll feel comfortable. Ultimately, the best investments for your home are the ones that combine comfort and style, and that leaves you comfortable room to make a profit on the cost of their installation.