5 Proven Ways to Increase Home Value
Making your house more efficient, adding square footage, upgrading the kitchen or bath and installing smart-home technology can help increase its value.
1. Make it more attractive
Curb Appeal — how your home looks from the street — is your first chance to make a good impression. A home’s exterior needs to make a prospective buyer want to walk through the front door.
Once the exterior looks good, focus on the kitchen and bathroom. When these two rooms are outdated, they can keep a property from reaching its highest valuation. A minor kitchen remodel recoups 81% of its cost in added value on average, versus 53% for an upscale kitchen remodel with stone countertops, custom cabinets and commercial-grade appliances.
The same is true for bathrooms; a midrange remodel — new flooring and a few updated fixtures — delivers a 70% return on investment, while an upscale bathroom remodel — heated flooring, custom cabinets and designer fixtures — sees 56% on average.
2. Make it low-maintenance
Improvements that make things easy to clean and maintain may also increase home value. Consider replacing easily stained carpet with hardwood floors or replace high-maintenance wood siding with vinyl siding.
3. Make it more efficient
Energy conservation features can have a significant impact on home value, depending on what area of the country you’re in,
Energy conservation features can have a significant impact on home value, especially in places that experience extreme heat or cold.
Consider double-paned windows, enhanced attic insulation, LED lighting and efficient appliances as a way to increase home value and entice energy-conscious buyers.
Schedule an assessment with a certified energy auditor or your utility company to determine where your home is wasting energy and which upgrades will save you the most money.
4. Make it bigger
Square footage has a huge impact on value. Price per square foot is one way she helps clients compare homes that are similar in style and upgrades.
Bigger homes often command higher values, and even if an appraiser doesn’t officially acknowledge the full value of added space, a buyer will likely notice.
5. Make it smarter
While smart tech doesn’t always increase home value, it does add appeal.
Those who see themselves as “techies” are more likely to pay more for these items.
Unlike replacing the roof or renovating the bathroom, you can usually install these devices yourself for about $600 or less.