There are many factors that can add or take from the value of a house. If you are moving out and planning to sell, or just want to renovate your house, it is important to know which changes really add to the value and improve the quality of living, and which ones are simply not worth it. Since price and value are not the same thing, you can add value to your house and sell it for a higher price, without spending the equivalent amount of cash. Remodeling can be a huge enterprise, so it is better to focus on investments that will certainly increase the value of your property. Here are some useful tips.
Curb appeal is judged by the attractiveness of your property when viewed from the street, and it is very important when you want to sell it. Real estate specialists say that five percent can be added to the value of a house by a positive first impression. The most important factors of curb appeal are landscaping, the conditions of the paint, the driveway, and the front entrance.
Choose plants that are resistant and look good without a lot of gardening effort. On the other hand, if you love gardening, plant a little garden – think about the texture and color that specific plants bring in each season. Make sure everything is neatly painted – the fence, facade, windows, front entrance. Look at the surrounding houses and pick a color for the facade that is unique, but not too shouty. Nobody wants to be that family from the neon-yellow house.
One of the basic features of a good house, or any building really, is that it is built according to universal design principles. This means that the design of a space takes into consideration people’s differences in size, age, and motility. Imagine a potential buyer visiting your house, but not being able to get past the main door. Making your house accessible is very easy in most cases, and it makes it more welcoming, and marketable to a much bigger audience.
Start from the outdoors! Is your driveway properly paved or are there some obstacles? How close can you reach the door with a car? You could remodel your entrance to make it stepless or alternatively add a more accessible door to the back of the house. It would also be advisable to widen your doorways. Indoor accessibility changes will be mentioned in later sections.
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Renovate or add bathrooms
Bathrooms are one of the most important parts of a home’s infrastructure, but they tend to be overlooked. However, a good-looking bathroom is a considerable selling point for any house. It is estimated that, if a house is sold, proprietors can reclaim 57% of the cost of a bathroom remodel.
Bathrooms need to be clean, functional, and also welcoming. An easy way to contribute both to their functionality and looks is by getting new tapware elements. Tapware is easily installed, and when it is new and sparkling, it adds a feeling of luxury (especially if you choose a bold colour like champagne). Further, make sure to include sleek surfaces that are easily cleaned and change a main-level tub to a shower for more accessibility.
It is also absolutely worth adding a new bathroom to the house, especially if there is only one. Chances are you will be able to recover 80% to 130% of the investment.
Update the Kitchen
Many buyers pay most of their attention to the kitchen when looking at new homes. Besides being a space for cooking, the kitchen brings the family together and is often used to entertain guests. It should therefore be practical but also inviting. Owners tend to allocate most of their investments to the kitchen, and, according to some estimations, they should be able to recoup 52% if they sell the house. However, it is important to spend your money wisely.
For example, installing marble or granite countertops, while definitely being very attractive, is not guaranteed to produce a return. A better idea would be to add a new window above the sink, which is practical and attractive, but much less expensive than buying marble. Also, get new appliances! Some trending ones such as drawer-style microwaves or wine refrigerators might give the kitchen some extra luxury.
There is a wide range of changes you can do to raise the value of your home. You are the one who will best assess what are basic improvements that your house needs – what repairs need to be done, is the house accessible and energy-efficient, how are the heating and air conditioning working, etc. Be sure to make a plan and stick to your budget. If your budget allows it, you could think about some extra projects, like adding a deck or some other type of outside living space, converting a room into a home office, renewing your light fixtures, and so on.