4 Things That Affect Your Home Value

Are you considering selling your home in the near future? 

When you’ve had your home for several years, it’s easy to lose track of the value of your property. The real estate market is continually fluctuating, which means that the same home could go on a rollercoaster of financial value even if you don’t make any significant home improvement works. 

Factors such as the location of your property will also be meaningful in defining its price tag. For instance, a house in the proximity of a busy city center is more valuable than a remote property. Additionally, the age of your home can also play a huge role in its value. Modern builds are valuable as they’re more likely to come with an array of modern structure and energy-efficiency solutions. Thankfully, curb appeals, and essential renovation and repairs will help boost your property value, despite its age. 

However, are there other actions you can take to get the best price for your home? 

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Your involvement in homeowner association

The homeowner association, or HOA, is heavily active in establishing a positive environment for the community. You can use the HOA to contribute to urban planning discussions and make the neighborhood more inviting for future home buyers. Additionally, the association can also interfere with the level of taxation in the community and the quality of life. However, without appropriate HOA property management, it can be tricky to have a positive influence on the community. It makes no doubt that your home is likely to be more valuable if the community receives high-quality infrastructure and amenities, something homeowners can influence. 

Basement conversion

The majority of American homes have a basement room. However, most basements are left unfinished. What does it mean to have an unfinished basement? An unfinished area is a room that has no insulation or waterproofing structure. As the basement is more vulnerable to water infiltration and flooding, a finished basement can make potential buyers more confident about the safety of the property. As you progress with the finishing project, you can also add a conversion, which creates a fully functional room out of the basement. A home entertainment area or a home office are popular choices that give future homeowners the option to repurpose or keep the room as it is. 

Luxury bathroom settings

A bathtub is perceived as a luxury option in the bathroom. However, before you invest in an expensive spa bathtub that provides massages and comes with a set of disco LED lights, you need to consider how popular baths are. While opinions are divided, only 10% of homeowners prefer to take a bath over a shower. Additionally, you are unlikely to recoup more than 67% of your bathroom renovation costs when you install a tub. A tub may feel like a more desirable option. However, homeowners prefer showers. In an ideal world, you want to make sure you’ve got both options. 

A beautiful green garden

Last but not least, a lush and green garden can enhance your curb appeal. However, busy homeowners are unlikely to want to maintain a garden. Ideally, keeping your garden landscape manageable and minimalist is more appealing to new buyers. 

Choices we make in our homes today can dramatically affect its resale value tomorrow. It’s essential to make your home appealing to future buyers without compromising on decor and style. Be strategic about the impact of your choices in terms of your community involvement and the long-term maintenance of your property.