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As a property owner, your main objective is to grow your investment so that it’s worth more than what you bought if you decide to dispose of it. A family home is a lifetime investment that will house multiple generations for many years. Though the location and market dynamics are significant determinants of a property’s value, there are things a homeowner can do to raise the family home’s value. Sometimes, even minor structural adjustments can significantly impact your property’s value. This guide explores five ways to grow your home’s value and get a good return on investment.
1. Spruce up your family with fresh paint
A new paint job can do wonders in improving your home’s appeal. A fresh coat of paint can transform a dull, washed-out interior space into a vibrant, welcoming living space. Painting is an excellent option for homeowners who want to redo their entire house without breaking the bank. Start by repainting rooms with odd and dated color schemes. A professional paint makeover can cost you anywhere between two and 8 dollars per square foot, depending on the color scheme desired. It’s advisable to go for neutral color schemes such as grey, crème, or ivory.
2. Make your home energy efficient
Realtors and prospective home buyers place significant emphasis on eco-friendly features when valuing a property. Today, there’s a great focus on environmental conservation and sustainability, hence making your home more energy-efficient. More importantly, having energy-efficient appliances will help cut down on utility bills and save more money in the future. Start by upgrading in-home appliances such as ovens, dishwashers, and Air conditioning equipment. Choose appliances with high energy star ratings to realize more value in the long term. If you have an HVAC system that runs continuously, you should consider installing a smart thermostat to regulate your day-to-day heating and cooling needs. Besides installing energy-saving equipment, you can also insulate your doors and windows.
3. Transform your outdoor spaces and backyard
Spruce up your backyard space to improve your family home’s curb appeal. A rejuvenated outdoor space will leave a good first impression on realtors and prospective buyers, putting you in a great position to earn a good return on investment. It’s time to clear out the clatter If your backyard looks cramped up and dull. Modest enhancements such as starting a backyard flower garden or introducing some outdoor furniture will boost your home’s value.
4. Renovate your pool area
Pools, hot tubs, and outdoor jacuzzi are dream features in any home. Including them in your family home will make your property stand out from other neighboring establishments. Even better, you can further improve your home’s market appeal by installing high-quality pool heating equipment, filters, and lighting. A properly fitted pool can boost a home’s value by up to twenty percent, making it a worthwhile inclusion. To get the best deal, it’s advisable to entrust your poor installation and repair projects to professionals with a proven industry track record. Pool experts can help with water chemical management, pool heater installation, filter maintenance, and stain prevention. Besides guaranteeing a quality finish, working with a professional pool repair expert ensures your pool meets county standards.
5. Spruce up your bathroom and kitchen areas
The kitchen and bathrooms are the first areas property valuers check out when appraising homes. They are also the rooms most susceptible to wear and tear as appliances, décor, and interior finishes fade out of style. These factors make kitchens and bathrooms the best places to start your home upgrade. Consider upgrading your kitchen countertop surfaces using durable and high-quality materials such as marble, granite, or natural stone. Rejuvenate your floor space using tiling designs that match your interior décor while making the kitchen easy to clean.
Remodel your bathroom by installing or replacing old cabinets with fine custom design cabinets. Consider replacing dated doorknobs, faucets, showerheads, and towel holders. Like your kitchen, consider upscaling your bathroom floor and countertops using high-quality tiles and materials.
Bonus tips
If you have an unfinished basement or rooms within your premises, consider renovating these spaces to increase the usable floor space, which is crucial when valuing a property. Look online for more tips on how to improve your home’s value.
