Increasing the Resale Value of a Home
US home sales are down due to low supply and high prices. But homeowners can still prepare for the next housing boom by renovating or improving their homes to increase their resale value. People who own more than one home can improve their second or thirdhome toget a higher value for it if they plan to sell it.
Here are the things that they can do to increase the resale value of their home.
Work on the Curb Appeal
The first thing that homeowners can work on is the curb appeal of their property. Since it is the first thing that potential buyers will see, it’s a good idea to make the home look great from the street. Enhancing the home’s curb appeal can increase its marketability, especially when the buyers see a well-trimmed front yard.
Homeowners can look for reliable landscape and lawn companies to enhance the curb appeal of the property. These companies have the equipment and experience to make the home stand out in the neighborhood.
They can also add plans on the lawn or install a walkway leading to the front door. Shrubs and stone planters can also make the home look impressive when a potential buyer passes through the street in front of the house.
Update the Kitchen
The kitchen is one of the places that buyers check when before they buy a house. Its features can have a significant effect on the price of the house. An outdated kitchen will not help bring the price up. Similarly, if the homeowner does not fully utilize the space in the kitchen, it can turn off some buyers who pay much for a well-designed kitchen.
So, homeowners should work on updating their kitchen and renovate it, if possible. This can increase the resale value of the home. They can install color-coordinated cabinets and appliances, dual or triple sinks, under-cabinet lighting, and ceramic or laminate counters.
Enhance the Health Features of the Home
The current pandemic highlighted the importance of staying healthy to avoid succumbing to the virus. With this in mind, homeowners can enhance the health features that their house offers. This is particularly important with the emergence of new variants of the virus.
The homeowner can improve the filtration systemof the house by using pleated filters instead of the regular ones. They can also install air cleaners in different areas of the house, particularly in the living room, dining room, and kitchen. Installing an exhaust fan in the kitchen and bathroom is also recommended.
Additionally, the homeowner can also install a carbon monoxide monitor to detect the presence of this dangerous gas. A water filtration system also ensures the household has a supply of clean water all the time.
Give it a Fresh Coat of Paint
Giving the house a fresh coat of paint can also make it stand out, especially if it has been a long time since the homeowner painted the interior and exterior of the house. They can use neutral colors so the house will look appealing to a wide range ofhomebuyers.
Neutral shades of blue on the interior can add value to the kitchen and bathroom. They should avoid white since it can reduce the value of the house. Earthy tones are also good color options to increase the overall appeal of the home.
Increase its Energy Efficiency
An energy-efficient home is appealing forhomebuyerswho do not want to spend too much on electric bills. So, homeowners should increase the energy efficiency of the house. They can install solar panels on the roof to provide power to the house without relying on the electric company.
Homeowners can also install cool roofsto keep the home cool during the summer. They can also install energy-efficient appliances and water heaters. Sealing any gaps under the windows, doors, basement, attic, and crawl spaces can also help reduce cooling bills for the summer.
Homeowners can also replace the windows with lowemissivityor low-E models to reduce the amount of infrared and ultraviolet light passing through the glass without affecting the entry of visible light into the home.
The homeowner can also replace standard light bulbs with Light-emitting diodes(LEDs). These bulbs use less energy than standard incandescent light bulbs and can last longer. Installing a smart thermostat is also a good way for the homeowner to control heating expenses during winter. The device can reduce the temperature of rooms where nobody is there and increase it once someone enters the room.
Increasing the resale value of a home requires a good amount of investment. But it also allows homeowners to sell their houses at a higher price than others in the neighborhood.