Affordable Ways to Increase Your Home's Value
If your home is over 10 or 15 years old, chances are good that it could use a couple of touch-ups. From freshening up the interior paint and choosing a new front door color to adding solar panels and a smart thermostat, the options to upgrade your home and increase its value are nearly endless.
Where to start?
Hiring a local expert real estate company is the smartest way to navigate the market and get the information you need before making any changes to your property. Your agent should run a Comparative Market Analysis (CMA) so you can see what the comparable homes in your area are worth. They’ll be able to advise you about the specific changes your home needs and what the return on investment will be so you can make intelligent decisions.
So, what are the upgrades and updates you should make to increase your home’s value?
1. Smart Upgrades
Whether you intend to sell in a few months or a few years –– or if you just want to increase your property’s value –– if you’re making upgrades, make sure they have longevity and aren’t too trendy. Smart upgrades, like more efficient washers, dryers, and dishwashers, will increase your value and decrease your monthly expenses at the same time.
Solar panels will also save you money in the long run (and they’re great for the environment). Smart-technology door locks, cameras, thermostats, and smoke detectors are smaller, less expensive upgrades that will also add to your property value.
2. Curb Appeal
They say, “Don’t judge a book by its cover,” but when it comes to houses, you can be pretty sure that if the outside is a mess, the inside will be too. Give your front door a fresh coat of paint, pressure wash the driveway, and sweep off the front porch. Keep your yard simple and clean –– mow the lawn regularly, get rid of weeds, trim the bushes, and plant flowers. If you don’t like yard work, consider hiring a lawn care crew to handle the outdoor chores.
3. Bigger is Better
With more people working from home, families need more space. Finish the basement, repurpose wasted space, and add a kitchen island. As families grow, they need more space.
Whether there are more kids, or the kids are just getting bigger and need more room, creating more space is invaluable. Coat closets, shoe storage, a bigger pantry, extra cabinets, and more bathroom drawers are all ways to expand your home and make it more usable and valuable. If you have a backyard, add a deck or covered patio for additional space for family time.
Time to Get Started
After checking out the homes around you, researching what others are looking for, and thinking about what you need, get to work. Be creative and make your home useful for yourself, but don’t forget to keep the future in mind. You may want to sell one day, and any changes you make ought to be transferable to the next owners if you want your property value to go up and stay up.
Alissa Cassidy is a writer who lives in the Atlanta area. She's a mom to three boys, a football coach's wife, a grad student, and an amateur photographer. When she's not writing or studying, she enjoys working out, listening to music, and watching true crime stories.