Like most major investments, a home’s value can appreciate over time. Of course, whether it increases or decreases depends on certain factors, such as its location, current conditions of the local market, and other factors, some of which are out of your control.
For most homeowners, a house is likely their biggest asset, so making sure it’s in tip-top condition is always a good move. Making smart improvements and keeping up with maintenance and repairs are surefire ways to increase your home’s value over time.
Whether you’re looking to build equity or get the best offer once you put your home on the market, here are some effective ways to increase your home’s value:
Make it a low-maintenance home
Nowadays, many home buyers worry about purchasing a home that requires frequent maintenance. You may be able to remove any doubts they may have while also increasing your home’s value by replacing major components such as the water heater, HVAC system, or the roof before you put your home on the market.
You can also consider making improvements that can help make your home easier to clean and maintain. Replacing components like carpets with more maintenance-friendly materials like hardwood can increase both your home’s appeal and value.
Improve your home’s appearance
Great curb appeal always makes a great first impression. Your home’s exteriors need to look inviting to pique a prospective buyer’s interest. Make sure your landscaping looks neat and well-maintained. If you think it looks a little bit lackluster compared to neighboring homes, consider adding more plants and flowers, or giving your front door or garage door a fresh coat of paint.
For your interiors, try to prioritize your kitchen and bathrooms, especially if you’re on a tight budget. Outdated kitchens and bathrooms can keep your home from reaching its highest potential value.
Make your home more energy efficient
Adding features designed to improve energy efficiency can effectively boost a home’s value. Consider installing enhanced attic insulation, double-panel windows, LED lights, and other upgrades that can attract energy-conscious buyers. You can also replace some of your existing appliances with more energy efficient models.
If you have a sizable budget to work with, you can also consider installing solar panels on your roof. In a recent survey conducted by the National Association of Realtors, 39% of agents believe solar panels increase perception of a home’s value.
Expand its size
A home’s square footage has a significant impact on its value. It’s one of the main factors that can separate different homes with similar styles and features.
Larger homes typically command higher prices. Added space is something that can entice buyers, even if appraisers don’t necessarily acknowledge its value. Adding another room is one way you can increase space, but you can also consider creating an additional living space for your home by building an outdoor deck or finishing your basement.
Need in-depth information and up-to-date home values in Merced, CA? Work with the best Merced, CA real estate professionals today! Get in touch with us at Soldavi Realty today at 209.975.7653 or send an email to info(at)soldavi(dotted)com.