How to Increase Your US Property Value
Are you deciding which projects on your renovation to-do list are worth pursuing? If you’re basing this decision on the option that will best increase your property value, then you’re going to want to hear what we have to say. By the end of this article, you’ll be one step closer to picking the best option.
Some initial thoughts in determining how to raise your property value.
It’s important that you first consider other homes in your neighborhood. Each neighborhood has standards of different features that homeowners expect and others that are treated as luxuries. You’ll also want to consider the needs of different people in your area and what particular aspects of a home and its surrounding area are important to them. The reason for taking a moment to consider this is based on the fact that if your house is deemed to be over upgraded in certain ways, then you may not receive the valuation it deserves. That would mean doing all of that work for less than it’s worth. Who has the time and money for that anyway?
Here are some of the top ways to increase your property value.
Read through our list of some of the top ways to increase your property value to help you decide on your next renovation project.
Create a rentable unit. One tip to increase your property value is to turn some part of your home into a rentable unit if needed. This could include a basement unit that has its own kitchen and bathroom. Even if you don’t rent it out yourself, this serves as a benefit to some potential buyers.
Behold the kitchen. It is said that the most important room in the valuation of a home is the kitchen. That being said, having a fresh, modern, stainless steel appliance kitchen will go a long way in the valuation of your home. If yours is outdated, improvements to this area will serve a significant benefit.
Bathrooms cannot be forgotten. Bathrooms are considered to be the next most important rooms in the home, with particular emphasis on the number of full bathrooms (i.e., shower, bath, sink and toilet). Keep your bathrooms fresh and have as many full bathrooms as possible – so long as it is within reason relative to the size of the house.
Standing on nice flooring. The flooring of your home is also said to play a significant role in the value of your property. Thus, installing new hardwood floors, for example, will improve the value of your home.
Energy efficiency is key. Improvements to energy efficiency are always welcomed since it is good for the planet and will help to save on utilities.
Open concept. Making your home seem more spacious and open is a good way to increase square footage, as well as your overall property value. Homeowners love open concepts nowadays, so give them what they want.
Eye sore repairs. If there are any other repairs that a potential homeowner would see and question, then you should definitely take care of those too. These add up so it’s best to tackle them as they come to your attention.
Regular maintenance. Keeping up with regular maintenance and cleaning will also go a long way toward maintaining your property value. This means attending to your landscaping needs and fixing anything as it comes to your attention.
Structural repairs. You can always hire an inspector to point out any major concerns in the foundation of the home. It’s better to discover them now than when you are in the midst of a deal. You’ll be shaking your head if the dollar amount on the table suffers as a result of the hidden discovery.
So there you have it, if you’re planning your next renovation or looking to sell your home and can’t decide what needs fixing most, you can use this list to prioritize your activities.
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