4 Home Improvement ideas You Can Take on To Increase The Value Of Your Home

When it comes to real estate, then the value of your house is everything. While some things that affect its value that you can’t influence, such as the location or even the spending power of that market, there are a couple of things that you can take on to significantly raise the value of your home. If you are looking to sell your house sometime in the future, these are not such expensive things that you can start doing now, so that you can get a better deal whenever you are ready to sell.

  1. Make It More Appealing: How does your home look from across the street? Are potential buyers going to want to take a second look? Invest in a fresh coat of paint to make it look appealing. Freshly painted homes have a way of looking attractive to the eye, and that’s where the value comes in. You can also look at getting rid of old carpets and long-standing odors and allergens.
  2. Do Some Landscaping: Plant bushes and shade trees around your premises if you can—they help make a place look more desirable, plus you can reduce cooling costs too. If trees look like too much work, get low maintenance shrubs and colorful plants around—make sure you ask for drought resistant ones so that you spend less on water and maintenance. You should also clean up your lawn and any other overgrown bushes you have around your property. If you can’t spare the time, hire a lawn service company to do it.
  3. Make It Bigger: It’s pretty obvious, the bigger your house, the more valuable it is. You can add a room to it or build a top deck. Buyers always notice things like that. Square footage isn’t all that matters, increase the visual footage too, so it looks bigger to the eye. Use blinds to allow light in, since a sunny room looks more substantial. Clear the clutter and all the old junk you don’t need any longer too.
  4. Make It More Energy Efficient: An energy efficient home will not only save you money now, but it will also make it more attractive to buyers in the future. Consider using air sealing and insulation improvements, or LED lighting and double-paned windows as they can make it check all the boxes for energy-conscious buyers.

If you’re not sure what will make the most impact on the value of your home, check with your local real estate specialist.

Planning for A Home Appraisal

The home appraisal is the process of re-evaluating or revaluing your property to determine the market value either because you want to put the house up for sale or because you want to refinance your mortgage. When you put up your property for sale, you want to have it appraised by a professional as this will give you a fair idea of how much your property is worth.

Financial institutions giving out loans order a home appraisal to ensure the value of the house they are taking as collateral is equal or more than the amount they are providing as a loan. The evaluation helps lenders to avoid losing money if they decide to sell off the property due to failure by the borrower to pay up at the specified time, also known as foreclosure. A certified professional handles a home appraisal and usually has years of training and experience. After the assessment, the expert is expected to give an unbiased opinion about the value of your property. Some things would present your house in a better light and impact on how valuable your property is.

Fix All Damaged Safety Equipment

Ensure all safety equipment that is not working is fixed before the day of appraisal, as lack of these would make you lose points during the inspection. Ensure safety equipment like smoke alarms, security alarms, water heater straps among others are present and functional in your property.

Document Your Renovations

Inform your home appraiser of recent renovations you may have done on the property, the time when you did them and the cost of such repairs. The appraiser might not notice all the changes since it’s not their house, which is why you should bring it to their notice.

A Little Touch Up

Houses with cracked walls, a leaking roof, water-stained walls, signs of pest infestation, damaged floors, or moldy smell will get valued at a lesser amount. Repaint your walls, replace your leaking roof, fix any broken kitchen cabinet, change the doorknobs and generally improve on the appearance of your property. Also, take a walk around and assess the visual appeal yourself to know the things that need fixing ahead of time.

The $500 Rule

Appraisers value property in $500 increments. To be assessed at a higher amount, it’s better to have things like broken doors, damaged floors, old wallpaper, leaky faucets, broken windows repaired immediately. By doing this, you will recover the amount you spent on such repairs in your home appraisal report.

Check Your Yard

You want to take a walk outside your property and do a thorough scan of what might devalue your property, and have it fixed before the home appraiser arrives. Keep your grass and shrubs neat, add some colorful flowers, remove dried leaves littering the yard and whatever clutter will make your yard less attractive. Houses with a welcoming curb appeal receive better appraisals and are considered more valuable in the market.

Your seller’s agent can help you prepare for your appraisal so heed their advice.