If you’re looking to build equity in your home or trying to get top dollar when it’s time to sell, there are a number of things you can and should do to increase the value of your home. Just follow the useful tips below to get started.
Ever hear the expression, “location is key?” Well, that couldn’t be any more true than when it comes to your home’s value. According to an article published by the Daily Mail, homes located near large metro areas are higher in value. The reason is that they provide easy access to city life and resources.
But large metro areas aren’t the only places that increase a home’s value. Living near an army base or military facility will also increase the value of your home. A 2015 report conducted by Zillow showed that homes near an army base or military facility are generally valued 34.8 percent higher than the median U.S. home. And, homes located near the Marine Corps tend to be worth the most out of all military branches. That may be due to their proximity to the coastline.
9. Blue Bathrooms
Blue bathrooms may give you flashbacks to the 1970s, but the fact of the matter is, if you’ve got them in your home, they may actually increase your home’s sale value. According to Zillow’s 2017 Paint Color Analysis, homes with light blue bathrooms sold for nearly $6,000 more than initially expected.
On the other hand, some colors can actually deter potential homebuyers. For example, “homes with darker, more style-specific walls like terracotta dining rooms sold for $2,031 less than expected,” the report said. “A lack of color may have the biggest negative impact as homes with white bathrooms sold for an average of $4,035 below similar homes.”
8. Regular Maintenance and Repairs
Regular maintenance and repairs will show potential home buyers that your home hasn’t been neglected. This is true even when it comes to the most minor repairs. So, do yourself a favor: walk through your home and make a list of all the things that are in need of repair. If you can handle the repairs yourself, then do so. If not, call in a professional. The last thing you want to do is turn those minor repairs into major problems that will cost you much more in the long run.
If you’re looking to sell your home, one of the first things you should do is make sure it’s clean. “A bright and sparkly home can attract buyers like a magnet,” HGTV says on its website. And, it’s true. I mean, think about it. Would you buy a slightly dirty home or would you choose the one next door that’s clean and inviting?
But, it’s not just dirt, dust, and mold that you need to be concerned about. You need to get rid of the clutter as well. A kitchen table that can’t even be seen because it’s covered with mail is a turn-off as well.
6. Not Having Popcorn Ceilings
Okay, so you’re probably saying to yourself, “What the heck are popcorn ceilings? I’ve never seen anything like that before?” You probably have but just didn’t know what they were. Popcorn ceilings are those textured ceilings that look like cottage cheese. While this textured look was popular through the mid-20th century, today they, “significantly date a home and look like a giant, messy project to potential buyers,” interior designer Emily Finch told Realtor.com.
Don’t worry if you do have popcorn ceilings in your home. They’re actually quite easy to remove. All you need to do is go to your local hardware store, pick up a solution to soften the texture, and scrape the popcorn away. Beware, though: some of these ceilings, because they’re likely old, can contain asbestos, which can be potentially threatening to your health.
5. Smart Technologies
It’s important to note that smart technologies may not necessarily increase a home’s value, but they do increase its appeal, especially when it comes to installing safety-enhancing devices like security cameras, door locks, lighting, fire detectors, carbon monoxide detectors, and thermostats. The average person may not care much about these things, but those who consider themselves to be “techies” will certainly appreciate them, and in turn, will be likely to pay far more for a home that has them.
4. Home Inspections
Potential homebuyers are encouraged to hire a home inspector prior to signing any papers. They are also encouraged to do their own inspections and ask the homeowner if there are any problems. Wouldn’t it be nice if you could tell them that you not only hired a certified home inspector to check things over but that you actually have the paperwork to prove it? Even if you’re not thinking of selling your home right now, home inspections are still valuable. “Think of it like a physical that will only keep your home healthy… If you get a clean bill of health, it helps you make decisions. You can pick your home projects and spend your money with confidence,” HGTV says on its website.
3. Curb Appeal
“Landscaping is probably the best and easiest, most affordable way to increase your home value in the first year,” Des Moines-based realtor Sara Hopkins told Forbes. That being said, there are a number of things you can do to add curb appeal to your home, such as planting young shrubs and native trees and replacing annual plants or flowers with perennial foliage. Not only do these things make your home look nice, but they also help reduce energy costs — if they are strategically planted, that is. Plus, they even raise the value of neighboring homes. It’s a win-win situation for everyone!
2. A Black Front Door
According to Zillow’s 2018 Paint Color Analysis, having a black front door can increase your home’s value by about $6,271! “For a seller, painting a front door is one the least expensive home prep projects, but also one that can have a powerful impact on a home’s sale price,” Kerrie Kelly, Zillow home design expert, said in a press release posted on the company’s website. “While cool, neutral wall colors like tan and light blue are still popular, we’re seeing a notable shift in home design where pops of color – particularly in darker hues of blue and gray to even black — are becoming increasingly popular.”
FYI, if you have a north-facing door, painting it black will bring you good luck, according to feng shui principles.
1. Adequate Lighting
Believe it or not, adequate lighting can increase the value of your home. According to DIY Network, a bright, well-lit room not only makes you feel more cheerful but, “it also makes spaces feel larger and cleaner. A well-lit room also shows that you have nothing to hide, so should you decide to sell, prospective buyers will feel at ease when touring your home.”
TIP: DIY Network recommends hiring an electrician to add recessed lights to a dim kitchen, family room, formal dining room, or living room.
Now that you know what you can do to increase the value of your home, make sure you avoid these home renovations that decrease the value of your home.