How to increase house value? Your home is one
of the largest assets you own, so you want its value to go up. Increasing your
house value is crucial if you wish to sell your house soon as part of your
financial plan or want to carry out improvement projects to benefit your
lifestyle. In today’s article, we will answer: how to increase
house value and generate higher returns on investments. Read on!
Add floor space to your home
If you have the land and want to add more
living space to your house, an extension is an excellent way to achieve your
goal. Because it is a significant home improvement project, make sure you
create a budget and consider the costs, including those that could crop up
Research shows that adding an extra floor can
increase your home value between 5% and 15%. Therefore, it is crucial to weigh
up your plans based on the market demands and other factors. That way, you can
achieve your goal and generate higher ROIs.
Install a new kitchen
Although kitchen renovation is an expensive
project, it is the focal point for many prospective buyers. A new kitchen is an
excellent way to increase your house value. You can install a new kitchen on a budget
or focus on the latest smart technology. In addition, the average cost of
updating appliances in your kitchen is $10,945. Although it is pretty costly,
you can add between 5% and 10% value to your home.
On the other hand, if you don’t want to spend
more money or perform a complete kitchen renovation, you update your kitchen
cabinets and paint the walls to give the existing space a new life. Moreover,
if your kitchen looks dated, new tiles and fresh paint can make it appear
modern. Thus, you can increase the chances of selling your home for a higher
Update your bathroom
Like the kitchen, updating your bathroom is
also an expensive project. However, a new bathroom suite can make your house
more attractive to prospective buyers, increasing your property’s value and
generate higher ROIs.
Depending on the fixtures you want to
install, updating your bathroom can add 6% to 11% value to your property. If
you already have a modern bathroom, you can add a second one to attract
families. That way, you add a selling to your listing.
Improve your Garden
Curb appeal makes a great first impression on
prospective buyers. Besides other improvement tasks to enhance curb appeal, we
recommend focusing on your garden maintenance. It can increase your home value
Outdoor spaces in houses have become more critical
due to the Covid-19 pandemic and especially during strict lockdowns. Remember,
spending time outdoor requires you to maintain your garden.
The purpose is to create a comfortable space
where you can relax and entertain. We recommend adding plants to your garden
and spruce it up by planting beautiful and colorful flowers to boost the curb
appeal and attract more prospective buyers.
Increase natural light
Natural light influences your rooms’ appeal
and attractiveness. Dark and gloomy living spaces are major deal breakers for
many prospective buyers. Install additional windows or make the existing ones larger
to increase natural light. Studies highlight that natural light can save 32% of
Hire HVAC services
How to increase house value? Although you can
carry out a wide range of projects to boost your home value and sell it for a
higher price, you can significantly increase your home value by hiring HVAC
services to perform the heating and cooling equipment maintenance.
Some reports show that installing a new HVAC
system by removing the old one can increase between 35% and 50% return on
investment. A new HVAC system can also attract more prospective buyers,
especially those willing to pay a higher price to buy your property.
However, if you don’t have enough money to purchase
system, you can hire HVAC services for maintenance. Remember, maintaining
your HVAC system can increase performance, lower energy consumption, maintain
indoor air quality, and prolong the system’s lifespan.
Selling your home for a higher price is a
daunting and time-consuming task. It involves various tasks, including home
improvement, finding and hiring a real estate agent, advertisement, etc.
Home improvement projects can increase your
home value and boost the likelihood of selling your house for a higher profit. How
to increase house value and generate higher returns on investments? Follow the
tips given above.