7 Tips to Increase Your Home’s Value with Minimal Efforts
What Can You Do to Increase Your Home’s Value?
The value of a home is determined by several factors, such as the location, market demand, available amenities, etc. But, homeowners can also increase their home’s value by making upgrades over time that increase its appeal and ensure higher returns. Whether you plan to sell your home in the near future or simply benefit from capital appreciation of your home investment, here are some tips you can follow to increase the value of your home.
1. De-clutter and clean each room
Before you put your house on sale, a little deep cleaning can go a long way as it improves the overall appearance, functionality and projected value of the property. A house that looks neat and presentable will create a desirable impression on potential renters and buyers.
Go through each room and identify items that you no longer use, require, or love. Classify them into categories, such as keep, sell, donate, or discard that will simplify the de-cluttering task. Once you have decluttered everything, arrange the remaining items in a systematic way.
Also, consider doing a deep cleaning of each room, including floors, surfaces, windows and fixtures. Make sure you thoroughly clean the bathroom and kitchen area as those are the areas that can impact the buyer’s decision.
2. Apply a fresh coat of paint
One of the most cost-efficient and simplest home improvements of all is applying a fresh coat of paint. Freshly painted exteriors and interiors can make your home look clean and updated, and give the impression that it has been maintained and cared for properly.
The exterior of the home is the first thing that potential renters or buyers will see, so make sure you repaint walls, doors and shutters to make a positive first impression. On the interior, prefer using neutral or light-coloured paints that make your rooms look bigger, brighter and more inviting.
Applying new paint is a cost-efficient way to hide minor imperfections, such as small dents, cracks or stains on the walls, which may disappoint potential buyers and renters.
3. Install new energy-efficient lighting
Installing energy-efficient fixtures can bring savings while you live there as well as offer more appeal to potential buyers when it is time to sell your home. Most renters and buyers are interested in buying a home that is low on maintenance and utility costs.
Energy-efficient lighting, particularly LED lights will not only reduce your utility bills, but they also contribute to environmental sustainability. They produce less heat and enhance the aesthetic appeal of your home.
The combination of reducing utility costs, environmental benefits, improved aesthetic appeal and lower maintenance expenses collectively increase the perceived value of your property and buyers may be willing to offer more for energy-efficient features that offer long-term savings.
4. Invest in smart home security
Smart home security systems come with advanced features, such as remote access, real-time monitoring and customisable alerts. These affordable systems allow you to control and monitor your home security using smartphones or tablets.
With smart home security, you can lock and unlock doors, view live camera feeds, arm and disarm alarm systems and control overall home security. This can help prevent vandalism, burglaries and other threats, giving homeowners peace of mind.
Investing in smart security technology not only secures your property while you continue to live, but also increases the projected value of the property, especially for buyers and renters who are concerned about home security.
5. Renovations and upgrades
Renovations and upgrades can significantly improve your house’s value by enhancing its aesthetics and functionality, which may appeal to potential buyers. Undertaking renovations, such as updating outdated bathrooms, kitchens, flooring and fixtures can enhance the visual appeal of your house.
You can also consider making structural changes, such as extending a room, or converting an attic. This may sound like a costly affair, but you can use bridging loan for residential in London to cover the renovation costs, and repay the loan when your home is sold.
Updated and well-maintained homes tend to attract buyers and sell faster at higher prices compared to other properties in the area, which are old and outdated.
6. Pay careful attention to the kitchen and bathroom
Prospective buyers and renters pay special attention to the bathroom and kitchen during a property visit. The kitchen is considered the heart of any home. It is the space where the whole family sits together, eats their meals and spends time.
When your kitchen walls and tiles look stained, it may diminish the buyer’s interest. Likewise, a shabby, dirty and broken bathroom can also immediately turn off a potential buyer. Such high-traffic areas need to be thoroughly and regularly cleaned.
In many cases, a bathroom or kitchen remodel can offer a significant return on your investment. And, that number can go even higher based on the finishes you choose. Altogether, kitchen and bathroom renovations are the best way to boost your house value to easily bridging finance solution in London.
7. Transform your unused spaces
Transforming unused spaces into functional, appealing areas can significantly improve its overall value. Basements, attics and underutilised rooms can be converted into usable living spaces that increase the total square footage of your home.
Transforming unused areas into entertainment spaces, such as game rooms, theatres or outdoor living spaces also enhances the lifestyle of the occupants. These amenities add to the overall value of your home, specifically for buyers looking for entertainment features.
You can create an additional source of income by transforming unused spaces into rental units. Renting out these units can help you cover the mortgage payments, which can also work as a great selling point. Overall, a well-executed transformation of unused spaces can add substantial value to your home’s worth to development finance in London.
Final Thoughts
Selling a home can be a great way to earn a considerable profit if you take good care of the property as your equity grows. With these budget-friendly and easy tips to update and beautify your home, you can effectively increase your property’s value and maximise profits.
