How Can You Increase Your Home Value?

Is it possible to increase home value beyond the standard equity appreciation? Absolutely. 

First it’s important to know your current home value.  You can find out your current home value in less than a minute HERE. Whether you plan to buy, sell, refinance or make home improvements, knowing the value of your home has several benefits. 

If you want more confidence that your home will be worth top dollar someday, take a look at these ideas on how to increase home value.

Add Beauty

If you do decide to dress up your home, which room should you remodel? Here are the most common rooms homeowners recently staged: Living room (93%), Kitchen (84%), Master bedroom (78%) and Dining room (72%). (NAR Realtor)

Let’s use your kitchen as an example.  A minor kitchen remodel can cost nearly $23,000 - this includes updating cabinets, countertops, flooring, sinks and appliances.  Kitchen projects tend to regain more than 80% of what was spent on the project, which means you might add more to your home’s value! 

If you don’t know what project to spend your money on, ask one of our real estate experts which features in your area are helping homes sell for more in your area!

Add More Space
Bigger homes tend to be more desired in a post COVID-19 world.  With more people tele-working, extra space is a must for some families.  So adding square feet can add real value! 

Take a look around. Could you knock out some walls and open up space? Is there any spot in your house where having a little extra space would make things a lot easier?  Just remember that home renovations tend to cost more than the resale value.  You just want to make sure the space you add to boost your home value is worth it to you, potential home buyers, and your budget! (Remodeling)

Add Energy Efficiency 

Energy efficiency is not the most exciting way to increase your home value but if it increases your home value...you should consider some of these environmentally friendly features.  In a recent survey, 70% of real estate professionals said that prompting energy efficiency in home listings was valuable. (NAR Realtor)

So which features should you focus on to build up your home value?  Recent homebuyers found these energy efficient features the most important: Heat and cooling costs (33%), Windows, doors and siding installations (29%), Energy-efficient lighting (23%), Energy-efficient appliances (21%), Landscaping for energy conservation (10%), Solar panels installed on home (3%). (NAR Realtor)

Add Updated Systems and Appliances 

You want to be able to ease buyer’s minds about home maintenance issues.  When you make sure all the systems and appliances in your home are up to date and fully functional, you do just that!  Take a look inside your home.  Does your air conditioner keep making a weird sound? Solve it.   If the hot water heater is super old, replace it.  Is the roof going to need to be repaired in the near future, budget for it!

These small updates can seem big in the present moment but the return on your investment can be worth it, when it comes to your home value.

Add Technology

Home buyers are getting more and more interested in buying homes with all the smart technology features.   In fact, a recent survey found out that homebuyers preferred to have smart home features preinstalled if they were to buy a home in the next year.  

The top smart features that home buyers are interested in are: smart thermostats, smart fire detectors, smart carbon monoxide detectors, smart cameras, smart locks, and smart lighting system.

Some of these projects can cost tens of thousands of dollars! You don’t have to break the bank with any of your updates.  Find one that works for you and your family!  If you don’t know what project to spend your money on, ask one of our real estate experts (417-812-5055) which features are helping homes sell for more in your area!

information from :::  https://www.ramseysolutions.com/real-estate/how-to-increase-home-value