The housing market can be a volatile industry. For the last several years, many sellers have been accepting offers tens of thousands of dollars above their original asking price. Buyers are seeing an extremely competitive market and getting into massive bidding wars with the low stock of houses that are available.
Although the market is benefitting sellers right now, there is no telling when this trend will start to equalize. If you are not ready to sell your house now but want to in the future while still making a decent profit, it is important that you invest in raising the resale value.
Home improvement is one way that you can level up the value of the house. This could take the form of interior renovations, new additions, landscaping changes, or any other project that makes a living in that house more enjoyable. If you want to improve your home’s resale value, here are a few jumping-off points to get you started.
1. Upgrade your garage door
Curb appeal can be a determining factor in the successful sale of your home, and catching the eye of potential buyers is critical to making it stand out from the rest. In terms of exterior features, the garage door is often one of the largest and most noticeable to passersby. Instead of wasting this big opportunity, consider making an aesthetic upgrade so that the garage door pops.
You could achieve a farmhouse look with your garage that causes buyers to stop and look twice at a patterned door or barn theme. A fresh coat of paint that complements the rest of the exterior will also draw more attention to the home. This feature takes up a lot of space in the house, so use it wisely.
2. Consider modern appliances
The things that smart appliances can do are mind-blowing. You can control many household systems from apps on your phone with the new technologies that are available.
A refrigerator that tells you everything that is in stock on your phone so you can shop effectively. An oven that you can start to preheat before you arrive home. A thermostat that you can set up from anywhere in the world where you can access the internet. These appliances make life more convenient and will therefore raise the value of your home as cool, new features to entice buyers.
3. Update the security
Many people have experienced break-ins, and it can be a traumatic experience knowing that you and your family could be vulnerable to strangers in your own home. Improving the security measures of your property can allay many of those fears and soothe the concerns of potential buyers.
Simple updates like a smart security system, new locks that you can control from your phone, alarms, and timers on lights can make a big difference in the appeal of your home to those seeking peace of mind. Investing in your security will raise the value of the property.
4. Increase the amount of natural lighting
Natural lighting is a growing necessity for many potential buyers. As the workforce continues to shift towards more individuals working from home, the need for as much natural light as possible to create warmer spaces is rising.
There are more health benefits, both mentally and physically, for those who are exposed to more natural light during the day, so ensuring that your home has ample amounts of sunlight pouring in can draw in more buyers and raise the value. Installing bigger windows, skylights on the roof, or even adding some large mirrors to reflect more light from the windows can all boost the amount of natural light in your home.
5. Design a home office space
As mentioned above, more workers are doing their jobs remotely than ever before. For this reason, dedicated office space in the home is very appealing for many homebuyers. If you don’t have a room like this yet, changing one to fulfill this need could make the difference in whether or not a buyer is interested.
This should be a room that is separated from the more public spaces and has a door that can close. Generous natural lighting would benefit it as well, along with a convenient setup for a desk and office equipment. The quieter the space can feel, the better it is for the worker. How you stage the space for pictures will show off its benefits as an office when you start the selling process. Set aside a room for the remote worker, and the value of your home will increase as a result of this popular trend.
6. You get out what you put in
If you make no updates to your home between the time that you bought it and the time you will sell it, then you are unlikely to make a large profit from the sale. A home is an investment, and you can raise its value by putting in the work to make upgrades that buyers are looking for. The more projects you undertake to raise the value, the more likely you are to get a financial boost when the time comes to sell.
Choosing to make changes not only affects the resale value but can also bring you a sense of pride and comfort in your home while you still live there. Find a project that you are excited about and get started on improving your home’s value.