Making Home Improvements Can Increase the Value of Your Home
Is your goal to give your home that much needed facelift? Are you making improvements to increase its value so you can sell it? Either way, making some changes can increase your home’s value.
Clean and De-clutter
You can help boost the value of your home by decreasing the amount of “stuff” that’s in it. Cleaning and de-cluttering are inexpensive tasks, even if you own a larger home. Even if you hire someone to help you clean and de-clutter your home, the benefits are many. You’ll live in a healthier environment, you’ll probably enjoy your space a lot more, and it will increase the value of the home.
You don’t even have to hire someone if you are willing to use a little elbow grease. Go through cabinets and closets and make donation piles. Clean out drawers and storage areas. Don’t keep anything you don’t need or want. If you haven’t used it in a year, or didn’t even know it was there, chances are it can go.
Add a Room for More Square Footage
Adding square footage to your existing home can make a lot of sense. It’s especially true in areas with limited available real estate. Homes are valued and priced by their livable square feet- the more livable square feet, the better. Adding a bathroom or a great room can increase function and add value. Adding a separate mother-in-law suite can also be a smart idea because most homes do not have this feature. So, adding one sets you apart from the competition when it is time to sell. Adding a laundry room or another bedroom can increase the value of your home.
Make Your Home More Energy Efficient
Now, when utility bills are soaring, it makes sense to take on a project that can lower utility bills. This is also a smart way to increase the value of your home. Install a smart thermostat. If your A/C unit is over 10 years old it may be time to upgrade to a more efficient one. Replacing old windows or re-sealing your existing windows will also save energy and lower your utility bill. Even little things can help like replacing incandescent lighting with LED bulbs and installing low flow showerheads.
Give Your Home a Fresh Coat of Paint
One of the most popular home improvement projects in 2022 is painting or wallpapering, according to Angi. A fresh coat of paint can make even outdated exteriors and interiors look fresh and new, and it’s not that expensive, either.
You may want to re-paint rooms with an “odd” color, or remove old, discolored and outdated wallpaper with a fresh coat of neutral paint.
Improve Your Curb Appeal
Here are some ideas that will make your curb appeal pop! Power wash your driveway, wash the windows. Give the exterior a new coat of paint, and clean up the landscaping, refresh the mulch, cut the grass, and add some colorful flowers.
Upgrade Exterior Doors
Replacing an old front door can work wonders! So can replacing or refreshing an old garage door. The front of the home is the first thing you see. Doors often take up the most amount of space on the front of your home. Replacing the front door and/or garage door with, say a… rustic wood door will dramatically improve your home’s appearance and value.
Update Your Kitchen
It is said that the kitchen can make or break the sale of a home since many buyers zero in on the kitchen as the central feature of a home. If yours is outdated, it can ultimately affect how much you profit from the sale of your home. If you can’t utilize your kitchen fully because of the way it’s laid out, or because of lack of space or other concerns, updating is the way to go. This project can potentially cost a lot of money. However, the reward will be the significant increase in the value of your home.
Stage your home
If you’re planning to list your home for sale, consider all or some of the home improvements above. You can also use a home staging service. 73% of staged homes sold for over list price — an average of $40,000 higher — and staged homes move off the market nine days faster than the average, according to the Real Estate Staging Association. Staging costs just over $1,600 on average, according to HomeAdvisor, but the cost varies based on your needs and the home.
Here are some interesting home improvement statistics:
- Homeowners spent an average of $10,300 on home improvements in 2021, a 25% increase from the year previous. (source; Angi)
- Homeowners who completed work did an average of almost 4 projects, with an average cost per project of $2,800. (source; Angi)
- Increasing a home’s value ranked as the 2nd most important goal for home improvement spending, behind fixing existing issues. (source; Angi)
- The top 5 value adding projects in 2022 are the refinishing of hardwood floors, installing new wood floors, updating the insulation, and refurbishing closets, (source; National Association of Realtors (NAR) and the National Association of the Remodeling Industry).
- 71% of homeowners with upcoming renovations plan to move forward with the projects despite supply chain and inflation challenges, according to a January 2022 survey from Nationwide.
If you’ve been thinking about selling your home in Southwest Florida, and are ready to move forward, give us a call. There are lots of choices out there, but we are the Logical Choice. We can help you sell your home faster, with less stress and for more money. We sell ANY home… from lovely to ugly. Contact us today to get started.
