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How to increase the value of your home?
The property market has been making new records across multiple fronts since the beginning of 2020, leaving house buyers conjecturing whether they should buy now or wait a bit more – in the hope that more homes will be put on the market for sale in 2022, and at affordable prices. However, according to a survey, around 65% of the USA homeowners believe that the value of their home will continue to rise, over the next 10 years. It may be an optimistic approach, considering the factors that determine what a house is worth such as location, an influx of foreign buyers, and imbalance between supply and demand.
A house is your biggest asset and being a smart homeowner you must consider it not just a place to live but the best way to create wealth through home equity. Thanks to the magical home appreciation and despite the COVID-induced global turmoil, we have observed an increase in the value of houses across the UK, USA, and UAE. In order to reap maximum benefits from your house in future, taking care of it must be your top priority. Do you know that keeping up with repairs and making smart home improvements can increase the value of your home over time?
In today’s blog, we will discuss some simple yet unconventional things that can increase the value of your home. Let’s leap!
Always add usable space…
“Square footage has a huge impact on the value of your home but bigger is necessarily not better in today’s market,” states Shahwali Bashir, Director Copperstones. “A strategic increase in the amount of living space can increase the value of your home. More flexibility in living space is one of the most desired features for homebuyers anywhere,” he stated further. Adding usable square foot can be paramount in sealing the deal.
Look around your house and see whether you can knock out some walls to make the lounge appear bigger and connect it with the kitchen. Can you think of adding a small bathroom in a corner that can make things easier for both you and guests? If you cannot comprehend the idea yourself, you can take help from the remodelling experts. Make sure that the space you are adding to your home is worth the time and money and come within budget.
Pro tip: Never leave a project unfinished. Always think before starting but you must complete it too. Only then, the value of your house will be more than the same types of other houses in your community.
Make your home energy efficient…
Accept it that you think energy efficiency is not the best way to increase the value of your home. Nowadays, no one wants to be in a home that is an energy hog. “An energy-efficient home” is on the list of top features that buyers look for, while buying a house. Moreover, lowering the energy cost will not just save you some bucks but can be an attractive selling point down the line. It does not mean that you should spend hundreds and thousands of pounds to make your home energy efficient but you can start with one thing at a time such as:
- Install a smart thermostat to improve efficiency
- Energy-efficient heating and cooling appliances
- Insulated windows
- Replacing older kitchen appliances with energy-efficient ones
Pro tip: We do not recommend you to replace every window in your home or replace every heat and cold appliance in your home all at once. You can begin with insulating the window, installing a smart thermostat or adding in energy-efficient kitchen appliances. Choose what comes in your budget and keep adding more from time to time. It will not just reduce the energy bill of your home but also do not add a hole in your pocket.
The kitchen is king…
Yes! Everywhere buyers focus the most on the kitchen. The kitchen is the central and most important feature of your home, if it is outdated and worn-out, it can affect how much you can make from the sale. A modern and updated kitchen topped out the list of ideal home features that buyers look for. However, if you cannot update your entire kitchen – a minor remodelling can still make a huge impact on the home’s value. Think of adding coordinating features and installing energy-efficient appliances.
Pro tip: If you cannot add professional-grade efficient appliances, an island or a multiple seating options, you can start with a suite of appliances, a new countertop, and new flooring for a fresh and more coordinated look. Applying a fresh coat of paint can do wonders both on the walls and cabinets.
Boost the curb appeal of your home…
How does your home look from the street? It is important to answer this question because the fate of several homes is decided when a buyer looks at it from the street and walk through the front door. It is your first chance to make a good impression that can urge a buyer to step in. Professional home staging does impact but do not take away from the upgraded interior of your home by neglecting your home’s exterior. A beautiful exterior and well-kept landscaping is a sure way to tell what you have done inside your home.
Nowadays, when everything revolves around technology, buyers will be impressed by the professionally-taken photographs of your home’s interior. However, they can be equally disappointed during the viewing, when they see that there will be no match between the exterior and interior of your home.
Pro tip: We do not recommend you to spend pound by pound on the exterior of your home to match the inside but to bring some resemblance, you must work on upgrading its curb appeal. Mow your lawn, apply a fresh coat of paint to the exterior walls, doors, and windows, remove the debris from the pathway, and add colourful plants that can be pleasing to both eyes and nose.
Conclusion
You may ask whether an appraiser will take notice of all these changes or not. Well, he may not. However, he will take notice of all these things and add positive remarks to the overall condition of your home, which can eventually add more to the home’s value. All that matters is how to make your home more desirable for the buyers, who are always willing to pay more for a property that pleases their eyes besides meeting their needs only.
If you are looking for professional property consultation, furnish, refurbish, interior design, and home staging services, feel free to contact Copperstones at +44 203 888 5555 or write us at enquiry(at)copperstones(dotted)net and one of our team members will be there to assist you.
Please submit your enquiry and a member of our team will get in touch with you soon.