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How to Increase the Value of Your Home

Facade of a single-family house with palm trees

When selling a home, you want to maximize its value — it’s only natural. And a home that is well-maintained and updated can fetch a higher price on the market, and it can also be more attractive to potential buyers. But how do you increase the value of your home?

Luckily, there are many ways to add value to your home, and the right approach will depend on your specific circumstances and goals. Some options may be more feasible and cost-effective than others, so it’s vital to do some research and prioritize your efforts.

With that in mind, we’ll explore a range of strategies for making your home more valuable on the real estate market. From making necessary repairs and updates to maximizing storage space and enhancing curb appeal, we’ll cover a range of tactics to help you get the most out of your home.

But before we dive into the specifics, let’s talk about why it’s crucial to increase the value of your home.

There are several benefits to increasing the value of your home besides a higher sale price:

  • Better loan terms: If you’re considering taking out a mortgage or refinancing your current loan, the value of your home will be a critical factor in determining the terms of the loan. A higher value can translate into better loan terms, such as a lower interest rate or a larger loan amount.
  • More equity: As the value of your home increases, so does your equity. Equity is the difference between the value of your home and the amount you still owe on your mortgage. If you have a lot of equity, you can use it to finance home improvements, pay off other debts, or invest in other assets.

So now that we’ve covered the benefits of increasing the value of your home, let’s move on to some specific ways to make it happen.

Start With The Necessary Fixes And Updates

If you want your home to be priced at its best, you must ensure it’s in superb condition before putting it on the market. And that means making any necessary repairs and updates. This can include fixing structural issues, such as leaky roofs or faulty foundations, and updating appliances and finishes.

Structural issues can be major red flags for potential buyers, as they can be costly to fix and may indicate underlying problems with the home. By addressing these issues upfront, you can increase the value of your home and make it more attractive.

Updating appliances and finishes can also add value to your home. Replacing old or outdated appliances with newer, more energy-efficient models will give your home a competitive edge because new homeowners can use them to save money on energy costs in the long run. Similarly, updating finishes like countertops, backsplashes, and flooring can give your home a modern look.

Increase Available Storage Space

Everyone appreciates having more room for their possessions — let’s face it, most of us keep much more stuff than we really need to. That’s why another way to increase the value of your home is to maximize storage space. This can be especially appealing to potential buyers looking for a home with ample storage space to keep their belongings organized and clutter-free.

There are a few ways to add storage space to your home:

  • Add built-in storage: Built-in storage, such as bookshelves, cabinets, and drawers, can make the most of underutilized spaces and add value to your home. Consider adding built-in storage to areas like the living room, bedroom, or home office.
  • Utilize underutilized spaces: Look for opportunities to add storage to underutilized spaces, such as the space under the stairs or above a closet. Adding shelving or cabinets to these spaces can provide extra storage without wasting valuable floor space.
  • Get creative with storage solutions: Think outside the box when it comes to storage solutions. Stuff like storage ottomans, baskets, and bins can add extra storage to living areas. Also, consider installing over-the-door organizers in bedrooms and bathrooms.

 Children's room

Add A High-End Nursery 

Many people looking to buy a house plan on having children or already have a child on the way. With that in mind, adding a high-end nursery can be a great way to increase the value of your home. It’s a highly desirable feature for many family-oriented buyers, as it demonstrates that the home is suitable for a family with young children.

If you’re designing such a high-end nursery, here are a few things to consider:

  • Choose a calm and neutral color palette: Soft, neutral colors are soothing for babies and will be more appealing to potential buyers. Avoid bold or bright colors, which may be less universally appealing.
  • Invest in quality furniture: Choose durable, well-made furniture for the nursery. A solid wood crib and changing table will be more durable and have a higher resale value than cheaper particleboard alternatives.
  • Add thoughtful touches: Little details can make a big difference in a nursery. Consider adding a cozy rug, throw pillows, or wall art to add personality and warmth to the space.

Increase Value Through Landscaping

Landscaping can be a powerful tool for increasing the value of your home. By enhancing your home’s curb appeal, you can make a great first impression on potential buyers and make your open house the talk of the town.

If you want to harness the power of landscaping to raise your home’s eventual price, here are a few tips:

Focus on curb appeal: First impressions count, and the exterior of your home is the first thing potential buyers will see. Consider adding colorful flowers, trimmed hedges, and well-maintained lawns to boost curb appeal.

Add outdoor living spaces: Outdoor living spaces, such as patios, decks, and outdoor kitchens, can be a major selling point for potential buyers. These spaces can provide additional living and entertaining space and can be a great way to increase the value of your home.

Incorporate low-maintenance plants: Choosing low-maintenance plants for your landscaping can be a smart move — many buyers who want to spend less time and effort maintaining their yard will appreciate them. Drought-resistant and perennial plants, as well as native species, are often low-maintenance options that make your home easier to maintain and, hence, more attractive.

Make The House More Energy-Efficient

We’ve already mentioned how using newer appliances can increase your home’s energy efficiency — and now it’s time to discuss this particular tactic in broader terms. Energy efficiency is a growing concern for many homeowners and can also be a key factor for potential buyers. By making your home more energy-efficient, you can reduce energy costs, improve the comfort of your home, and increase its value.

Here are a few ways you can do that:

  • Upgrade windows and insulation: Old, drafty windows and inadequate insulation can be significant sources of energy loss. Upgrading these components can help to seal in heat and air conditioning, reducing energy costs and increasing the value of your home.
  • Add energy-efficient appliances: As mentioned above, replacing old, inefficient appliances with newer, Energy Star-certified models can save homeowners from significant energy costs. These appliances can also be a selling point for potential buyers, as they can save money on energy bills in the long run.
  • Invest in renewable energy: Renewable energy sources, such as solar panels or geothermal systems, can reduce energy costs and increase the value of your home. While the upfront costs for these systems can be high, they can pay for themselves over time, which is why most potential buyers appreciate them.