When property is left without renovations and upgrades, its value is bound to decrease. This is why it is important to make home improvements and renovations whenever possible. A homeowner’s survey by Chubb in 2018 in the U.S discovered that 58% of homeowners are most likely to renovate their homes in a year. 65% of property owners who plan to renovate their homes plan to spend up to $10,000, 20% might spend between $10,000 – 40,000 and the remaining 15% can spend more than that. It is important to note that when making home renovations, always pay close attention to the market value as this will determine the kind of project you need to undertake in order to add the value of your home and give it a fair chance to compete in the current market, explains MTD Management. Here are a few ways in which you can add value to your home.
During the first year of property ownership, landscaping is one of the easiest yet cheap ways of adding value to your home. Having flowers, nicely trimmed shrubs, hedges, and lawns is one of the best ways to get your home fetch goo money in the market. Planting trees especially native trees also helps to cut down the cost of energy by almost 50%. Landscaping projects will also make your home look more inviting, serene, and beautiful. Well-manicured lawns and hedges are a huge natural addition to any property.
2. Kitchen and Bathrooms Upgrades
One of the most affected rooms in the change of design and technology is the kitchen and bathrooms. You will find that what looked trendy in the previous year is no longer considered trendy and it has been taken over by yet another change.
Kitchens and bathrooms are high traffic areas, making them prone to instant wear and tear. This is yet another reason why you should keep them in tip-top shape and trend. Studies have shown that a big percentage of homeowners take up bathroom and kitchen upgrades in the first years of ownership.
3. Window Replacement
Windows define a home. This is because with the right kind of windows you will not only have a well-lit room, but they also tend to make a room seem bigger than it really is. Double glazed windows, for example, adds to the value of the home while also meeting the building regulations.
Always use a professional when replacing your windows so as to get the right ratios, proportions, and sizes. Huge windows not only add value to the home but also add to its ambiance.
4. Maximize on The Kerb Appeal
They say that first impressions count and the same is true when it comes to home improvements and adding the value of the property. You want to make sure that your home is inviting especially if you are putting it on the market. Some of the ways in which you can improve on the exterior appearance of your home include:
- Repainting exteriors walls
- Adding a porch
- Removing any stone cladding
- Repainting doors and windows
- Replace or upgrade to roller doors Melbourne
- Putting up a house sign or number
- Repointing brickwork
- Adding some climbing plants
The cost of adding value to your home does not necessarily have to be expensive. However, it is important to note that for as much as you can do by yourself, it is advisable that you leave the work professionals so that you can get value for your money and also only the best improvement that you need.