Remodeling and renovation are often approached with hesitation because of their staggering cost. Even those who love DIY projects and home improvements may not have a lot of time on their hands to create a more enjoyable living space. However, it is still essential to take a good long look at your home and consider updating. A simple decluttering changes the general appeal of your home. If that’s not reason enough, you should know that home improvement projects will most likely increase the appraised value of your property.
One way of maximizing your financial security is to treat your home as if you are planning to sell it one day. Real estate is a competitive market in California and home prices are still rising in Orange County, San Jose, San Diego, and San Francisco. There are many things to consider if you want your house to provide an excellent financial return in the future. We’ve rounded up 10 of the most important factors that will create a positive impact on your home’s value.
Perform Necessary Fixes
Replacing outdated fixtures, worn out sidings, windows, and other hardware doesn’t cost much, but it will sure hike up the value of your home. Decluttering, organizing, and removing unnecessary items in your rooms will create more space and impart a stress-free living environment that appeals to most buyers.
You should fix structural issues (e.g., drywall cracks, leaky roof, and sticking doors) before they get worse and become too costly to repair. Leaks from faucets can destroy the cosmetic finishing of your kitchens and bathrooms as well.
A Well-maintained Landscape and Exterior make a Great First Impression.
Right from the curb or driveway, one can quickly judge if your home is worth living in. You can ignore curb appeal and leave unkempt shrubs and plants in your yard if you want to drive prospective buyers away. If the exterior of your property is not well-maintained, you are giving an impression that the rest of your home is just as messy.
Plant small plants or neutral flowers around the border of your backyard to highlight its size and dimension–overgrown shrubs hide these features, so cut them regularly. A spruced up front yard makes a big difference and adds value to your home.
Upgrade your Flooring.
What’s under your feet is as important as your walls. Real estate experts and brokers recommend spending on a floor upgrade if you want a return in value as high as 100% of what you’ve spent. Hardwood is always a good choice, and make sure the color and design of your floor complement the theme of the room. If you’re on a limited budget, choose engineered flooring made of plywood with a thin veneer of real wood on top. They last fairly well and don’t cost as much.
Don’t Underestimate a Fresh Coat of Paint.
Newly-painted exteriors and living areas make the biggest impact on any home. If you can’t afford to paint the whole house, prioritize the kitchen and living room to make it look fresh and appear well taken care of. To save more on repainting exteriors, only paint faded areas and watermarks. Choose paint with neutral colors such as white, off-white, and creamy beige.
A Bathroom Remodel Increases Your Home’s Resale Value.
Regarding home improvements, a lot of people think it’s wise to ignore their bathrooms when there are more visual parts of the house that require updating. Because of this, the bathroom is often the most outdated part of one’s home. An upgraded bathroom gives you an edge and can easily drive your home’s value higher. If you have money to spend, strive to impress picky buyers with an elegant, well-designed bathroom and stylish installations–let that whirlpool tub do the talking.
Make Your Home Energy-Efficient.
The perceived hefty price tag of going green tends to scare most homeowners. Truth be told, solar panels and energy-efficient appliances don’t come cheap. That is if you don’t consider the money you’ll be saving each month from lower utility bills. Either way, making your home energy-efficient doesn’t only mean buying expensive appliances and installing solar systems. One example is replacing lightbulbs with LEDs. LEDs will increase the value of your home because they last a long time and consume less electricity. Installing a new heating or air conditioning system can increase your savings up to 80%. Not only that, nine out of 10 buyers prefer houses with green efficiency and lower utility bills than those that cost 2% to 3% less.
Add an Additional Living Space or Creative Storage.
A new room or bathroom can surely increase the price of your property because it gives your home additional space for another dweller. You can turn your basement or large storage areas collecting dust into a rental space or additional room. Younger buyers are looking for an office space where they can work from home, as well as a separate laundry area and a gym room.
Don’t Neglect Your Kitchen.
The kitchen is still the queen (or king) of the house. An impressive kitchen is difficult to ignore. Remodeling your kitchen is one of the best ways of increasing your home’s value, even if you only make a simple design update or change your cabinet hardware. You can slowly make changes that your budget allows, such as replacing your faucet and lighting fixtures for a few hundred dollars. Repaint cabinets with minimal signs of usage to make them look new without spending a lot.
Replace Entry Doors and Garage Doors.
Your entryways and garage doors can also make use of a healthy makeover. An overhang above the front door is an excellent addition to this area. It will protect you from rain and the sun’s scorching heat while you’re fumbling for your keys. Even a boring front yard can be quite eye-catching if you have a secure steel door with faux finishing. Look for cheaper ways of painting your basic metal doors with stain and paint if you can’t afford to replace your door.
Put that Green Thumb to Good Use.
A greener exterior promotes a cleaner and a more relaxing ambiance. Frequent developments in Orange County make stunning greenery such a rarity. While most people look for neighborhoods near entertainment spots and busy strips, some prefer houses in a quiet and calmer surroundings. Make sure your trees and bushes are well-maintained and are not obscuring the view of your exterior.