While purchasing your first home is a major life achievement, it is also an investment in your financial future. Regular mortgage payments help to raise the overall value of your house, but investing in home renovation and some technological upgrades while keeping in mind certain rules may significantly increase house market value should you consider to sell or rent it in the future. Read about five simple ways to increase your home value.
Invest in Energy Efficient Home Features
Energy efficiency and sustainable technologies are gradually becoming more and more important when considering the purchase of a new home. Keep in mind that your house needs to both use energy efficient technologies, but also be optimized to minimize the energy losses; for example, good insulation to preserve heat. Consider double-paned windows, enhanced attic insulation, LED lighting, and efficient appliances as options to increase home value and entice energy-conscious buyers. Apart from that, you may consider an upgrade to a smart thermostat; apart from energy efficiency, it also saves you money every month on your utility bill as long as you live in the home.
Focus on Your Bathroom and Kitchen
Bathrooms and kitchens are the first places in your home potential buyers and tenants pay attention to. They often also require the heaviest investment in terms of budget so it is a good idea to start your renovation planning from these two rooms. In order to make your bathroom and kitchen renovations most efficient, take in consideration the latest trends in bathroom and kitchen design as these become outdated quite quickly. A good idea is to invest in classic or minimalist design styles, as these never go out of fashion, and high-quality materials. For bathrooms, these can be high-quality tiles or mosaic borders; for kitchens, countertops and nicely designed kitchen backsplashes. For example, consider combining tiles with mosaic art.
Add a Fresh Layer of Paint
The daily usage of different spaces in the house over the years leave its marks on different surfaces, especially on the walls. While some spots may look less worn out, it is still a good idea to perform a DIY paint job. It carries a low cost of materials but offers a great return on investment, adding an instant charm and fresh look to your home.
Invest in Exterior Looks
First impressions last forever, and how your house looks from the street is one of the decisive factors for future buyers. Check the paint on the walls, the state of windows and doors, and pay attention to front garden landscaping. Make sure your house doesn’t look dull compared to your neighbors: Put your garden in order and consider adding some plants and flowers for a more vivid, fresh look.
Make Your House Safer
As reported in a 2018 survey by Coldwell Banker, various safety-enhancing gadgets top the list of “smart” technologies buyers want in their new homes. Such devices include fire and carbon monoxide detectors, security cameras, door locks, and others. Such technologies usually don’t involve huge investment, but definitely increase the appeal of the home, especially for tech-savvy potential buyers.