How to Maximise Your Home’s Value
Homeownership isn’t just the state of having a primary residence, but it’s an investment that can potentially pay dividends when building up equity and seeing the property rise in value over time. But, of course, the rate at which its monetary worth increases can hinge on specific factors, such as the community, housing demand, and the overall economy.
However, the actions of homeowners can also influence the value of their properties, like making changes and upgrades that elevate their appeal and justify higher selling prices. So whether you have a plan to sell your house or are looking for ways to grow your investment, there are proven steps that will help you achieve your goals. Here are some of them.
- Go green
These days, many homeowners are opting for energy-efficient upgrades, and for a good reason: not only does it help reduce their utility bills, but it lowers their carbon footprints too. In some cases, it even enables the opportunity to earn some money through tariffs from the production and use of renewable energy.
More importantly, these buyers will find these upgrades appealing because of the prospect of keeping their expenses down to a minimum. So if you’re looking for a way to maximise the value of your home, start by going green.
- Maximise your square footage
Maximising usable space makes sense practically and financially because real estate availability is limited, and large-scale renovations can be expensive. Since most residential properties are priced and valued by liveable space, it’s essential to maximise your square footage. For example, built in wardrobes can use your existing space better than bulky cabinets can. Using multi-purpose furniture can also save you valuable living space.
Additionally, you should consider transforming your basement into a room if it isn’t being used. Few homes have this feature, and adding a spare room can help set your listing apart when the time comes to sell.
- Add kerb appeal
They say that you shouldn’t judge a book by its cover. However, most buyers will decide whether to make a deal based on how the property looks from the outside. Some studies even show that it can potentially amount to seven per cent of its overall value. For this reason, you must add some kerb appeal to your home.
It doesn’t have to be an expensive or colossal undertaking either. Basic landscaping and a fresh new coat of paint to touch up the exterior can go a long way in getting prospective buyers through the door. If you have it in the budget, consider adding a front walkway with shrubs, mulching, and stone planters, as it’ll add even more appeal to your home.
A home is likely one of—if not the most significant investment you’ll make in this lifetime. As such, you must make the most out of it. So follow these tips because they’ll help you get the most out of your house when you decide to sell.
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