Expert Advice On How To Add Value
To Your Home By Enhancement
Home Improvement helps add value to your home.
- Although, home renovations and remodelling can initially add to the cost but in the long run it will lead to an overall increased home value.
- Here is a free guide on how to add value to your home.
You’re ready to make some changes to your home, or maybe you’re looking to put your house on the market and increase home value.
When the work is done, you want to make sure you get an offer that exceeds the price you paid for house when you bought it. After all, ideally your home is more than a place to live. If you play your cards right, it will be one of the biggest investments you make.
Follow this expert advice on how to add value to your home by enhancement to get the best house value for your efforts. While these improvements will initially cost you something, in the long run your return will far outweigh what you have spent as you value your house by making it irresistible to potential buyers.
Step back and take another look
When you live in your home day after day, you forget to value your house as you become accustomed to its comfort and may not notice areas that could be improved. It’s time to step back and take another look. Forget that you live there for a moment, and go outside. Then, walk into your home as if it’s the first time you’ve ever seen it. Put yourself in the shoes of a home buyer and take note of what your impression of the overall home value would be if this was a house you were considering buying.
To increase house value, any changes you make should fit with what potential buyers are looking for.
Make changes accordingly. If you can only afford to make a few changes, focus on creating a couple of wow factor features, such as adding on a wooden deck, revamping the master bedroom, upgrading the kitchen, or adding natural light and bringing the outside in with glass bi-fold doors or new windows
Additional enhancements that build character include restoring or replacing old fireplaces, outdated stair banisters, cabinet doors, installing wood flooring, or creating extra storage space.
Repair trouble spots
Before any redecorating or cosmetic changes can begin, you will need to fix problems that go beyond the surface.
You may be able to hide or distract the potential buyer from discovering the root of the problem, but structural problems aren’t going to go unnoticed by the home inspector who will value your house. For instance, are there leaky pipes or roof, bowing walls, rotten joists or roof timbers, an insect infestation, a crack in the structure or foundation, plumbing, or electrical issues?
It’s time to tackle them head on and learn how to add value to your home. Other defects such as paint that is peeling, doors or windows that squeak or stick, door latches that don’t work, foul smells, plaster cracks, or mold, will also need to be addressed.
Easy fixes and cosmetics
Buyers tend to want a move-in ready space, so any touches you can do to make your home desirable will add home value quickly.
Look at your home, and plan a home design that is functional and desirable to a potential buyer.
The first most important thing you can do is declutter by getting rid of any unsightly items and clearing out the space of unnecessary or bulky furniture.
The next important step is to paint with neutral tones, clean your windows, trim the bushes, mow the lawn and focus on curb appeal, and then spruce up your front door with a new door, new coat of paint, or a new doorknob.
Now, it’s time to focus on the flooring. At the very least, have carpets cleaned, vinyl floors polished, and wood floors waxed.
If it’s not already equipped with central air or heating, now is a great time to add it. However, if it’s not feasible to add central heating, make the most of what you already have by sealing drafts around windows and doors or adding insulation to a loft space.
Finally, to add house value make plans to focus on any remodelling of your existing space, which may include redesigning the floor plan if it can be done under budget and is feasible to the overall value of the home.
Focus on the rooms that add the most home value
The three main things buyers look for in a home is the quality and space of the kitchen, the number and quality of bedrooms and bathrooms.
Every extra bedroom tends to add at least 10% to the home value.
However, focusing on improving the kitchen or the bathroom is usually a good choice. If you are going to make improvements to only one room, choose the kitchen. At very least, make sure both the kitchen and bathroom are clean and fresh looking with plenty of light, and make sure at least one bathroom has a shower and that there is at least one bathroom for every three bedrooms along with a master en suite.
If a complete renovation is out of the question, even just updating counter tops or cabinetry can add significant value to your home.
To increase home value, look around your existing home for unused space and make note of space where you can expand.
One desirable spot is turning attic space into a loft bedroom, playroom, or office area.
The main thing to look for when considering converting a loft is whether or not there is easy access to move up, since you will need to add a staircase, and that it seamlessly blends into the rest of the flow of the house when it’s complete.
The priciest part of a loft conversion is probably going to be spent on making sure the floor joists are strong and that there is plenty of head room in the upper space.
One commonly overlooked area of the house that holds great potential is the basement.
Extend your living space downward to add a potential family room, game room, laundry area, an extra bathroom, or even a mother-in-law suite complete with a small kitchen or wet bar, bathroom and place to sleep. Of course, this is assuming you already have an unfinished basement to frame. If you don’t have a
basement, it may be possible to dig beneath the foundation to create a lower level, but this is going to be quite costly.
Move the car
If you have ample parking space off of the street, turn your garage into livable space where you can easily add a bedroom, and maybe even a bathroom or bedroom with an en suite.
Chances are, you’re not parking your car inside the garage now anyway, so why not turn it into a new room to add value to your home.
Just be sure to first get all of the necessary permits, and double check with the real estate agent as to what is able to be legitimately listed as a room.
Extending your walls, and building an extension is a sure-fire method of how to add value to your home.
Of course, it is also one of the more costly options and will require that you consult with experts to learn the ten things you need to know about house extension planning and secure the proper building permits.
It’s also a good idea to make sure your neighbours are on board with the idea and that the extension will not infringe upon their natural lighting or property lines.
Once you have all of the legalities taken care of, the next step is designing the extension to flow naturally with the architecture of the rest of the house so it doesn’t look patched onto the back of the house and will ultimately add home value.