A home is not just somewhere to live: it’s also a major investment.
Like any investment, the return you make can go up as well as down. But, by making some smart choices now, you make it a lot more likely that the long-term value of your home keeps on rising.
Here are five things you can do to increase the value of your home.
1. Regular maintenance
This is perhaps the most impactful way of improving the long-term value of your home. Because the general trend is for property prices to increase over time, if you keep your home at a good standard it will almost always rise in price.
Every time you notice a problem, get it fixed right away. It’s also worth inviting an expert to come and do a home inspection once a year to discover any problems ‘under the hood’.
2. Invest in your kitchen
The kitchen is the number one living space in most people’s homes. It’s not only where they cook, it’s where the majority of people eat, where kids do their homework and it is often where people watch TV. If you’re going to invest in expanding or improving any rooms in your home for resale, a smart-looking kitchen is going to give you the most bang for your buck.
3. Add new bedrooms
Adding a new bedroom to your home can instantly add thousands of dollars to the asking price. There are various ways you can do this – dividing existing bedrooms, doing an attic conversion or building an extension.
4. Utilize your garage
It has been reported that only 15% of U.S. garages are actually used to park an automobile. In the majority of cases, garages are treated as general storage space. It’s therefore worth investigating how you could reuse your garage when selling the home. If you’re targeting young professional buyers, could it be turned into a gym? Or for young families, would the space be better utilized as a children’s playroom?
5. New front door
First impressions count! A smart new front door with attractive brass furnishings and fresh paint tell visitors the home is safe, secure and solid. It’s the first – and last – thing people will see when visiting an open house or having a private viewing. So, invest in something smart and recoup the costs in no time.