When you purchase a home, it's an investment. You may continue to live in it for many years to come, but if you leave the area you'll more than likely sell the property. Here are five ways that you can increase your home's value in order to get a better price if or when you decide to sell:
- Renovate. If you're like most, you probably haven't really thought about your countertops or cabinetry for several years. Cabinet re-facing offers a way for home owners to redecorate their kitchen for less money. The new look changes the entire dynamic of the kitchen. Hardwood floors are more appealing to buyers than linoleum. A more efficient heating and cooling system saves on energy bills all year round. For many, gas logs are a better option than a traditional fireplace and eliminate the messy clean-up of firewood. There are a number of ways that you can renovate your home without spending more money than you can actually afford.
- Replace the windows. If you have an old house, the windows are probably single pane. Triple-pained windows are more energy-efficient and also look better. Windows that offer the convenience of panes that fold in are easy to clean, even on upper floors.
- Add a room to your home. Any addition that increases the square footage of living space will add to a home's value. But don't let the idea cause your head to spin with dollar signs; this undertaking could be as simple as converting a garage into an additional bedroom or office. People who work from home would typically love the idea of a complete home office. A new sunroom where that replaces a back patio will allow buyers to enjoy the outdoors – even on a cold day.
- Put up a fence. Fenced-in yards provide privacy for homeowners. If they have pets, the animals can run around in the back yard without concerning the owners about escaping and bothering the neighbors. And, a fenced yard is a must if you have a pool or are thinking of installing one. No one wants a neighborhood child to accidentally – and perhaps tragically – gain access to their pool.
- Landscape the yard. The one thing that makes one yard different from another is its landscaping. Take a ride through your neighborhood during the spring to see the newest additions that the residents have made to their yards. Some add shrubs or trees. Others may install water features. The look of a home's yard is a big selling point. It can add significantly to the buyer's perceived value of the property. The ambiance of peace, seclusion and quiet created by a carefully tailored yard – complete with fountain, gazebo and walkway – could be just the scene to draw offers in. Many people want these things for their homes but often lack the money or the skills to have them done.
A real estate agent can suggest more creative ideas for improving the value of your home. However, be careful not to change everything. Some features are fine just as they, and altering them may simply drive prospective buyers away.
