When it comes to value, houses, buildings, and other real estate property could also be subject to depreciation, just like other commodities that people use, such as cars and even shoes. However, the value of a real estate property could still increase or decrease depending on several factors, such as location, type of the property, the property’s age, and the materials it was built on. That being said, homeowners could increase their house’s value if they wish to sell it to someone else or rent it to tourists. Stacked shares some tips on how to increase the value of your home.
Add physical space to your home or make your home look more spacious.
Every homeowner or renter wishes to get a house or apartment that has an ample amount of space. The more room a home has the more amenities it could accommodate, and the more things a homeowner or renter could do, which adds to a home’s attractiveness and worth. If you cannot add physical space to your home through construction and extensive renovation, Stacked says that you can finish your basement or open up your floor plan by knocking the right walls on your home.
Enhance the exterior and curb appeal of your home
First impressions always last, and this is true for every home as well. Improving your home’s curb appeal adds to its attractiveness to potential buyers or renters and therefore adds value to your house. A home with an attractive landscape creates an impression that a home is well-maintained, and this is a positive outlook for a lot of homeowners and renters. Even most real estate agents agree that improving your home’s curb appeal could enhance its marketability. For this, Stacked recommends you to maintain your front lawn well, add a stone veneer in your home’s exterior, upgrading your door to a steel one, improve the paint of your house’s walls, and even replace the door of your garage, especially if it is already old.
Consider upgrades that add style for key rooms.
Aside from the house’s exterior, another thing that buyers or renters will look for when inspecting your home is the state of your bathrooms and kitchen. These are two rooms that a family or an individual will spend a lot of time in if they are inside the house, and therefore you should consider putting your upgrades for your kitchen and bathroom to increase your home’s market value.
However, Stacked advises that you do not need to completely demolish your existing bathroom or kitchen to create a new one that will attract prospective buyers or homeowners. Stacked recommends focusing on minor details in these rooms, such as choosing neutral and light colors for your paint, do a little remodel for your bathroom or kitchen, install hardwood floors or refinish ones that you already have, and replace the fixtures in your kitchen and bathroom, such as doorknobs and faucets.
Buy upgrades for your home that will reduce maintenance hassles.
If you own a more than 10 to 15 years old home, chances are your property would need to get some major repairs. If these repairs are neglected, it will put off any potential buyer or renter. Therefore, Stacked recommends you to redo the roof on your house, check the sidings of your home, and even consider getting upgrades for your air-conditioning system.
There are many ways to increase the value of a home, such as adding upgrades that could make your home more efficient and cater to a specific demographic or area. Nevertheless, Stacked believes that doing minor retouches in your home is certainly worth it since this could go a long way in increasing the market value of your home.