Most families invest in a home with the intention of selling it for an increased value one day. However, this isn’t always a promised result. In order to make a profit off of selling your home, it’s important to know how to increase its market value.
Taking care of your property and making improvements is the best way to ensure that your home’s worth will continue to grow. Here are some of the best ways to raise your family home’s equity.
As a general rule of thumb, the more square footage your home has the higher its value. By expanding your homes square footage, your buyers will see more value.
Something as simple as adding a room or building a deck can have a huge impact on your home’s appeal.
Give It Curb Appeal
Curb appeal is how your home looks from the outside. A house may be lovely on the inside, but if the outside isn’t attractive, then prospective buyers may not even walk in the front door.
Your home’s exterior should be updated and well-maintained. Repaint anything that’s looking weathered, and landscape your yard. Updating your outdoor structures will make your home look more current.
After you’ve increased your home’s exterior appeal, you can move onto updating the inside.
Update Your Kitchen And Bathroom
An outdated kitchen and bathroom will instantly bring down your value. Serious buyers want to walk in and see that these two rooms, in particular, are updated. That’s not to say that you have to install marble finishes that put you out thousands, either.
A basic remodel like new flooring and fixtures can deliver a considerable increase on the return of your investment.
Make It User-Friendly
People want to move in knowing that they won’t have to make any emergency repairs anytime soon. You should replace any old furnaces or water heaters. By advertising new elements like these, you’ll be able to ask for a higher price.
Features that require less work and maintenance will also appeal to potential buyers. Things like vinyl flooring make cleaning messes much easier than carpeting or hardwood.
Make It Energy Efficient
If you live somewhere which has periods of extreme hot or cold, your energy features will play a big role in your home’s value. You should consider updating insulation or installing energy efficient heating.
If this isn’t something you’re familiar with, you can consult with an energy auditor who can guide you through the best choices.
Your family home will likely be looked at by other families looking to raise their children. Adding safety features like gates and barriers will appeal to families with small children. Safety features such as these are not very expensive to implement.