As a savvy homeowner, you know that your house is not only a place to live but also one of the best ways to build wealth through home equity.
Therefore, knowing some incredible ways to boost your house’s resale value has always been important, but never more so than in 2023. That’s because mortgage rates and house prices are constantly rising, especially after the pandemic.
However, in today’s ever-changing and highly competitive real estate market, determining ways to make your house stand out for potential buyers is often overwhelming. But the process doesn’t have to be complex. All you need is to steer away from conventional home improvements that fail to add value to your house and instead consider the below-discussed renovation ideas that will help sell your house quickly and for the right price.
So, without further ado, let’s get started.
1. Freshen Up Your Bathrooms
Many experienced real estate agents would tell you that bathrooms are the spaces that sell homes. Yet, most homeowners often neglect this fact. Remember, remodeling your bathroom can help you gain 60% or even greater return on your overall investment, depending on your chosen finishes and budget. It is one of the best upgrades to boost the resale value of your house.
However, before approaching remodelers, ensure they’re trained and certified professionals with lifetime warranties or price-match guarantees. Hiring renowned experts like Home Concepts Custom Remodeling will prove worth your time and money. They’ve been leading the professional bathroom remodeling services market since 2014, offering personalized services at budget-friendly prices.
Hiring the best professionals for the job will ensure the best results and help you complete the remodeling project on time without draining your wallet. If you cannot afford a complete remodel, start with small changes. For instance, replace the outdated wallpaper with a textured/faux finish, change old lighting, or install a durable or stylish tub for a more modern appeal.
2. Add Updated Appliances and Systems
Another way to present your house as more valuable is to ease the buyer’s mind about common home maintenance issues. So, how do you do that? Well, all you need is to ensure that your home’s appliances and systems are fully functional and up to date. For this, take a look around your house. If you find the internal heating system making a clanking sound, solve it.
Similarly, if there’s a plumbing line leakage, fix it. If a roof has seen better days, replace it. If the water heater is over a decade old, get a new one. While these upgrades may seem a little expensive initially, they play a major role in increasing the resale value of your house. For instance, a midrange roofing replacement with asphalt shingles may cost around $29,000. But according to the stats, it can boost the resale value of your house by more than $17,000, i.e., over 60% return on your investment.
3. Increase Your House’s Square Footage Visually
We all know that the size of a house can dramatically affect its resale value. But most homeowners don’t understand that the square footage is not the only space that counts. How large a house feels, or its visual space also counts. The idea is to make every room in your home feel larger without adding more space.
Some of the easiest ways to visually increase the square footage of your house include replacing heavy draperies with shutters or vertical blinds to allow light. After all, a sunny room always looks more open and larger than a dark room.
Similarly, you can also try adding one large mirror to your room. This tactic helps in visually doubling the space. Or clear the unnecessary items or declutter the room. The more furniture, clutter, or plain old stuff you keep in a room, the more cramped it feels. One way to keep the clutter out of sight is by adding an attractive shelving unit in any underused space and storing the items there.
4. Add Some Color
Superficial changes indeed make a more lasting impression on buyers than intensive renovations. One of the most cost-effective and simplest improvements to increase the resale value of your house is paint. We all know how updated and clean a room looks when freshly painted—which spells value. You may have seen many real estate agents raving about the difference a good and fresh coat of paint can make especially considering the low cost of this upgrade.
However, before you go ahead, be mindful of paint colors. For instance, you must know that most home buyers prefer neutrals. A crisp, fresh paint job in modern neutrals like putty and gray can show off your house to the best advantage. So, choosing this color can present a more pleasant visual and make your house more desirable for potential buyers.
While it doesn’t mean you must avoid bright colors, just be aware that when you make bolder color choices, it may fail to please potential buyers.
5. Be Smart with Energy-Efficient Fixtures
You might be thinking that adding energy-efficient fixtures doesn’t seem promising in increasing the resale value of your house. But let’s face it. Environment-friendly and energy-saving enhancements are good for the planet, pocket, and your home. So, what top eco-friendly home improvements can you make?
Some of the smartest home improvements include installing energy-efficient appliances, lighting, doors, windows, and siding. You can also go for landscaping for energy conservation and get solar panels installed in your home. So, let’s say you upgrade ten windows in your home to be energy efficient and choose vinyl window replacement.
As per the stats, this will cost you around $20,000. But the value of your windows will help you earn more than 68% return on your overall cost, increasing your home value by more than $13000. You will also be able to save a significant amount of money on utility bills.
Selling a house is a great way to earn profit and grow equity. So, following the budget-friendly and simple home improvement tricks discussed above, you can instantly update and beautify your home. However, some home improvement methods may take more effort than others, and not every strategy is guaranteed to work in your situation.
So, while you look for different home improvement ideas, always choose the ones that make you more money and make the most sense for your situation.