Increasing the value of your home has many benefits. Obviously, if you are planning on putting your home on the market next month, you will want to make your house more appealing to potential buyers. Even if you don't plan on selling any time soon, however, it can't hurt to put some time and resources into updating your home.
We all know how important first impressions are. Similar to how we know the importance of location. Your house may not be in the most desirable spot in town, but by adding a few extra elements, you can create a welcoming and fun outdoor experience that will add to your home's value and accentuate the positive features of the place you, at least for now, call home.
The reason I say 'basic' is because there's no need to spend thousands of dollars on immaculate shrubs, flower beds, and giraffe-shaped hedges. In fact, this could scare off potential buyers who are looking for a more low maintenance yard. Simply care for your lawn and adopt some new greenery.
Plant a tree
A shade tree can decrease cooling costs and mature into a beautiful, shady backyard spot. Be sure to figure out what type of tree is the best for the location you have in mind.
Low Maintenance Plants
Adding some easy to care for flowers and shrubs can vastly improve the look of your home. Check out plants that are native to your area so that they won't require a lot of water. If you have nice, big windows, you get the added bonus of enjoying your flowers and plants from inside.
Increase Curb Appeal
Speaking of first impressions... A simple way to increase the value of your home is to make exterior updates to your entrance and front yard. Add a new door, paint the garage door, get some potted plants, or create a nice area to sit. The options are truly limitless.
Fix Up the Old Shed
This is such a unique way to add a fun space to the property. You might already have an old, neglected (or filled to the brim with random tools) backyard shed. Clean it out, add some reclaimed windows and maybe even a porch, and you've got yourself a charming potential guestroom.
A Fresh Coat of Paint Goes a Long Way
Sometimes, it's the little things that make a big difference. Updating the color of a room can transform the look and feel of your home. A fresh color palette and coat of paint will make your house more appealing to buyers.
Keep in mind that most homeowners prefer paint in neutral tones. This will give them flexibility with the home's color scheme when adding their own interior design flair.
Add a Bathroom
A brand new bathroom is valuable to home buyers, and can update the appearance of your home's interior. In fact, an extra bathroom can increase a home's value by up to 20%! Of course this will depend on how much you spend on the room remodel, but if you are handy or thrifty, you can get an even higher return on investment.
You might be surprised to discover you have the perfect space to transform into a half or full bath. At least 18 square feet is needed for a half bath. Great places to turn into bathrooms include:
- laundry room
- larger walk-in or conjoined closets
- hallway space
- under the staircase
- part of a bedroom
Deck or Porch Enclosure Addition
Everyone enjoys relaxing outside with the family on the porch and eating dinner out on the deck in the summer. Get even more value from the addition by adding or converting an existing porch to an enclosed porch. This allows you (or your prospective buyer) to use the space all year long.
Convert an Existing Room
It's true that taking a room in your house and turning it into an extra bedroom or man cave can be an incredibly expensive project. But like all remodels, you can decrease costs by doing some of the work yourself and buying less expensive furnishings that still look great. It's a fun project particularly if you plan on living in the house for longer before selling it down the road, since you'll get to enjoy the result.
Ideas for converting unused spaces:
- Attic or space above the garage into a cozy bedroom or office
- Basement to finished living room, study, or man cave
- Garage to TV or rec room
Don't Forget to do Basic Upkeep
The most important way you can maintain and improve the value of your home is to simply keep up with basic good housekeeping tasks. These aren't difficult to do, but home buyers will notice if your home isn't well cared for. A few things that you can do:
- Clean mold from bathrooms and other places prone to moisture buildup
- Take care of gutters by removing debris
- Touch up chipping paint
- Clean window blinds
- Repair or replace damaged window and door screens
- Replace plumbing and electrical wiring
If you do the necessary upkeep, you shouldn't have any surprises, but it is always a good idea to have a professional inspect your home. This will help you assess the condition of your home before it goes out on the market.
Find Your Inspiration
After deciding what types of improvements you want to make to increase your home's value, it's time to dig around for inspiration! Below are excellent places to find examples and designs that speak to you:
All things that have to do with landscaping, home improvement, and interior design belong on the online community Houzz.
The place where maybe you already spend too much time. Pinterest is an excellent source of inspiration for most things, but definitely top on our list for home improvement ideas.
A third go-to place for information is a blog. Luckily, you don't have to snoop around the internet for the top home improvements blogs - we rounded up the best home remodeling and improvement blogs right here.
Now that you have all these ideas for your home, it's time to get moving! If you want to dream a bit bigger, check out our list of the top 10 priciest homes in Rhode Island.
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