Homeownership is exciting and a long-term investment. Doing projects to increase the market value of your home will benefit you while you’re living there as well as when you go to sell the house.
The market value of a home is how much it would sell for under normal economic conditions. Market value is how much a property is really worth, versus market price is how much a buyer is willing to pay for it. Therefore, raising the market value of your home while you own it is crucial to help increase how much you will be able to sell it for. Here are the top five easy ways to raise the market value of your home that you can do by yourself.
Refreshing the landscaping in the front and back yards is a great way to increase the value of your home as well as add to the curb appeal. You don’t need to create an entirely new look but instead clean up the old plants and trees, install new plants and flowers, and clean up the grass or consider other options like artificial turf that doesn’t require watering. A little bit of landscaping can go a long way.
For the interior of the home, painting is a fast and easy way to change the entire aesthetic. If you need a drastic update to your house without doing major renovations, changing the paint color of the walls is a low-cost project that you can do yourself. This is also a great option if you’re about to sell your home so that the paint is as fresh-looking as possible.
An energy-efficient home is a quality that buyers are looking for. Choose energy-efficient appliances, LED light bulbs, and replacing insulation which lowers your utility bills. You can also opt for installing energy-efficient fixtures such as a ceiling fan which helps cut down on air conditioning costs.
Choose Minimalistic Designs
Create the illusion of more square footage in your home by choosing a minimalistic design aesthetic. Start by decluttering your home to get rid of old or outdated belongings. Then update one room at a time to your new minimalistic style such as replacing old furniture with updated minimalist styles, getting rid of excessive decorations and artwork, and clearing the floors of any loose objects. More items in a home will naturally make it look smaller, so creating an open feeling through a minimalistic aesthetic is ideal if you don’t want to renovate the house to add actual square footage.
If you have old or worn carpets, replacing them with new carpets, wood or tile flooring will drastically increase the value of your home. This is especially important if you are a new empty-nester and no longer have children in the house so that your carpets can be brand new again. Unless you’re handy, you may need to professionally do this but the increased market value will be worth it.
Increasing the market value of a home can seem like a big task, but it can be broken up into small projects. Don’t feel like you need to do all the work at once. Instead, pick only a few upgrades to do every year so that you’ll have increased the overall market value of your home by the time you go to sell it.