Our home is probably the biggest investment you will ever have to make. It’s an investment because, while it’s the place you live, it’s also somewhere that you hope will increase in market value over time. So, when it comes time to sell, you’ll be able to see a profit which you can either save or put towards a bigger or better next home.
This means that anything that you can do to increase the market value of the property has to be a good idea – and all of these additions are sure to have an effect.
A New Garage
If you’re lucky you will already have a garage, even if it’s used more for storage than as a place to park your car. If you don’t currently have one it’s relatively easy to add a steel garage on your driveway, a move that could add the approximate cost of installing it to the value of your home.
The Kitchen Glow-up
They say that the heart of the home is the kitchen. Because many home buyers pay more attention to this than any other room it makes sense to show it off to its very best advantage. Fitting a new kitchen adds around 10% to most homes’ market value but this is an admittedly expensive and disruptive exercise. A cheaper solution can be to change things cosmetically, perhaps by fitting new doors to cupboards along with shiny, new handles. New worktops are also a relatively easy and cost-effective move that can have a big visual effect.
Maximize the Space
Another way to increase the value of your home is to increase the useable floor area. After all, the square footage is one of the calculations that will go into any market valuation. If there’s a loft area, then converting this to be a further bedroom could add 20% to the value. Another solution could be to knock through ground floor walls to create open plan spaces. Even though this doesn’t change the size of the area, it’s perceived to be bigger.
Increase the Energy Efficiency
More and more, people are looking for homes that are cheaper to heat and which have minimal environmental impact. In practical terms you could start by making sure that your home is as well-insulated as possible. While this won’t necessarily increase the market value of your home, changing the way that you light and heat it will. Simply by adding solar panels can boost the value by 15% or more. And if you are also able to switch to heating by a ground or air source heat pump this could increase it even more.
Give it Some Curb Appeal
It’s claimed that the first eight seconds of looking at a house are when one decides whether they like it or not. That’s why it’s always going to pay to have a neat front lawn and a welcoming look to a home. So, keeping the area free from clutter like abandoned bikes and trash cans is essential. It won’t actually add to the market value of your home. But a good first impression is more likely to prevent a would-be buyer from immediately thinking the property is priced too high.
Décor Counts Too
The same principle applies once they get through the front door. A home that is tidy and well-presented is always going to sell more easily and at the right price. It’s just a question of looking at the little details like painting over scuff marks on the walls. And if there are stains on carpets or couches you just can’t shift then strategically placed rugs and throws will hide them from view.
There are other ways that some claim will sway a would-be purchaser including having the smell of baking bread or freshly brewed coffee wafting through the home. Whether these make a difference is very much debatable.
But with the other suggestions given here, you’ll definitely be on the right track to increase your home’s market value.
