Today we’re looking at 5 ways to increase the value of your home.
The housing market has been a sellers market for the past couple of months.
Homes that were bought 10 years ago for $140k are now worth upwards of $210k.
Consequently, there has been an uptick in home remodels.
People are looking to remodel their homes for multiple reasons
- They want to sell their homes for top dollar, but recognize their homes need major updating
- Due to high interest rates, homeowners want to stay in their homes but endure a remodel to modernize their space
- Homeowners want to turn their paid off property into real estate investments to earn a profit
Whatever the reason, updating your home and simultaneously forcing appreciation is always a great way to improve your quality of life.
Related: 5 Ways to Incorporate Board & Batten into Your Home
Let’s look at 5 ways you can increase your home’s value.
1. Open Concept Floor Plan
Open Concept layouts usually connect the living room, kitchen, and dining room.
They allow for family togetherness in the main areas of the home.
Older homes feature closed concept layouts where the kitchen is completely sectioned off from the rest of the home.
Even though some homeowners and buyers have an affinity for closed concept layouts, open concept floor plans are highly sought after and drastically increase the value of the home.
If your kitchen is sectioned off, it would be a great idea to hire an interior designer who can design a plan for the space that would transform the flow of the space while maintaining functionality.
2. Remodel the Kitchen
The kitchen is the heart of the home where everyone gathers.
It sets the tone for the entire home and is the main space buyers look at.
By simply updating this space, you can dramatically increase the value of your home.
Functionality and modernization is the best way to approach a kitchen remodel.
Workflow, cabinetry and storage space, backsplash, countertop material and color, hardware, plumbing, and flooring are all things that can be changed and made to look beautiful while maintaining functionality.
If it’s dated, be bold with the remodel.
3. Remodel Restrooms
Restrooms are one of the spaces we spend the most time in and are naturally a major selling point.
One of the biggest ways to increase the value of your home is to remodel your restrooms.
Appraisers look for walk in showers, custom built-in cabinetry, updated fixtures, functionality, and storage space.
By updating these features, you will automatically be forcing appreciation in your home and making your living experience that much better.
4. Update Light Fixtures & Switches
Updating your light fixtures can be an inexpensive way to increase the value of your home.
We see a lot of what I call, “nipple lights” installed into builder grade homes with basic, low cost switches.
Home Improvement Stores like Home Depot have beautiful and affordable light fixtures and modern light switches.
Updating these features is a must when wanting to increase the value of a home.
5. Update Flooring
Updating your flooring not only increases the value of your home but it makes your home more appealing to buyers and guests.
Carpets are common in older homes. Some people might like carpet in the bedroom, and this is where creativity comes into play. An oversized rug is a great way to keep the carpet feel in the space without devaluing the home.
Tile, hardwood, and engineered wood are popular, beautiful options.
Working with an interior designer to ensure that the flooring throughout the entire home compliments and elevates the space would be a wise decision.
Whether you’re selling, renting, or living in your home, remodeling main spaces is the best way to force appreciation and increase its value.
Thank you for stopping by.
See you soon!
Kendra S.
