5 Ways to Increase a Home’s Value
If you are selling your home, increasing its value is probably your top priority. Even if you do not want to sell, increasing your home’s value has tons of benefits. Whether you consider it an investment, you intend to pass down to your child, or you like to keep the equity high, should you ever have to borrow against it. There are ways to improve the home’s value.
Landscaping adds value to your home. John Gidding, from “Curb Appeal” and “Secret Guide to Fabulous,” was quoted as saying (in regards to how much of an ROI people might expect from landscaping), “I have always heard the number 150 percent,… On a ‘Curb Appeal’ project, I put in $20,000, and the sellers got $200,000 more than they had paid for the house just a year prior.” Co-owner of American Plant Erik Shorb says, “In terms of dollar amount, the standard suggested is to invest 10 percent of your home’s value in landscaping… If you don’t have that kind of money at the minimum, I would recommend adding color with [flowering annuals]. …Hire a mow and blow guy for a few hundred dollars to do a full yard cleanup and plant a few flowering annuals.”
Adding value to your home using privacy hedges is a great idea. It’s as permanent or temporary as you want it to be. You can choose from several great hedges from flowering to evergreen. They’re relatively inexpensive. They can add a whole host of unintended benefits, such as lowering the cost of heating and cooling bills. Though exact numbers are hard to find, having a privacy hedge rather than a privacy fence tends to attract more buyers. Not only does it look lovely, but it also provides privacy and shade when needed, as well as fresh air and a clean, crisp look to your property.
Adding a pool to your home to increase its value can be a little tricky. This ups insurance rates, and so adding one to your home could scare off some potential buyers. However, it does increase your home’s value anywhere from 5 to 13 percent, depending on what region you live in. Before deciding to add a pool, look into what’s popular in your area. Quite a few home buyers prefer saltwater pools due to the low maintenance they require. If you have the spare money to install it, pools with automatic covers are generally regarded as safer and desirable.
Remodeling critical points in your home can help to add tons of value. Refresh rooms such as your kitchen and master bedroom. Other things to consider when undergoing a remodel is if you should add anything — such as a laundry room or garage, both of which add substantial buyer value to your home. Research what kinds of remodels are suggested for the region you’re selling your home in, as it does vary from state to state.
It may seem simple, but hiring a cleaning service and keeping your home and lawn clean and tidy will add more value than you might think. When a potential buyer walks in and sees a tidy, lovely home, they won’t worry about what might be hiding in the drywall or pipes. They’ll know that you’ve taken care of your home and that they don’t have anything to fear by bidding on your home.