The average cost of a home in the US is $374,900, but there is nothing stopping you from trying to maximize how much you could sell your house or apartment for! Try the below Home Improvements That Add Value To Your Home
While home-changes can be expensive in themselves, if you do them economically you could be increasing the value of your home significantly. While stressful, making these changes can provide your future self with significant money when trying to purchase a new home.
Add A Basement To Add Value To Your Home
As a general rule, the added value of creating a basement equates to 50-60% of the value of the main level square footage. The increased value could be maximized by introducing facilities that would be considered positive selling points, such as an office space, a basement bathroom, an additional bedroom, or a gym.
Yes, basements are very expensive to create as they require excavation, a lot of manpower, and a lot of time. It is important that you don’t let the costs run away with you. It is recommended that the budget for creating the basement remains lower than 10% of your home’s value.
Once you have your wonderful basement – which will be incredibly useful and make your home feel airier and bigger – you could be talking an extra 20% on your home’s value.
One Of The Best Home Improvements Is An Attic Conversion
Like a basement, converting an attic essentially adds another floor to your home. If you use the space wisely, you could benefit from added bedrooms, bathrooms, offices or more.
Similar to a basement, by converting an attic, you could be increasing the sale value of your home by around 20%.
Add Value By Making Your Rooms Look Their Best
This applies to all rooms – but primarily, the kitchen and bathrooms. When showing your house to potential buyers, they will be thinking about the improvements that your home requires for them to want to buy it. Bathrooms and kitchens are at the forefront of buyers’ minds. You can preempt that, and make little changes to up the value of your home by around 5-10%.
Simple improvements include choosing thermopanes, a new lick of paint, updated doors, no cracks in the walls and flooring not coming up from the ground. These simple changes are – in the grand scheme of things – inexpensive, and can help you sell your home for a good price.
Inviting Outdoor Space Adds Great Value To Your Home
86% of US homes have a garden, and if you choose to spruce it up, you could be increasing how much you’ll get in exchange for your home. By introducing a nice patio area, fixed lighting, and ensuring that any brickwork is perfect, you’re being your own best friend.
Kitchen Changes That Make The Biggest Difference
Updating a kitchen is tedious and costly. However, once the heavy lifting is done, it is a huge selling point on a home. Your kitchen is a major factor in your home, and functionality and design will always be on your side when you’re trying to sell.
Reinvent your kitchen by changing these out:
- wall color
Improving the kitchen can up the value of your house by up to 30%.
Practical Elements To Updating Your Home
Update your water system, electricity, and gas system, and that insulate your home well. If you’re showing your house to potential buyers and they are struck by the freezing temperatures, that might be enough to put them off buying. Rather, re-insulate your home, change the internal insulation, or purchase double-glazed windows if you don’t have them already.
If you have a parking area, make sure you look after it. If you have an electric car charge point you intend to leave there, let them know!
There are always plenty of ways to be smart about upping the value of your house – so make sure you are!
Also read, Home Improvements Tips for Moving and Staying Put.