There is no doubt that property values continue to rise in many locations throughout the country. While there are a variety of factors that contribute to this, one important consideration is how simple renovations can increase the market value of a property.
Making even small changes to your home can have a big impact on its resale value. It may be all you need to increase the value of your property and make it more appealing to potential buyers.
In this blog post, we’ll explore some of the most popular and impactful renovations that you can do to your home or investment property to help boost its value. Whether you’re looking to sell soon or just want to get more out of your property investment, here are some easy ways to add value to your home:
Give your home a fresh coat of paint
When it comes to home renovations, many people focus on major projects like textured concrete or installing new countertops. However, one relatively simple and inexpensive way to increase the market value of your property is to repaint the interior and exterior.
A fresh coat of paint can give any space a new lease on life, making it feel more spacious and bright. If you’re planning to sell your home, repainting is an essential step in preparing it for potential buyers. It’s also a good idea to choose neutral colors that will appeal to a wide range of people. By taking the time to repaint your property, you can significantly increase its value without spending a fortune on costly renovations.
Update Light Fixtures
Many homeowners don’t realize how much of an impact their choice of light fixtures can have on the overall look and feel of their home. Not only do decorative finishes like brass or chrome add a touch of sophistication, but they can also help to create a warm and inviting atmosphere. And, when it comes to resale value, updated light fixtures can make a big difference.
Studies have shown that properties with modern light fixtures tend to sell for more than those with outdated fixtures. So, if you’re thinking about selling your home soon, investing in some new light fixtures is a smart move. Plus, with the latest advances in technology, there are now more options than ever before. For example, you can now find fixtures that are made from glow-in-the-dark concrete, which is both stylish and unique. So, if you’re looking for a way to increase the market value of your property, updating your light fixtures is one place to start.
Give a timely update to your kitchen and bathrooms
One of the most effective ways to increase the market value of a property is to update the kitchen and bathrooms.
Bathroom renovations can be particularly impactful, as they often involve adding new fixtures and increasing the level of finishes. They also tend to be a make-or-break factor for many potential buyers. A sleek and modern bathroom can add thousands of dollars to the value of a home, while an outdated or poorly-maintained bathroom can be a major turn-off
Kitchen renovations may include new appliances and custom cabinetry. By updating these two areas of the home, you can make a property more attractive to potential buyers and ultimately generate a higher sales price. Although they tend to be less impactful than bathroom renovations, even small updates like new countertops or appliances can give your home an edge on the market.
In addition, updated kitchens and bathrooms can also help to reduce the time a property spends on the market. So if you’re looking to boost your property’s value, going with kitchen and bathroom renovations can never go wrong.
Add an outdoor living space
In recent years, stamped concrete patios have become increasingly popular among homeowners looking to add outdoor living space. Not only does it provide a beautiful and functional space for entertaining, but it can also add significant value to a property.
According to a recent study, properties with stamped concrete patios have an average market value of 8.5% higher than those without. Furthermore, stamped concrete patios are relatively low maintenance, durable, and can last for decades with proper care which makes them a popular choice for homeowners. As an addition, decorative concreting can also be used to add value to a property.
For homeowners looking to increase the value of their property, stamped concrete patios are definitely worth the investment.
Get rid of clutter
We have established above that concreting and kitchen resurfacing are ways to increase the value of homes. While these things are important, there is one thing that is often overlooked: clutter.
A cluttered home feels small and cramped, while a decluttered home feels open and inviting. In addition, potential buyers are often turned off by homes with too much stuff. They have a hard time picturing themselves living in the space. By decluttering your home before putting it on the market, you can make it more appealing to buyers and increase its value. So if you’re looking for ways to get the most out of your property, start by decluttering your home.
Never forget repairs and maintenance
Every property owner knows that repairs and maintenance are a necessary part of owning a home. Not only do they keep the property in good condition, but they also help to maintain its market value.
By ensuring that all systems are in good working order and that the property is clean and well-maintained, owners can help to ensure that their investment will hold its value over time. Furthermore, timely repairs can prevent small problems from becoming major ones down the road. By taking care of repair and maintenance issues as they arise, property owners can help to keep their homes in top condition and preserve their market value.
Conclusion
Making even small changes to your home can have a big impact on its resale value. By taking the time to update your home’s appearance, you’ll be able to attract more buyers and get top dollar for your property.