Did you know that the average home value appreciates by 3.9% every year, as analyzed for the past 25 years by Black Knight, Inc.? If you are hoping for a bigger property value increase, then you need to do something proactive to make that happen.
But what increases house value?
There are many things you can do to increase property value, some of them quite easy and affordable, and we will discuss some of them in the article below, so keep reading!
1. Add Energy-Efficient Appliances and Features
Everyone is interested in being environmentally friendly nowadays. This is especially true for the newer millennial and Gen X generations. And a lot of them are the ones who will be bidding upon your home.
By upgrading your appliances to energy-efficient ones, and by adding some smart home features, like a smart thermostat, smart lighting, and more, you can definitely up the value of your house. It will make it more enticing for folks to buy your home.
2. Renovate or Finish Your Basement
If you have been waiting for the perfect moment to renovate or finish your basement, then that time is now. By finishing your basement and either creating a separate living space complete with kitchen and bathroom or just having an area to watch TV and relax with friends, you can increase your property value.
3. Create a Bedroom in Your Attic
Do you have an attic space that’s just sitting around collecting dust mites and cobwebs? Have you been wondering if it’s worth it to create a living space in your attic?
If you wish to increase property value, then cleaning up your attic space and creating a bedroom is a great way to do so. This way you will entice more folks who have bigger families or those who are looking for extra bedrooms for their live-in staff.
4. Add More Rooms If Possible
You might have to get zoning permission for this from the city you live in or the county, but if you have the space for it, adding a couple of additional rooms or bedrooms can make your place stand out.
It doesn’t necessarily have to be a bedroom. It could even just be a bigger living area or an outdoor covered patio. The sky is the limit, so think outside the box by imagining what your ideal house would include.
5. Get Landscaping Services for Your Front Yard and/or Backyard
Are there more weeds in your front yard or backyard garden than plants? Perhaps you could start calling your backyard a meadow rather than a garden? IF that’s the case, then consider getting https://www.franzwitte.com/landscape-services to make some upgrades to up your curb appeal.
There’s a lot that can be done here to make your property value pop. You could add in a fireplace pit or you could add in a vegetable patch for those people interested in growing their food. You could even add in a tennis or badminton court if you have space enough for that.
6. Split Your Home into Apartments
Do you live in a college or university town? Do you have lots of opportunities to rent out space to students who are just looking for a bedroom and a shared living area? If that’s the case, you could consider converting your home into 3-4 tiny apartments.
This will increase your property value, of course, but also make it quite enticing for real estate investors to purchase your home to add to their portfolio.
7. Get a New Bathroom
Older homes didn’t have as many bathrooms as newer homes do. So if you have a home from the 80s or early 2000s, consider adding a new bathroom (or two) to ensure that an entire family isn’t fighting for time in one or two bathrooms.
If possible, add a bathroom for each bedroom. This way you can truly increase your property value and make it more suitable for families with lots of teenagers, or families who are multi-generational.
8. Make Your Living Area Open-Plan to Create the Illusion of More Space
Do you feel a bit claustrophobic in your living area space? That’s understandable, especially if it’s cut off into a dining area, the kitchen space, and the living area.
By converting your living area into an open-plan space, you will make it airier, and livable. It will open up oodles of space, and make it more enticing for families to spend more time in it. Also, it will be nice for the chef in the family to have direct contact with the family while he or she cooks dinner.
9. If Permitted, Convert Your Garage into a Living Space
There are zoning laws against this in certain cities, but if your city permits it, then think about converting your garage into a living space, especially if you have a long driveway and enough space on it to accommodate many automobiles.
Not only does this create a space that can be rented out for extra cash, but it can also better use a space that mostly collects junk and takes up valuable square footage.
10. Refresh Your Home’s Exterior by Painting and Redoing the Driveway
When was the last time your home’s exterior (and interior) was painted? There are many fresh paint colors on the market that can jazz up your home’s exterior and make it come alive.
You could also take a few dollars to redo your driveway to cover up those potholes and make it slicker-looking. It’s easy to do and adds greatly to your property value.
What Increases House Value? – Tips for the Average Homeowner
If you are an average homeowner wondering about what increases house value, you will need tips you can apply on a smaller budget. You don’t have an unlimited cash flow to add helipads and extravagant fountains to your front yard.
That’s why the tips laid out above are here to help you increase property value in a simple, yet effective manner.
Don’t forget to keep browsing our website for more tips and tricks on homeownership and real estate.