Nowadays, the real estate market is suddenly falling and many homeowners are just sticking on their home instead of upgrading to a new one. They choose to wait for the right time to invest in a new home. Well, I can say that I’m included in this group of homeowners. I advertised my home for three years in the real estate market before it got sold. I post it at a much cheaper price and it got sold immediately. Maybe it’s just the perfect timing at the cheapest price offered are the factors many buyers tend to consider. With my new home, I am planning to do some home improvements to make it cozier and add more value to my property.
A lot of projects regarding home improvements can increase the value of your property. Many improvements are just meant to lessen the quality and design of your home. These may probably lead to a reduction in your asking price when you decide to sell your property. So, you should choose the right home improvement you want and decide which to prioritize first.
The question is, what home improvement you want to do and avoid at the same time? However, before we talk about this, let us discuss one important factor which is money. Regardless of the size of the improvements you want to do, you should have enough budget from the start-up to completion of the project.
Here are some tips you might want to consider when improving your home that can add worth to your property.
- Kitchen renovation
Maybe most of us know that the kitchen is the main place of any home. For this reason, this can add worth to your home especially if it is a cozy one. According to the real estate market, kitchen renovation has a return on investment of 70%-120% for as much as it is not too luxurious. One quick reminder: Make it comfortable. Do not add things and design your kitchen as too extravagant compared to other kitchens of your neighborhood. This will not likely add value to your property.
- Use Energy efficiency windows.
This kind of window costs from medium to high price. It depends on the size, style, and kind of energy-efficient window you prefer for your home. But, the good news is, it has an estimated return of around 70%-100% on your investment. These kinds of windows are designed to minimize your electric bills while helping the world to save more energy. You do not have to worry about your electric bill if you want to feel fresh and cool during the summer and heated during the winter.
But if these kinds of windows are still not on your list, you can try Brisbane Blinds for your home windows. They provide high quality services and affordable products which are perfect for your home.
- Redesign the rooms.
When planning to redesign the rooms of your home, you should consider the size of every room. If you want to extend your room for a much bigger space, you should expect that this will be expensive. So, if you are on a tight budget, you might just want to redesign your existing room and still save money. You can turn your attic into a bedroom. Some homeowners are making their vacant rooms for rent to generate an additional passive income.
Before doing these room renovations, you should be sure of the ways that you think potential tenants or buyers will like and utilize the space conveniently.
- Functional and adaptable rooms are much preferred by potential clients.
- If you have a basement, it is much better to be an entertainment room or guest room.
- Loft spaces are the best as craft rooms and playrooms for kids.
- Avoid high- priced landscaping.
Having a garden landscaped can add beauty to any home. But, making it an extravagant one doesn’t mean that your home can be sold at a much higher price. If you tend to stay in your home and not sell it in a long period, it can improve your environment at home.
As an alternative to investing in an expensive landscape, you can just make some changes in your garden to add some style to your home.
- Avoid putting in-ground swimming pools.
These pools are expensive. It will cost you around $40,000- $80,000 and depends on the size, style, and kind of pool you want to be installed. In reality, swimming pools just make your house to be complicated to sell. A swimming pool will require you tons of maintenance costs and has an estimated monthly operating cost of $1,000-$2,500 depending on the usage.
There are many options you can choose when improving your home. If you are decided to renovate or redesign any parts of your home, keep in mind the things that will make it more appealing to the real estate market. You might also want to consider your budget- inclined potential buyers when you want to sell your property. Be attentive to small yet energy-efficient upgrades that can add value and convenience to your home.