How To Increase Your Home’s Value
Thinking of selling your home? Here are 9 tips to maximize its value.
Thinking of selling your home? Here are 9 tips to maximize its value.
Buying a house has long been seen as a smart long-term investment. When it’s time to sell, you might be wondering how to maximize your home’s resale value. The good news? There are plenty of ways to boost your home’s price. From simple home improvements projects to major renovations, here are nine effective strategies to increase your home’s resale value.
To increase your home’s value, consider expanding the usable square footage, renovating the kitchen or bathroom, applying a fresh coat of paint, installing a security system, and enhancing energy efficiency. Simpler tasks like cleaning, maintenance, and improving curb appeal can also boost market value. In some cases, these strategies may help increase home value by up to $50,000.
1. Increase your home’s square footage.
The easiest way to increase your home’s value is to expand its usable square footage. Adding an extra home office, bedroom, or even a guesthouse can be a significant selling point, making your property more attractive to home buyers. Before hiring a contractor, however, consider the average cost of the expansion and weigh it against the potential return on investment when you sell your home.
Expanding the square footage also opens your house to different segments of potential buyers. For instance, a one-bedroom home will appeal to young adults, couples, or people living alone. On the other hand, a two-bedroom or three-bedroom house will likely attract small families with children. This comes with more demand and, of course, a higher price tag.
2. Do a kitchen renovation.
Some people consider the kitchen to be the heart of a home, which is why a kitchen renovation can be one of the most effective strategies to increase your house’s sale price. But how much does a kitchen renovation increase a home’s value? On average, renovated kitchens can boost your home’s selling price by 5% to 6%. However, it’s important to note that minor kitchen remodels typically yield a higher return on investment, while major renovations may significantly reduce those returns.
There are many ways to approach a kitchen renovation. You could start by replacing outdated appliances with modern, energy-efficient models. You could also consider integrating smart devices to automate your home. Even small changes, like updating cabinet hardware, can breathe new life into your kitchen — and boost your home’s resale value.
3. Update your bathrooms.
Just like kitchens, bathroom renovations can significantly boost your home’s resale value. How much does a bathroom renovation increase a home’s value? On average, bathroom upgrades can raise your home’s value by 2% to 3%. Similar to kitchens, you don’t need to overhaul the entire bathroom to see results. Small changes, like replacing wallpaper or upgrading to a more modern toilet, often offer the highest return on investment.
4. Spruce up your walls with a fresh coat of paint.
Daily wear and tear can significantly lower your home’s curb appeal and overall value. A fresh coat of paint, both indoors and outdoors, is an easy and affordable way to make your home look brand new without breaking the bank. You could hire a professional or choose to DIY for additional savings. If you involve your family, it could even turn into a fun weekend project!
5. Install a home security system.
Everyone values security, and installing a home security system is a simple yet effective way to increase your home’s value. The best part? You can do it yourself on a budget. For example, take the Arlo 2nd Gen Essential Security Camera. Starting at just $49.99 for the 1080p version, it features high resolution video, an Integrated Spotlight, Color Night Vision, 2-Way Audio, and more.
Plus, beyond being an extra selling point, a security system will protect your home while it’s on the market. This means your investment will stay secure before, during, and even after the sale. In an emergency, an Arlo Secure subscription provides One ap Emergency Response. Powered by RapidSOS, this enables a more effective response, helping first responders arrive faster to assist you.
6. Consider a roof replacement.
Does a new roof increase a home’s value? Yes, a new roof can boost your home’s value, though it may not provide the highest return on investment. That said, quality roofing can prevent your home from losing value and make it more appealing to prospective buyers. Instead of replacing the entire roof, consider cost-effective improvements like partially upgrading roofing materials or replacing damaged asphalt shingles.
7. Replace old rugs or carpets.
Potential buyers may hesitate to purchase a home that requires carpet replacement. Installing new carpet can dramatically improve a room’s appeal, making your home more attractive to buyers. If you’re on a tight budget, consider replacing the carpet in the most heavily worn areas instead of the entire house.
8. Make your home more energy-efficient.
An energy-efficient home is more likely to attract higher offers. Buyers are increasingly focused on increasing energy savings and reducing electricity bills. Small upgrades, like installing a smart thermostat, can make your home more appealing. Smart thermostats are proven to enhance energy efficiency. Plus, they can be programmed to maintain the perfect house temperature — ideal for those open house afternoons.
Another way to increase your home’s sale price is by adding a solar power system. But do solar panels increase a home’s value? Yes, solar panels can boost your home’s value by 4.2%, according to Zillow.
9. Keep your house clean and well-maintained.
Unless you’re selling to flippers, most buyers will prioritize well-maintained homes. Think about it: if you were house-hunting, would you want to deal with fixing toilets or water leaks? Probably not. You’d want a move-in-ready home for your family. That’s why keeping your home in top condition is essential. Naturally, a well-maintained home is more likely to get a higher sale price.
Keep every room as tidy and decluttered as possible, especially when showing your house to potential buyers. Address small issues quickly to avoid them turning into bigger, more expensive problems. Consider investing in a smart alarm system to protect your home from these potential issues.
For example, the Arlo Home Security System can detect up to eight different threats, including water leaks, frozen pipes, and temperature changes. When paired with the Arlo Secure subscription, it can even listen for smoke alarms.
Arlo security cameras, floodlights, video doorbells, and the Arlo Home Security System offer comprehensive protection for your home. Whether you’re still living in it, it’s on the market, or you’re ready to close the deal, Arlo provides the peace of mind you need every step of the way. Protect your investment and enhance your home’s value with Arlo.
