Your home is likely the largest investment and asset you and your family own. When it comes time to sell you want to get the most you can out of it. There are a wide range of upgrades and improvements that can be performed inside and outside the home that will up the property value of your house, based on the condition of the home and your budget limitations. Many of the upgrades that add resale value to the home are based on improving the efficiency of the house’s use of energy, which will also save you money on monthly operational costs until a sale is made.
Improvements or upgrades vary widely in costs and effectiveness in increasing the value of the home. For example, replacing your kitchen countertops with granite will seem costly, but the value added in appearance, function, and maintenance makes it a wise long-term investment, whether you are preparing for an imminent sale or planning for the future.
The following upgrades and home improvements feature prominently in home buyer requirements and preferences.
Upgrading the systems in your home to conserve energy will save you money on monthly utility bills and increase your property’s value. Prospective home buyers in today’s energy conscious society are willing to pay more for homes that have been updated with green systems designed to generate more energy than they use.
Energy efficient upgrades that will up the property value of your house include:
- Heating and cooling systems: The largest usage of energy in your home comes from the HVAC systems that heats and cools the house throughout the seasons of the year.
- Windows and doors: If your home was built or renovated before the recent trend of energy efficient homebuilding, your windows and doors are not maximizing their protection and energy-saving capabilities. Today’s windows, doors, sliding glass doors, and skylights are designed with energy conservation in mind. Double- and triple-paned windows and sliding glass doors will result in significant savings for you and increase the resale value of your home.
- Solar panels: The manufacture and installation of solar panels has become more affordable in recent years as they are becoming more of a standard in the homebuilding industry. Installing solar panels on your home will show potential home buyers that your home is serious about saving energy.
- Appliances: Upgrading to modern energy-efficient dishwashers, washers, dryers, and other appliances in your home is an effective way to reduce energy usage. Any new appliances will serve to up the value of the home.
- Insulation: An important factor in the using and saving of energy is hidden within the walls and ceilings of your home. Upgrading the insulation systems in your home allows for better control of the temperature and airflow throughout the house. Upgrading the insulation is an effective way to protect your home from the most extreme weather conditions while increasing the resale value of the home.
Improve the Look
You will only get one chance to have your home make a first impression on prospective buyers. Improving the exterior curb appeal of your home will make home buyers want to see more. Upgrading the landscaping and repainting the outside of the house are relatively simple and inexpensive ways to make your home more appealing to prospective home buyers.
Once inside, the two rooms that have the most impact on possible buyers are the kitchen and the bathroom. From minor repairs and upgrades to major renovations, upgrading these areas will help to increase the value of the home and make it more appealing to home buyers.
Higher Value with Low Maintenance
Owning and maintaining a home is a lot of work. The newer the appliances, systems, and components in the home, the less maintenance they will likely require down the line. Upgrading to hardwood floors or vinyl siding are prime examples of home improvements that will be attractive to possible home buyers for their low-maintenance properties. Installing new granite kitchen countertops can be costly but will add beauty and require very little maintenance over time.
While much attention has been given to downsizing and small home living in recent years, the overall square footage of a home still has a big impact on the home’s market value. Adding rooms, finishing your basement, and installing patio decks will increase the home’s living spaces and raise the overall resale value of the home.
Smart Technology Becoming Standard
From thermostats and fire detectors to home entertainment systems and security cameras, smart technology is becoming more popular in homes throughout the country. Upgrading to smart technology systems may not always lead to a direct increase in your home’s resale value, but they will most certainly add appeal to modern and technologically savvy prospective home buyers.