There are quick ways to increase the value of your home beyond the standard equity appreciation, resulting in a big return on your investment.
In this post, we’ll share 6 quick ways to increase the value of your home so that you can get the highest return on investment possible. We’ll start by covering why home improvements are important.
Let’s dive in!
Why Are Home Improvements Important?
Home improvements are important because they can make you feel better about your home.
They can also lower your utility bill with more energy-efficient solutions and, more importantly, increase the value of your home.
For instance, the average payback in a home’s resale value is 56% of the cost of the remodel. Additionally, for those who replace garage doors, windows, etc., the return on investment can be as high as 75%.
With that said, let’s take a look at some quick ways to increase the value of your home next.
6 Quick Ways to Increase the Value of Your Home
Doing minor upgrades and changes to your home can not only make you feel better about your living situation but also help you get top dollar when it’s time to sell.
Here are 6 ways to increase the value of your home:
1. Improve the Curb Appeal
The first impression is everything! The feeling potential buyers get from viewing your home from the street is going to judge whether they want to walk through the front door.
In other words, the better your home’s exterior looks, the more inclined buyers will be to come and take a closer look at the inside as well.
So simple things such as ensuring that the existing landscaping is well-maintained, the exterior paint is in good condition, and that the roof is clean will go a long way.
In addition, if your yard seems dull in comparison with your neighbors, consider planting flowers or repainting the front door.
For more details, please check out our post on why curb appeal is important when selling a property.
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2. Upgrade Your Kitchen and Appliances
The kitchen is widely regarded as one of the rooms in a house that makes the strongest impression on homebuyers. The bathroom comes right thereafter and is another room worth remodeling.
A recent remodeling report shows that a minor kitchen remodel recoups 81% of its cost in added value on average. Versus 53% for an upscale kitchen remodel with stone countertops, custom cabinets, and commercial-grade appliances.
This makes kitchen upgrades an excellent place to spend your money.
Make sure to install new stainless steel appliances and update other outdated finishes and decore.
3. Invest in Energy-Efficient Home Features
Today’s home buyers are much more focused on environmental issues and are looking for eco-friendly home features.
They also know that energy efficiency saves money on their utility bills.
With this in mind, if you’re upgrading your appliances, you should seek out energy-efficient equipment that can lower the cost of your electricity and gas bills.
Also, upgrading to a smart thermostat that improves energy efficiency will save you money every month on your utility bill as long as you live in the home.
To maximize the value of your home and energy efficiency, putting solar panels on the roof can increase the perceived property value significantly.
But since solar panels are a big financial commitment, they only make sense if you’re hoping to increase value over the long term, not looking for a quick boost in resale value.
4. Get a New Coat of Fresh Paint
This may seem like simple and obvious advice, but a new coat of paint is the most cost-effective way to refresh the look of your home while boosting value.
It can make a dull place look brand new!
As for the color, go for a light coat of paint such as the traditional white or ivory. That way, your home will appeal to a wider range of buyers.
5. Increase Storage Space
Limited storage space is going to be a massive shortfall for potential buyers, so try to increase this where possible.
Some efficient ways to increase storage space are to install open shelves in the kitchen, bathroom, hallway, and laundry room.
Also, organizing and decluttering the closet can make it appear bigger. And installing hooks on the back of doors is another simple convenience that’s often overlooked.
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6. Leverage Virtual Staging
If you’re ready to put your home on the market but don’t want to spend money on upgrades and repairs, there’s an affordable and super-effective option called virtual staging.
Virtual staging is the process of adding digital furniture to photos taken of a vacant, partially vacant, or outdated home.
This type of staging is one of the best marketing strategies for real estate since it helps potential buyers imagine themselves living in the home.
Depending on how you decide to dress the space with photorealistic furniture and decor, you can convey a feeling that appeals to your desired market or niche.
With PhotoUp’s virtual staging for real estate, you can get your photos virtually staged in 24-48 hours by our professional real estate photo editors.
Best of all, it only costs $25 per image.
All you need to do is sign up for a free account, upload your images, choose furniture sets and decor, and PhotoUp will do the rest!
It’s that easy!
We hope this post helped you get ideas of quick ways to increase the value of your home so that you can get the highest return on investment possible.
If you want to learn more about virtual staging, you may also want to check out the following resources: