Recent statistics show that 4.81 million housing units were sold in July 2022, with a median price of $403,800. While some of the US locations have a hotter seller’s market than others, every American who wishes to sell their home considers one very important detail, no matter the economic climate.
When I am ready to put my home on the market for sale, how can I increase property value?
The sooner you take the steps to boost property value, the better. Some home upgrades are simple and quick, while others take time to accomplish. So, we recommend you plan well before your sale.
What are the best home upgrades to increase property valuation? Keep reading and discover six brilliant yet subtle home renovations to help you do just that!
1. Power Wash Your House
It is easy to focus on your home’s interior for upgrades because you likely spend a lot of time there. But don’t forget about the outside of your home, which is your curb appeal.
How your house looks on the outside is very important in the pictures that are included in a home sale listing. It is also the first thing a potential buyer sees when they arrive and step out of their vehicle to look at your house for in-person viewing.
Power washing the driveway, sidewalk, and siding will thoroughly remove years of mess and dirt. In the eyes of the buyer, this makes your home appear more valuable.
2. Upgrade Your Landscaping and Add Outdoor Lights
Along the same lines of boosting property value, starting with the outside of your home and then upgrading the inside, landscaping can make a big difference. In fact, it is a cost-effective way, too, to increase property value.
Make your landscape look pristine by removing weeds and dead vegetation. Take good care of the lawn and maintain green, healthy grass.
Plants, flowers, and trees should also be healthy. Trim your plants and trees if they need them.
A potential buyer wants to enjoy your landscaping not only during the day but in the dark, too. When they have family and friends over, or if they want to host a big party, buyers love to see aesthetically pleasing outdoor lights.
3. Adding Solar Panels
Many homeowners are curious about how adding solar panels can affect their property valuation. In short, with solar, you will boost property value.
How much you can increase property value with solar panels is based on a few factors. One factor is the location and how much sun exposure you get. Another factor is the local solar installation prices because it may make more sense for a buyer to choose a home with solar installed already, versus paying themselves to install it.
However, a recent study of solar installations shows that a home’s resale value could increase from solar panels by $5,911 for every kilowatt it has installed. Another study suggests that your home’s property value can increase by 4.1%.
If you have an older system for your solar panels, you will need to consider depreciation, and if you need a home upgrade to address it.
4. Repaint Your Walls
It is not an enormous time commitment. Setting aside a few hours to add a fresh coat of paint to your room can do wonders for how it looks when someone comes in to see it. Also, it adds some serious value too!
In fact, Better Homes & Gardens says you could increase property value by as much as $5,000 if you go with certain colors for each room. They recommend:
- Blue bathrooms
- Blue bedrooms
- Neutral living rooms
On the other hand, there are colors that can have a negative impact and decrease your value. Buyers will not like every room to be bright and “boisterous” hues.
5. Remove Carpeting
Homebuyers today find carpeting to be a deterrent. You may worry that new flooring is too expensive, but wait. You do not need to make a big investment to upgrade to wood floors.
Popular home renovations for smart and savvy homeowners include upgrading to engineered or laminate wood flooring. It is a fraction of what you could pay for traditional wood floors, and you will still reap the rewards of being able to increase property value.
6. Re-Glaze the Tub and Re-Grout the Shower
Now, for some final touches. Let’s upgrade your bathroom, starting with the bathtub.
If you have an old tub, here is some good news. You do not need to buy a new one.
Re-glazing your current tub will increase your property value just the same as buying a new one, except it will save you money. That is because re-glazing is relatively inexpensive.
Next, it is time to re-grout. This is how to make your bathroom tile shine again.
Think about it, when someone comes to see your home, do they really want to see black grime? Yuck!
Re-grouting is easy and not time-consuming compared to many other home renovations. Plus, your bathroom will feel brand new again!
Increase Property Value
There are different ways to increase property value, and some will help you boost the price more than others. However, the six subtle home renovations in this article will work wonders.
In fact, you may also find you love what you did so much that you don’t want to leave after all. Who knows?
No matter the future, we have the information you need to consider life’s many mysteries and challenges. We break down solutions effectively and simply, so why leave us? Keep clicking for more amazing life hacks like these.