Whether you’re looking to sell your home or just bought a new one and are already thinking about upgrades, home improvements can help increase your home’s resale value in the short- or long-term. These upgrades can be made through targeted projects or by regularly maintaining your home. In this article, we’ll narrow down the most economical and best ROI projects you can take on to increase your home’s resale value.
Improving Energy Efficiency
In recent years, builders have taken sustainability, energy conservation, and energy efficiency into account in the design of commercial structures and residential homes. Not only does this have a positive impact on the environment, but it also saves families and businesses money year-round.
There are a few different ways you can improve the energy efficiency of your home inside or out. The most obvious way is to convert to more sustainable energy sources, such as natural gas or solar panels, which will most likely require reaching out to your local utility or solar energy company to discuss the best available options.
Another way to improve the efficiency of your home is to install new insulation. Reinforcing your home’s seal prevents air from getting in or out of the house. This helps warm or cooler temperatures remain stable, thus reducing the energy needed to regulate the home’s temperature. Following the same principle, you can try upgrading to double-pane windows, weatherproofing drafty doors, and insulating your attic for better energy efficiency.
Create an Outdoor Living Space
The inside of your home is important, but so is the outside. Buyers are often enticed by homes that extend the living or entertaining space outdoors. This is especially great for our coastal Delaware customers, who love hosting beachside BBQs or gatherings.
There are a few different ways to improve your outdoor living space. A very popular trend this year is constructing a deck. Decks can offer a great extension from the inside of your home to the outside. You can style a deck to suit your needs by adding patio furniture or a grill. If you want to avoid a deck addition, you can also construct a patio space with concrete or pavers. However, decks are generally more attractive to buyers and tend to have a better ROI.
Think Small to Increase Resale Value
Sometimes, little improvements can go a long way. A fresh coat of paint and updating lighting fixtures are two ways to modernize your home and increase its short-term value.
Instead of gutting and redoing your entire interior, focus on key rooms, such as the kitchen, bathrooms, and the main living space. In kitchens and bathrooms, you can do simple projects, like replacing fixtures or refinishing cabinets and vanities. As bathrooms are typically smaller spaces, you can invest in nicer materials for flooring or tiling without spending a fortune.
Keep in mind that most buyers come in with ideas of what they want to change anyway. Focusing your energy on key rooms and leaving other spaces, like bedrooms, as a blank canvas for buyers is a sensible way to spend your time and money.
Curb Appeal’s Effect on Resale Value
First impressions are everything, and your home’s first impression is the exterior. Sometimes, curb appeal can make or break a deal on a home. Improving your home’s visual appearance can be another relatively inexpensive and DIY project to increase its resale value.
Try putting a new coat of paint on window shutters, the front door, or the porch to give the home a fresh finish. Also, play with landscaping. Potted plants and trimmed hedges help buyers see that you take care of your home. This further entices them to seriously consider your home’s value and potentially make an offer.
Of course, if you are looking to improve your home for the long haul and maximize your ROI over time, you may consider major exterior improvements, including vinyl siding, roofing, shutters and gutters.
Here at Advance Inc., we are happy to be a part of your next home project, including home resale improvements. Check out our website for available services and contact us today to speak to a representative.