Savvy homeowners like you don’t see their home as a place to live but a great way to increase wealth through home equity. Home appreciation works like magic where the property value increases by itself, and homeowners can get a reasonable sum of profit once they sell their home.
Unfortunately, it is equally hard to tell at what rate the property will appreciate since most of the factors keep changing or not in the homeowner’s control. Things like how many buyers are there looking for homes, the available homes in the real estate market, rate of inflation can affect property appreciation. Also, you never know when to sell the house or even are ready to sell it when the market is hot? For example, most house owners think they will live in the house for 10 to 15 years, but they can change it quite early.
But how is it possible to increase the value of your house beyond the market values and standard criteria of equity appreciation?
Keeping an eye on the real estate market and dealing in many homes, we have realized that if you want to be more confident that our home will give you good returns while selling and worth top dollar in the future, follow our tips to increase home value.
Let’s dig in!
1. Add Beauty to your house
Well, the first thing you can do to increase the equity appreciation of your home is to make it more attractive, literally. To all the home décor enthusiasts, think about home stagging! And while you are investing your energy and money into adding Beauty to your home, it is a great joy to live in the prettier house.
Many real estate agents, property dealers, and sellers have observed that the homeowners who do the home staging get a better price than similar properties in the exact location.
Once that said, we wouldn’t recommend you to go overboard and spend a large sum of money on home décor projects to get an additional value once selling. Always go for the changes that you love and are perfect for your family so you can enjoy them. Even if it doesn’t add a good value while selling, it is still a win.
2. Add more Space
Bigger homes sell better and for more price. That is a self-evident thing but stay with us. Investing while buying every square foot of house will return while selling and add real value.
Take a look around your house and tell, are there any walls that you can knock off to make the space look bigger. Or maybe a spot which you can remove to add the space in your house?
Remember, the home renovation usually costs more than the resale value of the house. That is why you need to make sure where to invest in getting better returns. That is why don’t go for the big projects for your home renovations to get increased home value if you are not planning to live longer in the house. It would be best to ensure that the additional space you are creating in your place is improving your home value. It is in your budget too.
3. Include Energy Efficiency
If you think that adding energy efficiency to your house will not improve your home value, think again. Energy efficiency has become one of the emerging factors in the last decade for adding home values as per many real estate professions.
Many new homeowners and professionals consider energy efficiency a long-term-money-saving element and tend to pay more for the property when they get this added value. Also, you can enjoy the benefits of the cost-saving energy efficiency of factor while living in your home, which will deliver the profit for the investment while selling. Nevertheless, you always feel better living in an environmentally friendly home.
Consider the following energy-efficient factors to start it:
- Windows, siding, and doors installation
- Energy-efficient appliances
- Energy-efficient lighting
- Heat and cooling costs
- Solar panels installation at home
- Energy conservation from landscaping
4. Add Technology to your home
No matter if you are a tech geek or not, adding technology will not only adds a lot more value to your home than you think. It gives you a pretty good living experience in the house too. As the entire world focuses on technology, there are plenty of gadgets and gizmos designed for home and improve your living. Buyers are more inclined and impressed by the houses with smart home products preinstalled and in a working state than to get them and install them by themselves. That is why you can list down the things that would make your life and chores easier and install them; after you have taken the joy, someone else can find it relevant and helpful.
Following things can make your living experience better:
- Smart thermostats
- Smart cameras
- Smart security system
- Smart fire detectors
- Smart locks
- Smart lights
Imagine a home with all the above smart devices installed. Would you pay some extra to buy a house like this?
If yes, switch your tech-geek mode on and hit the home or electronic store to upgrade your home with the latest innovative technology.
