Elements That Increase Home Value
Moving into a home can be one of the most stressful and rewarding processes ever. However, the process of home value doesn’t end once you move into your home. Chances are, you probably had a remodel in mind before you moved in your first box. A 2018 Homeowner Protection Survey found that 58% of homeowners will “definitely” or “probably” undergo a home renovation or improvement project in the next 12 months. A driving factor for this is that people want to add immediate value to their home while living in it. What people don’t know is that not all additions or remodels are worth it. Here are several elements that can directly increase the value of your home in the first year.
Spruce Up the Extra Space
Not every home has a basement or extra room, but if you find that you have just moved into a home with one, take advantage of the extra space. Many people view the basement as a dark, cold, and forgotten storage room. If you have an extra room that is forgotten or unfinished, give it love. Buying trends show that people want extra space, and the pandemic has only increased that desire for additional square footage. Setting up a cooling system in a basement and making it look like a habitable lounge area or bedroom can add thousands of dollars in value to your home. This also rings true for those small additions done by previous owners. Turn it into a child’s reading nook or small bedroom, and buyers will definitely remember the detail when touring your home in the future.
The inside of a home matters little unless people have a reason to go inside and look. This is where curb appeal comes in. Adding value to your home doesn’t always have to come in the form of expensive kitchen and bathroom remodels. Adding grass, a couple of new trees, and some shrubs along your home in the first year you move in can make an enormous difference down the road. All this plant life, if well maintained, can be the selling point difference in a home. Also, it will add lush life to your home while you’re still living in it.
Maintenance and Repairs
Most homes weren’t built yesterday, and even if they were, they all require maintenance and care over time. Many people tend to move in and focus on specific remodels that don’t add home value. As a result, when it comes time to spend money on repairs, well, it usually isn’t spent on them. They are also largely ignored because they aren’t the first things people think of when the word “remodel” comes to mind. After all, air conditioning systems, stucco exteriors, and roof shingles aren’t necessarily things that people are excited to remodel. Giving maintenance to these things will save you money in the future and add value to your home.
Buying and moving into a home is wonderful. They give us the ability to create memories inside a place that we will remember forever, no matter how many times we may move. Adding value to these homes lets them serve us in more ways than one and makes it easier to sell later on in the future. Contact Us to see how we can help you get started on your home buying process! We offer advice, consultations, and other services to help make you feel comfortable as you take this next exciting step in your life.