The pandemic saw people moving out of cities as they looked for areas where they feel safe. Many of them bought properties in rural areas where the population density was small. Some of them sold their homes in the city. Some properties fetched a good price after the owners enhance them to increase their resale value.
With the increasing home prices, you can benefit from improving your home to increase its resale value. Renovating the home can increase its appeal in the market and add to its value. Here are some things you can do to increase the resale value of your home.
Increase the Usable Space
A home with a large usable space typically fetches a higher price. This is particularly true with many people working from home due to the pandemic. They can convert the extra space into a home office or a learning area for their children.
You can also add a bathroom or another room where guests can stay while they are in the city. While it may take a good amount of money to increase the usable space, the returns on the investment are worth it. It also makes your home stand out in the market, especially if comparable homes do not allow these types of improvements.
Declutter and Clean
You can also increase the resale value of your home by cleaning and decluttering it. Its resale value can increase by around $4,000. Deep cleaning the home can add to the appeal of the home. It may take a lot of your time to clean the house and declutter it. But once it’s clean, you may even decide not to sell it since a clean and organized home can reduce stress and anxiety.
You may even feel happy when you donate any items you do not need anymore to charity. It will also make the home more livable since it will reduce allergens in the home. Additionally, you’ll have more space to store items that you value.
Enhance its Appearance
You can also add a fresh coat of paint to the interior and exterior of the house. The paint can make your home look appealing, and it does not cost that much to do this. It also makes the home look fresh and new, especially if it’s been years since you last painted the home.
While neutral colors are best, you can also take into account the location and the colors of the homes in the area. This is particularly true when you’re trying to decide the color for the exterior of the home. But you should avoid yellow and other bright colors unless the area has a lot of brightly colored homes.
Besides painting, you can install shiplap wall panels in the living room, bedroom, or den. These materials are durable and can enhance the overall look of the rooms. You have several options when it comes to the wall panels. But you should choose wall panels that many people may find appealing.
Update the Kitchen
With many people cooking at home, you may want to update your kitchen if the equipment is outdated. You can replace them with newer models of kitchen equipment. If you have the budget, you can consider getting smart kitchen equipment. Smart devices have a better appeal compared to ordinary kitchen equipment.
Another option is enhancing the layout of the kitchen to maximize the space in the kitchen. The bigger space allows the buyers of the home a lot of freedom when they are cooking up a storm in the kitchen. You can also increase the cabinet space in the kitchen to give buyers more space to store ingredients.
Install Smart Devices
Installing smart devices in the home can also increase the value of a home. Many people look for homes that already have existing smart devices so that they do not need to purchase and install the devices themselves. One of the smart devices you can install is a smart thermostat to control the house’s temperature. This device also increases the efficiency of the home and reduces utility expenses.
A smart doorbell also allows you to monitor anyone who passes by your front door, including unexpected guests. Smart lighting is another option that allows you to control the lighting at home from anywhere.
Smart locks allow you to leave home without bringing a key since you can control the locks using your smartphone. For safety, smart smoke detectors can keep you informed about the location of fire inside the home and allow you to avoid the area.
Increasing the resale value of a home may require you to make a small investment. But the investment will pay off once you sell your home at a higher value than you initially expected.