How to Increase the Value of Your Home in the New Year
The New Year season is a time of resolutions. As you’re thinking about your waistline or your bank account, don’t neglect to make a resolution for your most important investment – your home. Whether you’re thinking of selling soon or simply want to improve your home’s function, the right renovations and upgrades can make your home more functional and more valuable. Here are some ways you can add value to your home this New Year.
1. Add a Fence
Surprisingly, a fence is a great investment, both for the function of your home and it’s potential value. People with pets and people with kids like fences because they keep little ones contained. Others like fences because they provide a measure of privacy and define the limits of their outdoor living spaces. When it comes to selling your home, a fenced-in yard increases the number of potential buyers you will appeal to significantly.
2. Add a Mudroom
Whether you transform an existing laundry room or entryway into a mudroom or add on to your home to create one, this particular addition will add value and function to your space. Make sure the mudroom is filled with creative storage to make it as appealing as possible.
3. Wood Floors, Original if Possible
If there are wood floors hiding underneath your carpeting, take the time to have them restored and repaired. Wood floors are one of the best flooring types in the minds of modern home buyers, and original wood floors add value and character to the space. With gleaming floors, you will see your home’s value go up.
4. Add a Fireplace
Adding a fireplace isn’t the easiest upgrade, but it will bring a high return. You can cheat a bit by adding a gas-powered one instead of a wood burning one, but make sure the mantle is attractive and in line with the architecture and decor of the home. You’ll see that the addition makes the home distinctive and more valuable to potential buyers.
5. Smart Home Features
The modern home buyer is tech-savvy. Adding smart home features and security will increase your home’s value. In fact, people are often willing to spend several thousands more for a “smart” home than one that does not include this technology.
Remember, the New Year is a great time to think about upgrading and updating your home. With this list, you can focus on those improvements that add value, so your home will get top dollar should you choose to sell.