If you believe your home to be your biggest asset, then put time into taking care of it. Taking care of your home should be a top priority, and if you do it well you can even increase the value of your home. Whether you want to build equity or get top dollar when you sell, use the tips below to raise the value of your home.
Make it more attractive. Appearances count for a lot with first impressions, so increasing the curb appeal of your home is a sure-fire way to increase the value. Focus first on the landscape. If it looks dull in comparison to your neighbors, plant flowers. Maintain it well.
Focus next on the kitchen and bathrooms. Outdated kitchens and bathrooms prevent a property from reaching its highest value. You don’t have to pull out all the stops for a high-scale remodel on either. Mid-range remodels deliver more return of investment on average – 81% for kitchens and 70% for bathrooms – than a high range remodel does – 53% for kitchens and 56% for bathrooms.
Go for low-maintenance. A common concern among home buyers is the possible need for high maintenance. Replacing a major component before putting your home up for sale – such as the water heater, furnace, or the roof – can alleviate that worry for interested buyers. Also consider improvements that make things cleaner and easier to maintain. For example, replacing stained carpet or hardwood floors can be very useful. Replacing high-maintenance wood siding with vinyl siding can make things easier for potential buyers.
Make it more efficient. Depending on what area of the country you’re in, energy conservation features can have a significant impact on a home’s value. Energy-efficient mortgages (EEMs) allow borrowers to take on additional debt to cover both the purchase of the home as well as energy-efficient upgrades. EEMs can also offer lower mortgage rates to increase purchasing power, according to Energy.gov. Double-paned windows, enhanced attic insulation, LED lighting, and efficient appliances all increase home value and entice energy-conscious buyers. A bigger project to consider would be to put solar panels on the roof.
Increase the size of your home. The total square footage of your home impacts the value significantly. Buyers are likely to notice the value of added space even if the appraiser doesn’t officially acknowledge it. Bigger homes always command higher prices. Adding on a room is a more obvious way to increase the size of your home, but you could also consider finishing a basement area or deck to achieve the desired effect.
Make it smarter. “Smart” technologies will increase the appeal of your home, and many buyers look for safety-enhancing technologies. These devices can include thermostats, fire detectors, carbon monoxide detectors, security cameras, door locks, and lighting.
For a professional assistance with mortgages and home value, look no further than Stonebridge Mortgage Group. You can rely on Stonebridge Mortgage Group to help guide you through the home buying process. If you’re ready to apply for a loan and want to go through the process online, Stonebridge Mortgage Group offers online applications. We also help get you pre-approved for a mortgage and help with your real estate loans and other mortgage solutions, both residential and commercial. Stonebridge Mortgage Group serves the greater Portland area and are in Gresham, Oregon. Don’t wait to get quality assistance with buying your home!