Your home is a major investment, and the more you put into it, the more you’ll get out of it. While you can’t control variables like the housing market, you can control how marketable your home is by increasing the value of your home.
Increasing your home’s value is much easier than you think, and some methods can involve a simple DIY job or two. Keep reading to learn how to increase the value of your home.
- Spruce up the exterior. Your curb appeal is how you’ll make a good impression, so it’s a good idea to paint the walls or front door, keep the garden neat and well-maintained, clean the outdoor paving, wash the windows, and even replace the garage door. Your garage door takes up a large amount of space, and the Journal of Light Construction released a cost vs value report that revealed that replacing a garage door can help homeowners recoup 100.2% of that cost.
- Add usable square footage. Homes are priced and valued according to their livable square feet, so you should try to increase that number. Add more usable square footage to your home by adding a bathroom, a guest room, or any other functional space. If there is no space inside, consider adding space outside by building a deck for entertainment purposes.
- Update your kitchen. The kitchen is the central feature of the home, so it’s no wonder it plays a crucial role in determining the value of your home. While more of a costlier option, upgrading your kitchen to maximize the space will see higher returns when you sell. Upgrading and updating the kitchen is a massive undertaking, costing from $25,000 and upwards. A more cost-effective option is upgrading kitchen appliances or painting the cabinets.
- Make your home energy-efficient. Not only can making your home more energy-efficient earn you tax deductions, but it can also boost your home’s value while lowering your bills. Installing solar systems is one of the best ways to boost home value. According to a study by the University of Michigan, solar rooftop panels will see an increase in value by 19% by the end of the century. Unfortunately, solar system installation comes with a price tag that many homeowners cannot afford, so another cost-effective method is replacing leaky windows and adding insulation to your home.
Increase Your Home Value in and Around Oakhurst
Ready to start your next renovation project? The experienced team at Granite West Funding can guide you through the process of a renovation loan and has a solution for every financial situation. Schedule a free consultation with us today by calling us at (559) 540-2275.
