Tuesday, October 11, 2022 / by Carly Liszewski
How to Increase the Value of Your Home
After the pandemic, house prices and mortgage rates continued to rise, making it more vital than ever to know the best ways for your house upgrade. It may seem daunting to figure out how to make your home stand out in a constantly shifting and competitive market, but it need not be difficult. You'll have a much easier time selling your property quickly (for the right price) if you avoid the upgrades that won't increase its worth.
As with any home improvement project, investing your money effectively is important before designing and building your ideal home. Before beginning any substantial renovations, it is recommended that you consult a reliable real estate professional in your area to find out which upgrades will have the greatest impact on your home's value. But while every piece of real estate is unique, some are reliably worth the money. Here are the best home renovation and decoration projects this year.
1. Enhance Curb Appeal
When trying to make a good impression on someone, it is preferable to start on the outside. There is only one opportunity to make a good first impression with the exterior of your home, whether you're trying out a new paint color for the front door or having a professional landscaper
2. Kitchen renovation
In 2021, the majority of American homeowners planned to update their kitchens. The modern kitchen has surpassed the living room as the hub of domestic activity, serving as a preferred spot for various activities, including cooking, reading, and watching television.
Industry expert and co-founder of EA Home Design in the Commonwealth of Virginia, Ali Meshksar, says, "Designing a kitchen can be tough. If you're remodeling your kitchen, it's important that it serves your needs and is aesthetically pleasing to the eye without breaking the bank.
Redesigning a kitchen to have an open floor plan and updating the surfaces may change the space's vibe, making it feel more at home in the current era. A larger counter space and a central island are two of the most sought-after features in kitchen remodel because of the kitchen's dual role as a family gathering spot and a place to cook and do homework.
3. Bathroom Renovations
Homeowners also have the choice of renovating their bathrooms as an alternative option. Bathroom renovations, such as installing a new bathtub, tiling the walls, or installing fancy lighting, can increase the home's resale value and turn a once-bland room into a tranquil spa retreat.
A home that has been remodeled can have an atmosphere that is more relaxing and inviting thanks to the design's flexibility and use of straight lines. Infuse personality into your bathroom's decor while incorporating elements of a spa for an extra dose of comfort and luxury.
4. Functional Accessories
Careful planning of practical accessories can significantly enhance a room's aesthetic and experiential value. Homeowners can boost their homes' resale value and sense of well-being by adding decorative touches that also serve practical reasons. Energy efficient light fittings, fireplace screens, cabinetry, mirrors, and other decorative accents are just a few examples of what can be used to increase a property's value and give it a fresh new look.
5. Upgrades to the Space
Home improvements like decluttering and remodeling can work wonders. This preparation may give the function and style of your interior, whether you're looking to install a foldable bed or redesign your table tops so they can be easily relocated. Converting unused space in the corners of a room into a workable and flexible workspace can dramatically impact the aesthetic appeal of smaller homes with limited floor plans.
6. Paint Your Exteriors
Don't limit yourself to using neutral hues indoors. The exterior paint of your home has just as much effect as the interior. Painting a house's exterior is another inexpensive way to improve its value. Consumer Reports have reported that a fresh coat of paint on the exterior of a property can improve its value by as much as 5%, as stated by Chase. You can increase your home's selling price and appeal to a larger pool of potential buyers by carefully selecting an exterior paint color.
7. Boost Indoor Air Quality in Your Home
Some evidence suggests that the air quality within a building can be just as crucial to one's health as the air outside. Older carpets in your home may harbor allergies and other impurities. Hiring an expert firm to conduct air quality testing is the first step in deciding whether or not to replace these. If you find that you need to replace your carpets, consider eco-friendly options like bamboo flooring, cork flooring, or even tile or laminate. Hard-surface flooring is more desirable since it is simpler to clean, doesn't trap dirt or odors, modernizes a space, and increases its value.
8. Adding Stone Veneer
The installation of stone veneers is among the most significant ways a renovation can result in financial gain. The project that offers the greatest potential return on investment is the installation of produced stone veneer. The nationwide average cost of installing stone veneers in 2020 was $9,357, and the average increase in resale value was $8,943. This results in a cost recoup of 95.6%. Consequently, if you are seeking ideas for a classic garden that also has benefits for your wallet, this restoration is the solution.
After giving the property the attention it needs and watching your equity build, selling your home can be an excellent opportunity to turn a profit and put some money in your pocket. You may maximize the possible sales price of your home and your prospective earnings by making some straightforward, cost-effective improvements to the aesthetics and functionality of your property. Contact The Cutting Edge Home Team if you are in need of purchasing a home.