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Your home is your biggest asset; in the ever-competitive housing market of the present, it is essential to make your home stand out. If your house is different from the others, it automatically becomes more expensive.
There are a number of factors that determine the value of your house; from the location to the demand in the market, many factors are out of your control. Nonetheless, there are several elements that you do have control over.
It doesn’t matter if you are looking to sell your home or renovate it; you can significantly increase the value of your house if you take a few simple things under consideration and make some wise decisions.
A simple addition to your house that might cost you only a few hundred dollars will add thousands to the value of your home.
However, while upgrading your house or constructing something new, it is essential to add something of value; the more features your house has, the more expensive it will be.
In this article, we lay out a few simple and basic ways to upgrade your home, which won’t cost you much but will add significant value to your house.
Ways to Upgrade Your Home and Increase its Value in 2022
Of the many ways through which you can maximize the value of your home, we have listed the most convenient and effective ones below.
1. Improve the Exterior
The way your house looks can make or break the deal; if you want to increase the value of your property start by improving the exterior.
Change out your front door for a new and more modern look, replace the windows, if necessary, paint the exterior of your home, address any issues with the siding and the roof, gutters, etc.
Also, don’t forget to place some attention to your plants and trees. Gardening is a great way to spruce up the look of your property.
2. Upgrade your Kitchen
A kitchen remodel can get you a significant return on investment. A “Cost vs. Value Report” published in 2018 found that minor upgrades and remodeling to your kitchen can provide an 81% return on the initial investment.
This shows how much of a difference a kitchen upgrade can make to the value of your house.
A simple addition, like adding a set of new dining chairs, can really make a huge difference when it comes to changing and updating the look of your kitchen and dining area.
3. Add an Outdoor Space
The addition of an outdoor space or a patio can be of more value than you realize. An outdoor space does not require much construction and can be installed for a very reasonable price.
A wooden outdoor deck or a simple patio will not only make your home that much more beautiful; it will also add value.
Moreover, you can furnish your space with matching cheap garden furniture to add further value and get a better return on investment.
If you cannot afford an outdoor deck or a patio, you can simply build a space where you can host barbecues with family and friends.
This will not only be cheaper to build but also comes with high demand as everyone wants to have an outdoor space to relax, cook and eat during the summer months. An outdoor space gives your house a luxurious feel and can make it worth more than its actual market price.
4. Add a Swimming Pool
Installing a swimming pool for your house is another great way to upgrade your home and make it your own.
If you have a reasonable amount of unused space in the backyard of your home, you should consider adding an above or inground pool to your property.
While this upgrade isn’t cheap, it’s something that will truly change the way you look at your home.
5. Add Furniture
Adding furniture to your house is another simple way of adding thousands to your house’s market value. An addition like new furniture can completely transform your living or room and make it worth more than you could imagine.
Other than chairs, you can add new sofas or tables to not only increase the market value but also the rent if you are looking to rent out your home.
A fire pit is another addition you can make to your living area. A fire pit, like a patio, makes your place feel more luxurious and should help add value to the property.
6. Get your Home Painted
Getting your house painted to shoot its value up is one of the oldest tricks in the book. If your house’s paint is not up to the standard, its price automatically drops.
The best way to make sure you get the maximum value for your house is to get it painted. For starters, you can start by painting rooms with degrading paint or those with an odd color scheme.
7. Make your Home Energy Efficient
If you install state-of-the-art features, like a smart thermostat, you can increase the price of your house. In today’s market, the properties that come with features not found in others are instantly worth more than their competition.
In order to make our house stand out in a market of hundreds of others, it is essential to make it as energy-efficient as possible.
An energy-efficient home is not only environmentally friendly and can save you a lot of money in the form of gas and electricity bills; it also appeals to a potential buyer, and many are ready to pay extra for the features.
8. Renovate your Bathroom
Renovating your bathroom is essential if you want to increase the value of your home. You do not need to do anything fancy; only a simple, middle-tier remodel will give you a considerable return. For example, new flooring and updated fixtures can provide a return of up to 70%.
9. Make your Home Smarter
Smart devices for homes are more popular than ever before and these days smart homes are selling for a lot more than traditional-style homes.
Everyone wants a modern home these days and converting your home into a smart home only takes a few smart devices such as smart thermostats, smart doorbells, apps that allow you to adjust the curtains at certain times of the day, brighten and dim the lights, and more.
These features are quite simple yet are in high demand these days, and people are ready to pay extra for them.
These simple renovations that do not cost a fortune can add a fortune to your home’s market value and make it worth significantly more than it currently is.
While upgrading your home, it is imperative to make upgrades that provide a good return. If you go for any of the upgrades mentioned above, you can rest assured you will get a significant return on your investment.