How To Increase Your Home Value

Before you sell your home, you want to do everything in your power to increase its value. You may have the enthusiasm and budget, but it is important to know where to begin when increasing the value of your home! Evaluate the different areas of your home and use our guide to find the best place to start!

Also, you'll want to contact a Realtor for advice on the current market value of your home compared to comparable homes around you as well as what is popular in terms of upgrades, colors and other amenities you may be considering. After all you want to get as much 'value' back as you put in - we call that Return-on-Investment or ROI.

Once you have a good perspective on the current value of your home and how it compares with others around you it is time to establish a budget and go for the simple and easy things first as they can have the highest ROI.   

Inspect your home first

When buyers are looking for a new home, many value a home that is ready for move-in day. Homes that need repair are often less appealing for those looking to move in right away.

Ensure that all working parts of your home are up-to-date and functioning properly. You don’t have to have the new edition of every amenity, but items like water heaters, air conditioning, appliances and other mechanical units need to be in working order and remain in working order in the future. This will boost the value of your home.

Evaluate your home’s flooring as well. Old carpet and dingy hardwood flooring can lessen appeal. Assess the condition of the flooring, and update it if necessary. 

Exterior

One of the most significant things you can highlight with exterior work on your home is curb appeal. Curb appeal refers to the image of your home seen from the street or “curbside”. This is the first impression for visitors of your home. Therefore, you must maximize the aesthetics of the exterior of your home. There are a few key ways you can do this:

Paint Job

Apply a nice new paint job to the outside of your home. Even if it is just refreshing your current color scheme, a fresh paint job can easily increase the appeal and value of your home.

Greenery

The landscaping and plant life featured around your home can greatly contribute to its appeal. There are different approaches you can take to improve your greenery and attract certain buyers.

Low maintenance: Choose plants that require less upkeep and are more self-sufficient. This is especially true in Texas where the weather can be incredibly hot and dry, so plant upkeep can get timely and costly. You can also ensure the plants and lawn around your home are drought resistant. This can attract buyers who appreciate the aesthetics but want to avoid too much effort.

Luxury: If you would like to maximize the aesthetics and appeal of your home, then opting for luxury and high-value greenery could be the move for you. With this method, you would choose plants that are extravagant and admired for their visual appeal. They might require more upkeep, but for any buyer who values their home as something to display, this could be a choice that adds a lot of value for them.

Driveway

While it is not often considered, improving your driveway can provide value for your home. Adding lighting elements, a walkway to the front door, or even edging around the area itself can go a long way in enhancing its look and increasing its value with very little capital required.  

Interior

While the exterior of your home will make the first impression on buyers, the interior will be what makes the lasting one. This is the area of the home where most time will be spent, so a lot of effort should be focused here on making it as comfortable and beautiful as possible. Here are a few key areas of focus:

Paint Job (Again!)

A fresh paint job inside your home can reinvigorate a space and can even make a home seem newer than it is. While you can touch up your current color scheme, you can also check with your Realtor to see what the most popular trends are this year to stay modern. You can also stand out and utilize a unique theme for your home. We offer suggestions to assist you in finding the best paint finish and color.

Emphasize Energy Efficiency

Ensure the functionality of your appliances, as well as their energy efficiency. Energy-efficient appliances will help homeowners save money in the long run and are increasingly important to prospective home buyers. You may even receive rebates for the purchase and installation of these appliances in your home.

Add Square Footage

Adding square footage doesn’t always mean adding a new area to your home. Adding square footage can look like finishing areas of your home to add living space. This means if you have an unfinished loft, finishing that area can provide a lot of extra value when selling your home.

Kitchen and Bathroom Renovations

Investing in your kitchen and bathroom may bring the biggest return. The kitchen and bathroom are two areas where appliances and styles can become old and outdated very easily.

For bathrooms, this can mean upgrading your vanity or even extending your half-bath to a full. New flooring and new fixtures are other common ways to upgrade your bathroom’s appearance.

New appliances are key to improving the value of your kitchen. You can also add or update your kitchen island, cabinets, and/or countertops.  

Conclusion

Before you list your house or enter price negotiations, you want to be sure that you have maximized the value of your home. The more you show you have to offer, the more buyers will be willing to offer in return.

Be mindful of the state of your home, and repair any practical items. You can also improve on any visual elements to ensure your property achieves its maximum value.

For additional insights and guidance on upgrades and ROI see Chapter 5, 'Should I Update My Home?' in Geni's book titled 'Industry Secrets that Get Your Home Top Dollar!' - Click on the book now for a FREE digital copy.