The aim of any investment is to have it appreciate in value. Houses are no different.
Be it a rental, flipper or personal property, increasing the worth of a home has many benefits. The most obvious of these is that you will get a bigger paycheck upon sale. However, even if you’re not looking for an immediate monetary reward, houses that are worth more also tend to be safer and more functional by nature.
With that in mind, read on to discover five simple ways to increase the value of your home:
Install a Security System
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Security systems add value and improve safety for you or your tenants. They’re a great addition to any home (especially those with young families) and could even be argued to be necessities.
Even if you don’t want to go all out with internal and external CCTV, advanced alarms, etc. it’s well worth investing in a smart door lock and camera. You’ll instantly make your home safer, and some insurance companies even lower premiums for policyholders who install security features such as these to their home.
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When your old oven gives up, you don’t just go buy the same model again, do you? No, you upgrade to a later model with better features. By doing this with fixed appliances, you instantly increase your house’s value. Anything that can’t easily leave the property is considered during evaluation, so it’s well worth updating and/or upgrading before you sell.
While you’re completing these upgrades, it may also be worth looking at your electrical outlets and wiring. Not only can these be hazardous if they’re not maintained properly, but having new, recently certified electrics will also benefit your back pocket through lower energy bills and improved resale value.
A Fresh Coat
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Repainting is, without a doubt, one of the easiest ways to add value to your home.
A fresh coat of paint makes everything look so much nicer and let’s be honest, half of your appraisal is the impression your house leaves.
Do Look Down
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Those shiny (or matte) new walls aren’t going to have as much impact if they’re sitting over ratty carpet or scuffed up hardwood.
Consider upgrading your floors so that they pair nicely with your other improvements. They’ll add extra visual impact and value both in and of themselves, and in conjunction with other features. Additionally, you’ll feel a lot happier wandering around on polished wood and plush carpet then you did on the worn, dated flooring that was previously in place.
The Key Part of DIY is DO IT
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There’s no point initiating DIY projects or home maintenance if you don’t plan on carrying through with them. “Don’t start something you don’t intend on finishing” is a good rule for any part of life. This is especially the case for those that impact your wallet, or more importantly, your safety.
Completing any ongoing projects around the house lifts value and stops your home from being a construction zone, which isn’t good for anyone. If you really believe you just can’t do it right now, hire someone who can, or put it on the back burner until you have the resources available.
A lot of people shy away from home improvement because of the perceived hassle that comes with it. Sure, a lot of projects can take a vast amount of effort, but they don’t have to. A smart lock and camera here and a lick of paint there can do wonders for you, your home and your wallet, so there’s really no reason to keep avoiding them.