A home is not just a place to stay, it is also an investment. The value of your house is factored into your total assets and can have a significant effect on your financial future. As a result, it is not surprising that most homeowners go to great lengths to boost their home’s value. Here are 5 home improvement ideas guaranteed to increase the value of your house.
When it comes to increasing the value of a house, nothing works as well as a kitchen remodelling project. Simply remodelling the kitchen can raise the value of the house significantly and is often recommended as the first thing to do for home owners looking to resell. Remodelling the kitchen can be a comprehensive affair and it is important to ensure that you have a proper budget in place before starting. Adding new kitchen cabinets or replacing the existing cabinets is always a good idea; it does not cost too much, yet has the potential to change the look of the kitchen on its own. If you have a kitchen with plenty of floor room available, consider building an island. Not only will it help provide extra storage space, it can also double up as a dining area.
Making the house energy-efficient
Making your home energy-efficient has multiple benefits. The primary reason for doing so is to reduce energy consumption and lower energy bills. In the long-run, an energy-efficient house also goes up in value. Using energy-efficient bulbs is a start, but don’t expect your property value to go up just because you changed the kind of bulb that you use. Making a house energy-efficient needs a bit more effort than simply screwing and unscrewing light bulbs. For starters, replace the existing windows with energy-efficient windows that have polymer frames and double-glass panes. Also, make sure the house is well insulated to prevent loss of heating and cooling.
Converting the basement
The basement represents a large habitable area in the house that often goes unused. The best case scenario is that it is used as a storeroom. A basement conversion has the potential to boost the property value significantly. You can choose to convert the basement into an additional bedroom, a home theatre or even a family entertainment centre. Market research has shown that buyers tend to rate houses with converted basements much more highly than houses with regular unused basements.
Adding a deck
Not all the changes to your home have to be made indoors. Adding an external structure to your house can be just as effective for boosting property value. Normally, people opt to add a sunken swimming pool in the backyard. However, that is a big mistake. Swimming pools require regular maintenance and are not an essential feature. As a result, it can end up driving down the value of the house. A much better option would be to build a deck. A well-built deck does not cost too much, requires very little maintenance and makes for a great location to entertain friends and family.
Raising your home’s value is not as difficult as it seems. Undertake these projects one at a time and you can be the proud owner of a house that is worth significantly more than what you originally paid for it.
Author Byline: Johnathan McKinley is the brain behind this thoughtful article. He has been in the real estate business for more than two decades now. He says selling something is an art and not everyone has the knack to do it. He recommends decks Melbourne to his readers who want to make their house look more beautiful.