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Thursday, December 23, 2021

How to Add to Your Home in a Way That Boosts Your Equity

How to Add to Your Home in a Way That Boosts Your Equity
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Your home is already a fantastic investment, but there are some things that you can do to increase the value of your home and boost your equity. Because remodels, upgrades, and additions cost money, it is important to focus on the areas that will bring the greatest return on the investment. Here are eight ways to increase the worth of your home.

Make a Simple Cosmetic Change

Sometimes, the simplest changes can make the biggest difference. One area where this is true is curb appeal. Improving your home’s curb appeal with a simple cosmetic change is one way to get a big return on a small investment. Ways to improve curb appeal include applying a fresh coat of paint or adding new siding. Neutral paint colors are generally better for appealing to a wide audience, and installing high-end siding can significantly increase the value of your home. Another good option for improving curb appeal is to update your landscape design. A beautifully designed front yard is a great attention grabber and huge selling point. At the very least, improve upon the landscaping you already have. Rake leaves, remove weeds, trim bushes, improve the quality of your grass, and plant eye-catching flowers.

Add a Room

One of the best ways to increase home value is to expand the number of rooms. This can be done in a number of ways. One way is to add new construction. This gives you the most flexibility for the type and size of room that can be added. Furthermore, this will increase the total square footage of your home, which provides an automatic raise in value. Another common way to increase room number and square footage is to finish an unfinished basement. The size and shape of your basement will be a determining factor, but generally, unfinished basements can be turned into several rooms, such as a game room or theater, bathroom, and bedroom. The least invasive way to add a new room to your home is to create two rooms out of one larger space. Just be careful that this isn’t done at the expense of other popular features, such as a vast family room or large master bedroom. Be cautious with garage conversions. If a garage conversion makes parking or storage a problem, it might not be a boon.

Install Hardwood Floors

The quality of flooring can make or break the general appeal of your home. A classic flooring that is always in high demand is hardwood. Hardwood flooring comes in a variety of sheens, colors, textures, and plank sizes, which makes it a versatile choice for any room. Hardwood flooring is also durable, especially if you choose distressed variations for high-traffic areas. Changing your flooring is a relatively inexpensive way to increase the value of your home and create a timeless and lovely aesthetic.

Add a Deck

Decks provide an extension of your home where you can entertain in style. Additionally, they create a usable outdoor space for relaxation. Decks provide room for hosting parties and other gatherings at your home. People love to gather outside, and hosting outdoors requires less cleaning up before and after. Spending time out of doors is a proven mood booster and it is known to foster better physical and emotional health. A deck or patio is a must-have for today’s homeowners. Adding one will increase the value of your home significantly.

Upgrade Your Kitchen

If your kitchen is dated, updating it is one of the best things you can do to increase your home equity. Modern kitchens are a requirement for contemporary home buyers. Most importantly, upgrade your cabinets, countertops, appliances, faucets, and light fixtures. Your cabinets should be spacious and user-friendly, as well as durable and trendy. Countertops should be composed of a sturdy and timeless material, such as quartz or granite. Eco-friendly and smart appliances are also top sellers. And replacing dated faucets and light fixtures is an easy and inexpensive way to create a coveted kitchen design and increase home value.

Remodel Your Bathrooms

Kitchens and Bathrooms are the most important rooms to update for increased appeal and equity. Install a chic new vanity and sink combo. Replace dated mirrors with modern versions. Substitute old linoleum or cracking tile with hardwood. Install a free-standing tub. Create a unique walk-in shower with an attractive backsplash and glass doors. Trade out old-fashioned light fixtures for new, fashionable ones. All these changes will make your home more appealing and increase its worth.

Install New Windows and Doors

If you have an older home, chances are your windows are beginning to decay. Also, today’s windows offer better efficiency and provide you with more attractive options. On that same note, older doors tend to be flimsy and made of basic builder-grade materials. New, attractive, eco-friendly windows and doors pour value into your home, provide greater weather protection, save you money on utility bills, and increase curb appeal. While you are at it, think about updating your window treatments. The old, bent aluminum blinds or dated curtains of yesteryears are eyesores that detract from your home’s worth. Trade them out for practical solar blinds, versatile Roman shades, trendy bamboo blinds, eco-friendly woven wood roller shades, or custom drapes.

Make Your Home a Smart Home

Smart home automation is becoming more and more popular for today’s buyers and will soon become a necessity. Automated features under high demand currently are lights, thermostats, doorbells, locks, home security, and major appliances. Making your home a smart home is a great way to get the most bang for your buck. Installations are relatively inexpensive, and the increase in value is substantial.

These are a few simple changes that you can make to increase the value of your home. Every dollar added to the value of your home equals that much in additional equity. Many of these upgrades will also provide a better lifestyle for you and your family, boost your entertaining power, and be more energy-efficient. Updating your home is always a win-win, for protecting your investment and providing your family with the best possible life.

Read this next: Top 10 Budgeting Strategies To Help You Curb Overspending

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