Increasing Your Home Value

Taylor Yates  |  November 3, 2022

Monthly feature

Increasing Your Home Value

It doesn’t matter if you’re looking to sell in the next year or feel as if you're sitting in your forever home – when making improvements to your home, it's always nice to know that you're adding value that maybe one day you can cash in on. 

For those considering selling their home soon, it's particularly important to consider value-add projects with the most significant impact on sale price. 

Every home has different requirements, but to help you decide which project is best to take on next, we have put together a list of small and simple home improvement projects that will help increase the value of your home.

 

1. Smart technology makes for a smart home.

Smart home technology is the leading trend in real estate, and it may surprise you just how much its incorporation into your home can add to the value of your property. Consider adding smart LED lightbulbs, USB integrated smart plugs, a smart lock to your front and rear door, and helpful light sensors. However, smart home technology goes above and beyond your Ring doorbell. Today, a smart home is also a healthy and eco-friendly home. Buyers are increasingly asking about air purification devices and solar technology. Add value by making your property smart, clean, and eco-friendly. 

 

2. Check your curb appeal.

Almost daily, we talk to sellers who are surprised by just how much their property's curb appeal is impacting the value of their property. Fortunately, improving curb appeal doesn't always have to cost an arm and a leg (however, a bigger budget can transform a home). Start by cleaning up your vegetation, painting your front door, and adding some pops of color with seasonal flowers. If you want to have an even bigger impact to truly wow potential buyers, consider giving the exterior of your home a fresh and modern color refresh or add an outdoor 'living space' in the form of a deck or patio.  

 

3. Add square footage.

Do you have an unfinished basement or attic? Well, you may be sitting on a gold mine. When finished, these spaces can add impressive value to a property. An underutilized space could be your opportunity to add that much-needed bedroom or, perhaps even better, work-from-home space. The remote work trend is here to stay, meaning that many buyers are looking for properties with separate office spaces that can be their work-from-home haven. 

 

4. Kitchen renovation or refresh.

If your kitchen is still giving you 90's flashbacks or is missing some key elements (hey, wine-fridge, we are looking for you), then it might be time to set the budget aside and give the heart of your home some much-needed love. If you’re looking for a high return on your investment, consider a kitchen refresh with a fresh coat of paint,  new countertops, and updated appliances. These changes can add tens of thousands of dollars to your home. 

 

The kitchen is usually the first room a buyer looks at, so improving its style and functionality will significantly impact your home's value. 

For more advice or guidance on how you can add more value to your home or on how to prepare it for sale, get in touch with the Yates Team.


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