Owning a home provides more than just security and stability. If you’ve owned your home for more than five years, it might surprise you to realize that you’re living in a goldmine! Real estate assets are known to appreciate, creating an effective hedge against inflation. However, there’s more you can do to increase your home’s value to sell it at a price higher than you initially bought it for.

Consider what home improvements could increase your home’s resale value and generate a good return. For that, here are a few value-adding tips you might need to double down on before selling your home:

1. Elevate curb appeal

Starting with the exterior, you will want your property to stand out in the local real estate market by beautifying the facade. This would mean investing in great curb appeal which serves as a major draw for motivated buyers. After all, no one will agree to your asking price let alone put down an offer when the property looks worn down or outdated from the curb. Freshening up the exterior will not only reel in buyers, but also increase the property’s resale price.

To allow for a good impression and justify a higher asking price for your property, investing in the right curb appeal improvements will be a good start. If your roofing suffers from dilapidation and widespread damage caused by environmental factors, consider replacing it entirely. Go for a metal roof that not only offers enhanced durability and protection, but also provides a more modern look for the exterior. 

Complete the look by repainting exterior walls, especially sections that have undergone fading. Landscaping is also another value-adding factor, so consider adding fixtures like a flower bed and outdoor spaces such as a patio. 

2. Update the interior

From the exterior, work your way towards your home’s indoor spaces, especially the ones that are likely to excite buyers. Opt for improvements offering a high return. Your living room, for instance, should be refurnished if you’re contemplating selling your home sooner. Consider replacing the floors with aesthetically pleasing yet low-maintenance options such as vinyl and porcelain tile. 

You might also want to consider changing the indoor walls to neutral shades of beige and white. If you’re planning for a more modern-looking living room, complement the layout with cabinets, TV consoles, and accessory tables from suppliers like Harmonia Living plus indoor plants that create a more relaxing atmosphere. 

Other than the living room, you should also set your sights on improving the kitchen and the master bedroom. When it comes to refurbishing the kitchen, consider adding extra storage spaces for pots, pans, and utensils as well as a countertop or center island, in case it doesn’t have one. It’s also important to invest in energy-efficient appliances such as a new refrigerator and gas range. For the master bedroom, opt to install a walk-in closet and a half bath. You might also want to change the color scheme and flooring.

3. Upgrade for energy efficiency

Today’s home buyers are meticulous when it comes to choosing living space that could save them hundreds of dollars in energy costs. For this reason, you may have to consider improvements that increase your home’s energy efficiency. 

The most basic of these is improving insulation, especially in areas such as the attic and basement. As you do this, consider the type of material and the right R-value to use for the upgrade. Aerogel, although pricey, works great in terms of providing efficient cooling and heating.

There are other energy-efficient upgrades you can opt for that will make your home appealing to buyers who wouldn’t mind matching your asking price. You can replace outdated lighting with LED bulbs. If you have an outdated HVAC system, you can replace it with a more modern one that comes with a programmable thermostat. Moreover, a solar panel installation can also be the biggest contributor to your home’s resale value. It might seem costly from the onset but the returns are usually massive.

4. Create a home office

With remote work becoming more prevalent, some buyers would instantly fall in love with listings that have dedicated spaces for a home office. Consider adding one to your property at a spot that’s far away from outside noise and allows for unhindered productivity. 

Marketing your property and highlighting this space is guaranteed to draw in offers. However, the biggest advantage of building a home office if you don’t have one already is the extra square footage you gain. This results in a higher appraisal that would justify a higher resale price once you put your home up for sale.

Endnote

If you’re opting to sell your home soon, make sure it has all the right improvements to bump up your asking price. You can then get more value at the negotiating table and use that extra money to buy a better home.