If you’re looking to increase home value then you have to make strategic upgrades. This can make a significant difference. Your real estate investment is one of the bedrocks in planning for retirement. Real estate generally appreciates over time, often outpacing inflation. As mortgages are paid down, of course, homeowners build equity in their properties. You can tap into that via home equity loans. Real estate is a more stable diversification options when matched up against the stock market.
Real estate investors can take advantage of various tax deductions, including mortgage interest, property taxes, depreciation, and maintenance costs, reducing taxable income and improving cash flow.
There are many benefits to making some strategic upgrades to boost home value. It’s up to you to decide which ones are right for you.
Home value: Improve Curb Appeal
First impressions do matter, this is the first thing that potential buyers are going to notice. When you have a well maintained exterior it’s going to make your property more valuable and inviting at the same time.
Fresh landscaping, a clean driveway as well as a well-painted front door can transform the look of your home very quickly. You should consider adding some outdoor lighting and maintaining your lawn as well.
You can make small updates like replacing old house numbers or installing new hardware. You’re going to find that it makes a big difference.
Upgrade Your Windows
Windows play a critical role in both energy efficiency and aesthetics as well. Old inefficient windows are going to lead to high energy bills and a dated appearance.
Investing in a replacement window improves insulation. It will also modernize your home and reduce energy costs at the same time. New windows are also going to provide a lot more soundproofing and security.
This makes your home more appealing to buyers should you decide to sell it one day.
Image: Pixabay
Modernize the Kitchen
The kitchen is often the heart of the home and if it is well designed it can increase your property value tremendously.
You should consider upgrading countertops, adding modern appliances and installing new cabinets as these can make your kitchen feel brand new. Even small changes like updating the lighting or using a fresh coat of paint will enhance the kitchen in a big way.
When you have a stylish and functional kitchen it is a major selling point for your potential buyers.
Home value: Remodel the Bathroom
Bathrooms are another key area that you should focus on. An outdated bathroom can lower your home’s value significantly. While a modern space is going to make a big impact.
Bathroom upgrades do not have to be complicated. You should consider replacing all old fixtures, installing a stylish vanity and adding some better lighting if you can.
If your budget allows you should upgrade to a walk-in shower or a soaking tub because this will further enhance the appeal of your home.
Increase Energy Efficiency
Energy efficient homes are more attractive to buyers so you should try to make yours one. People are always looking to reduce their utility cost.
Installing a smart thermostat, energy efficient appliances and adding insulation can help to lower your energy bills. Features like LED lighting and solar panels are going to add extra appeal to those buyers that are environmentally conscious.
Making your home’s value a priority is something you need to consider. This is especially true if you want to be able to sell the property. There are some simple upgrades that will keep your home looking its best at all times.
Top image: Pixabay
I am a 50-something Torontonian who loves everything about my city. It’s been my home, my playground, for my entire life. I went to school here. I met my wife here. I own real estate here. I love writing about the transformation of my city on the world stage, which hasn’t been anything short of dramatic. That continues on, as I write this. I write on the real estate scene. I write on travel and fashion. I like following the world of luxury watches.
But I love writing about cars – check that, luxury cars, a level of superior, engineering sophistication, high performance and style, that transports you not just from one destination to another but also out of whatever you are going through on a particular day, whatever mood you are in, all to another head space. It’s complete and total exhilaration, head to toe.
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