How to Increase the Value of Your Home
Updated March 1, 2017 . AmFam Team
If you’ve made the big decision to sell your home, you may be looking for advice on how to add value to your home. We’ve got some helpful tips, just for you! Ranging from recruiting an interior designer to installing new carpets, we’ve listed 11 ways you can raise your home’s value.
Start your checklist and pick the home improvement projects that best fit your budget and provide you with the most return.
How to Start Adding Value to Your Home
Boosting your home’s resale value is really about knowing where to invest. But how do you make that call? Small purchases can sometimes result in big results that seemingly add instant value to your home. Take a look at these great ideas to crank up your curb appeal:
Recruit a professional
It’s important to take the time to meet with a realtor or interior designer and walk through your home together. Their professional eye might see something that you didn’t. Keep in mind, most realtors will do this as a courtesy, but a professional designer will probably cost a fee.
Hire a home inspector
There’s more to selling your house than making it look pretty. Be sure to hire a professional home inspector to check your house from top to bottom — including the roof, foundation, plumbing, hidden water leaks, electric systems and anything that seems small but could potentially become an expensive problem later on.
Care and maintenance
Is your faucet leaking? Does the toilet run? From carpet stains to light fixtures, potential buyers are going to come in and examine everything with an eagle eye (as you should when looking for your next home), so make sure your plumbing’s working properly.
Make a checklist
Save time and money by planning and creating a list of every suggestion made by the professionals. How much will it cost to fix, add or renovate? Have an idea of how much value will be added to your home with each recommendation, so you know the return on investment.
Add Value With Home Improvements
Although it can seem counterintuitive to invest in upgrades that you won’t benefit from, the truth is: you will, financially. If you follow the advice and direction of your relator and inspector, you’ll know where to aim your cash to bring about a change that can result in a real return on investment.
Upgrade your kitchen
Most real estate experts agree that the kitchen can make or break home sales. And you don’t necessarily have to spend big bucks on costly remodel projects to add value to your home. Even minor updates that you can do yourself, like a new sink or countertops, can boost your home’s resale value.
Improve the bathroom
Bathroom upgrades are widely seen as a cost-efficient way to add value and appeal to your home. Start by re-caulking the tub, sink and shower to fix any broken or cracked seals that could lead to mold or water damage.
If you have it in the budget, update the bathroom’s look with a new countertop, sink, faucet or toilet. Consider replacing the floor and finishing things off with a fresh coat of paint to increase your home’s value.
Redecorate with paint
If you’ve got rooms with bold colors, design experts recommend painting over with neutral shades. This way, it’s easier for the buyer to picture their own color preferences without being distracted by loud walls.
Create space
A simple, inexpensive way to increase the value of your home is by making it look bigger. Stage your furniture to best fit the space or remove certain pieces to add air to your home. An open-floor plan is on a lot of buyers’ lists, so work with what you’ve got to make the most space.
Aim for light window treatments
A small detail that often goes overlooked are the windows in your home. Many curtains are bulky and block light from entering the room. Make sure your windows let in as much light as possible to really give the room an attractive appearance.
Add a layer of flooring
A stained, worn carpet can diminish the perceived value of your home. If you have the budget for it, new carpeting or other manufactured flooring options can help add real value to your home.
Budget for lighting upgrades
The right lighting in a room can make all the difference. Install dimmable lights so people are in control of the ambience in each room.
Which Home Improvements Add the Most Value?
Getting your home in shape for the market means investing in projects to increase your home’s value — plain and simple. But you may be surprised where your dollars will do the most for you:
Replace your garage door
Curb appeal and alley appeal mean a lot to buyers and brokers. Invest a few of those hard-earned dollars and get an upscale garage door that makes your home look beautiful.
Replace your old windows
Few things speak to buyer's concerns more than new windows. Their presence means a warm, reliable home in the winter and a cool, comfortable space in the summer.
Rebuild your deck
Again, it’s those new man-made decking materials that buyers seek because they’re bound to last longer and won’t require as much annual maintenance.
Apply manufactured stone veneer to your exterior
New technological advances in stone veneer can quickly add an air of elegance to the exterior of your house.
Adding Curb Appeal
From replacing tired flower beds to busting out your cracked driveway to make way for a new one, there’s a lot to be said for curb appeal and first impressions. Take a look at these ideas to help you sell your home at a higher price.
Landscaping
People often judge a book by its cover, and in this case, the outside of your home is what buyers will judge first. Make sure your lawn is healthy, weed-free and freshly mowed. Likewise, it’s smart to prune trees and shrubs, weed flower beds and add potted plants around the garage and entrance.
Front-door makeover
The front door can be a crucial focal point of your home’s curb appeal. Think about painting the door with a distinctive color, or if you have the funds available, consider replacing it with one that’s eye-catching and up to date.
Replace concrete sidewalks and driveways
If your property’s walkable and drivable surfaces are uneven, they’re more than just an eyesore. Buyers may find that an otherwise attractive home isn’t worth the investment because of what it’s going to take to replace them. Get that hard work done for them and fold the cost — plus a little more — into your new asking price.
Take The Next Steps Towards Your Dream Home
Open the shades, let some fresh air in and get excited about adding value to your home! Consider trying our other ideas for appraising and staging to sell your home. That way, you can confidently focus on finding the next special place where you can pursue your dreams.
Before moving into your new place, talk to your American Family Insurance agent (Opens in a new tab) and check out our homeowners or renters coverages to make sure your hard-earned dream never goes unprotected.
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Your home is more than a roof over your head. It’s where your dreams grow, your family thrives and memories are made. But the possessions you keep inside are important, too.
Whether you’re renting an apartment or own your home, you’ve most likely got an insurance policy designed to protect your dwelling and the things inside. Should the unthinkable happen and you have to use that insurance policy, it’s important to have a plan in place. And a home inventory list is a great way to get started!
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What Is a Home Inventory?
Quite simply, a home inventory is a complete list of all the items, especially valuables, in and around your home. The best home inventories include photos, descriptions and dollar values of each of your belongings. The more detail, the better! It’ll help you provide a comprehensive list to your agent of items lost in the event your home is damaged or destroyed, allowing you to get the most out of your coverage.
When your describing the items in your list, remember that the more information, the better. Here’s a quick reference list of the type of information you should include in your home inventory list:
- An in-depth description of the items. For example, rather than writing down “diamond ring,” be more descriptive, such as: “an emerald cut diamond ring, with white gold shank, accent stones and initials inscribed below the bridge.”
- Make, model, and/or serial number of the items.
- Date of purchase, receipts and photos.
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- Appraisals at time of purchase. Especially if your items were appraised for insurance purposes.
Why Do I Need a Home Inventory?
Whether you’re a homeowner or a renter, everyone can benefit from a home inventory!
If you ever have to make a claim, a home inventory is a great asset to have, especially after stressful events like theft, storm damage or a fire (take a look at how one renter used their home inventory after facing an apartment fire).
When you make a claim, you typically submit information on everything that was lost — which can be difficult to do off the top of your head for all your possessions. Remembering to replace your TV or computer are no-brainers, but when it comes to remembering each piece of jewelry in your jewelry box, things tend to get overlooked. Having a personal property inventory will help, along with knowing how to properly insure your jewelry.
When you have your home inventory checklist, you know exactly what needs to be replaced, and you’ll have peace of mind knowing your entire household is protected.
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Here’s Why Your Roof Is Leaking
The list of reasons why your roof is leaking may seem long, but don’t worry — when it comes to finding the leak and fixing it, the finding is the hardest part. And the good thing about these problems? They can all be fixed. Check out the list and see what’s troubling your roof:
Your roof is old
Roofs don’t last forever. Protecting your home and everything inside it from the elements comes with a cost. And with all that rain, snow, ice, wind and even sunlight wearing down your roof, it becomes more susceptible to leaks. Every roof will eventually need to be replaced, so learn more about how long your roof should last based on what it’s made of.
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There’s no good time to find out your roof needs repair — but you may be able to mitigate that pain by routinely checking your roof for damage after severe weather. Waiting for a leak or damage to present itself gives the problem time to grow and worsen.
And sometimes, you’ll be faced with expensive roof and interior damage repairs if you’re not diligent. By being proactive and checking your roof for damage after severe weather hits can help your roof — and your savings — stay healthy.
