Adding value to your home can be a great thing. You don’t need to completely renovate your property to improve your return on investment (ROI). In many cases, smaller upgrades can increase the value of a home by thousands of dollars! Let's take a look at a few of the home improvements you can make to add instant equity to your home.
Make it look bigger. You don’t need to start knocking out walls in order to make your home look bigger than it really is. Staging experts have developed dozens of different tricks that make rooms and hallways look larger. That includes letting in as much light as possible, painting the walls bright colors, and putting mirrors in each of the rooms.
- Improve the kitchen. Most real estate experts say adding to your kitchen is a great way to increase the value of your home. Updating the flooring, cabinets and appliances is an easy way to capitalize on your investment.
- Add more house with an addition. Whether it's another bathroom, an additional bedroom or a whole new level, adding square footage adds value to a home.
Pick neutral colors. Adding a fresh layer of paint to your walls is one of the most cost-effective ways to increase the value of your property. Not only is this renovation project affordable, but many homeowners can actually do it themselves. As you are choosing a new palette, you must stick to colors that will be appealing to as many people as possible.
Service the main mechanical systems. Installing a high-efficiency HVAC system or new water heater can be a great investment, but you might not be ready to spend that much upgrading your home. Contacting an HVAC contractor to service those systems is a quick and affordable way to make sure that they are running smoothly and efficiently.
Spend more time on curb appeal. Never underestimate just how much curb appeal will affect the value of a home. While you don’t need to spend thousands on landscaping, you can spend a little extra time cleaning the yard to make it as eye-catching as possible. Throwing away dead foliage and planting a few vibrant flowers can have a major impact on the appearance and appeal of your home.
The good news is that these improvements aren’t only aesthetic ones; they’re also cost-effective and they’ll add value to your already major investment. There's even renovation mortgage products that can help during these times. These government-backed loan programs can finance repairs, renovations and home improvements into a mortgage instead of drawing on the current equity. Learn more in our renovation guide below!