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Tips to increase your home's value

homeownership
Tips to increase your home's value

Many people consider making improvements to their home in hopes of selling it for the highest price. There are many things, big and small, that homeowners can do to upgrade their home and boost their property value. Below are 6 tips that may help to increase your home’s value:

Hire a professional designer or contractor for a consultation

If you’re struggling for where to start to increase your home’s value, talk to a contractor or designer. They can visit and assess your home, consider your budget for improvements, and provide a blueprint for changes you can make. Think of it as buying a turn-key instruction manual for increasing your home’s value!

Improve your home value by enhancing your "curb appeal"

Curb appeal—the attractiveness of your property when viewed from the street—represents your home’s first impression to potential buyers. Attractive curb appeal can drive up the selling price.

To ensure your home’s curb appeal is at its best, make sure the exterior of your home and your lawn are in top shape. Whether you try dressing up the front door, installing outdoor lighting, planting colorful flower beds, or applying a fresh coat of paint, there are plenty of ways to easily give your home’s curbside look an extra “wow” factor.

Create more open living spaces

Gone are the days when buyers preferred having as many rooms as possible. People are now gravitating toward open, spacious floor plans when looking for homes. Find your non-structural walls—or perhaps an obstructive kitchen island—and remove them. The open flow is captivating for those who can afford to create their own aesthetic—exactly the type of buyers a seller wants to attract. For such a dramatic change to your home, it sometimes can be accomplished for a relatively small cost.

Focus on bathrooms and kitchens

If you’re renovating on a limited budget, focus on the bathrooms and kitchen. Depending on your budget, even minor updates to these two spaces can dramatically affect your home’s appeal and value. If you don’t have the cash on hand for a full-out kitchen renovation, focus on swapping out individual items, such as a stainless steel sink or new microwave, to start adding value to your home. Even small updates to the bathroom—like replacing dated wallpaper or replacing old lighting—will make a big difference without putting a big dent in your wallet.

And, if you are looking to take on a full renovation but don’t have the cash on hand, a Homepoint HELOC, or home equity line of credit, may be an appealing option.

Make small changes for big improvement

There are many inexpensive ways to add functionally and aesthetically pleasing features to a home that can attract buyers. Consider replacing your old thermostat with a new smart home model, installing a ceiling fan in the bedrooms, adding a water filter to the kitchen sink, or adding a closet system in the bedroom. Buyers will appreciate the added value of these amenities, meaning they will add value to your home as well.

Improve your home's air quality

Have you ever left on vacation, and came home to find your home has a certain smell? That’s how your home always smells—you’ve just gotten used to it. While it may be a subtle nuance, it may also be an indicator that your home may be hiding contaminants and allergens (possibly in your carpets). Ideally, you should hire a professional company to test your indoor air quality. If the results prove that your carpets should be replaced, choose environmentally friendly products like tile or laminate floors, which can also be more appealing to buyers.

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