Whether you’re planning to sell or you’re thinking about renovating, it’s always nice to be able to add value to your home. However, many projects that are supposed to increase the value of your home end up costing more than you could realistically hope to make back. With that in mind, we’ve listed 7 ways to increase the value of your property that won’t break the bank.
Increase Energy Efficiency
An energy efficient home will save you money while living in it, as well as increase your property value if you’re considering renting or selling. The easiest way to ensure that your home fits the bill is to properly insulate it, both inside and out. Adding double-glazed windows and doors will also prevent temperature fluctuations that will increase your electricity bills, as will insulating your attic.
Energy efficient appliances and even light bulbs will also cut down your electricity spending. If your budget can accommodate it, consider installing solar panels; they are a great way to make your home more eco-friendly, reduce your bills in the long run, and make your home more appealing to modern buyers.
Add a Second Bathroom
Homes that have more than one bathroom are more appealing to buyers, as well as renters. Even if you only have a separate bathroom that just has a toilet and sink, it can greatly improve your home value. Ideally, you should aim to add a new bathroom without increasing your spending, so make sure that the layout of your plumbing allows for it, otherwise you may find yourself dealing with a costly project. If you’re working with a blank canvas, consider installing a wet room instead. This works best if you don’t have a lot of space, because you don’t need to worry about adding a bathtub or a shower enclosure.
Upgrade Your Appliances
Modern appliances are a sure way to increase your property value. But it’s no longer just about adding induction hobs and home cinema systems. Nowadays, buyers are increasingly drawn to smart homes. From smart lights and thermostats to home assistant devices, there are plenty of upgrades you can make to bring your home into the 21st century. It’s not only about convenience, but also safety, so consider upgrading to smart carbon monoxide or smoke detectors, as well as smart security cameras.
Repurpose Your Attic and Basement
If you’re only using your attic and basement for storage, it’s probably time to consider repurposing them to add value to your home. Transforming them into livable areas can be done even without making severe structural changes to the building layout. The key, however, is to give them a multi-purpose feel. If several years ago a guest bedroom was desirable, nowadays, you might want to think along the lines of a home office. With more people working from home, it’s becoming increasingly important that a spare room is a functional space. Also, if you have a basement with adequate plumbing in place, consider turning it into a laundry room — it’s another home feature that appeals to buyers and increases property value.
Create Storage Space
Homes that have built-in storage space are always highly valued. Adding more storage space doesn’t have to be costly, but it may require you to think creatively. So rather than turning a bedroom into a walk-in closet, think about the dead areas in your home. One of the best places to install built-in storage is under a staircase, but you can go a step further and turn the stairs into drawers. Beds are also perfect for installing rolling under bed storage. Don’t forget to look up as well: many homes don’t use the vertical spaces they have available, so think about where you can install cabinets or shelves.
Give the Walls a Facelift
A new coat of paint can work wonders on both interior and exterior walls. If you’re redecorating, now is also a good time to get rid of wallpaper, as it’s one of the main things that can put off buyers. Also, take the time to check for any cracks in the walls and seal them as needed. This will not only make your home more visually appealing, but will also increase its energy efficiency.
Improve Your Curb Appeal
This one is a timeless trick that always gets the job done. Strangely enough, it’s also often overlooked. Improving your home’s curb appeal is usually a matter of maintenance, such as keeping your lawn trimmed, painting the exterior walls, fixing cracks in the pavement, or even just planting some flowers. You can, of course, get creative with decorations, but before you turn your lawn into a garden gnome paradise, remember that when adding property value, you should aim to keep your costs low while also adding desirable features.