8 Ways To Increase Your Home’s Value

how to increase your home's value
Whether you’re looking at selling your property immediately or not, increasing your home’s value pays off in the long run. The right upgrades will not only boost your sale price, they can improve your quality of life. Keep reading for 8 of the best ways to boost the value of any property.

#1 – Upgrade to High-Demand Finishes

If you happen to want to sell your home in the near future, one of the best ways to increase value perception is by choosing fixtures that are popular amongst buyers at the time. Examples include high quality marble or stone countertops, and updated fixtures such as tapware in trending finishes.

You can make smaller changes as well, which will also improve buyer interest and keep costs low. For example, changing old doorknobs and locks to modern ones, and swapping old yellowing incandescent bulbs for brighter LED bulbs can create a big difference to the overall appeal of your home.

#2 – Improve Curb Appeal

Your home’s curb appeal is the first thing potential buyers are going to see when they come to look at the property, and it’s known to affect the outcome of property appraisals too.

In short, you need to make sure that the exterior of your home encourages all potential buyers to walk in and see more. For free-standing homes, this means keeping your outdoor landscape and frontage in very well-maintained condition.

If your front exterior doesn’t look as good as the neighbour’s, consider repainting or replacing the door or planting new shrubs and flowers. You may also want to get your driveway or front footpath professionally cleaned and tidied.

#3 – Undertake Plumbing Upgrades 

According to this Plumber Rose Bay, upgrading the plumbing system in your home has myriad of benefits when it comes to increasing the home’s value. It can improve the functionality of your kitchen, bathroom, and other areas where plumbing is essential. This can make your home more comfortable and convenient to live in, which can increase its value to potential buyers.

Modern plumbing fixtures are designed to be more energy-efficient, which can lead to lower water bills and energy costs. This can be a significant selling point for buyers who are looking for homes that are eco-friendly and cost-effective.

Plumbing issues like leaks and burst pipes can cause significant water damage. By upgrading your plumbing system, you can prevent these issues from occurring and protect your home from potential damage. This can give buyers peace of mind knowing that they won’t have to deal with costly repairs in the future.

Plumbing upgrades can include adding features such as a new bathtub or shower, a modern sink or faucet, or a new toilet. These upgrades can enhance the appearance of your home’s bathrooms and kitchens, making them more attractive to potential buyers.

#4 – Reduce Energy Costs

What you spend on energy each month may seem like a fixed amount, but some utility companies offer free energy audits which help you maximise your home’s energy efficiency. Having an energy-efficient home will help you save money and appeal to future buyers. And remember that any money you save can be used for other updates and upgrades to your property.

You can take simple steps to improve energy efficiency, too. For example, if you plan to upgrade to new appliances, find energy-efficient ones. It may also be a good idea to install a smart thermostat to better control your home’s heating and cooling system, which will help you save money. 

#5 – Increase Your Home’s Footprint

The square meterage of your home obviously has a huge impact on its value, and price per square metre is one way to compare homes with similar sizes and styles. Even if the appraiser doesn’t acknowledge the value of this additional space, most buyers will notice.

While adding on a room is the most obvious way to make your home larger, you can also create additional living space by building a deck, installing a granny flat/studio, or fitting out your basement.

#6 – Install a Water Filtration System

Installing a water filtration system in your kitchen offers another money-saving upgrade that can also increase your home’s value. This system will not only purify your water but also reduce the weekly shopping bill as you no longer need to splurge on bottled water. Most filtration systems are fairly affordable, and it’s a mod-con that many buyers will love.

#7 – Re-Paint

If your home seems dull and worn on the interior, painting is a quick and easy way to increase your home’s appeal and add an instant update. Consider adding a fresh coat of neutral paint throughout all rooms. It is recommended to avoid using anything too bold as it can be distracting to potential buyers and make it difficult for them to imagine themselves living in the home.

#8 – Replace Worn Rugs and Carpeting

Nothing will turn potential buyers off faster than poor flooring or carpeting. While you may want to replace all the flooring in your home, this can be costly.

If you have a limited budget, start by replacing any rugs that are past their prime and cannot be brought back to life. If you have a bad patch of carpet that cannot be remedied, then invest in a new rug or mat to cover the area. This is also a great opportunity to add a contemporary style update to the affected room.

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