Whether you just bought a house or you have lived there for a while, the fastest way to increase your home’s value is by making a plan. Take the list of projects you want to complete and categorize them by how much it will cost, including your time and money. Be realistic. It’s OK to list an outdoor pool with a waterfall, but keep your financial picture in mind. You may need a Home Improvement Loan to meet your goals. Once you’ve done the research and made a plan, it’s time to put your plan into action.
Follow these tips, and your home will be worth more before you know it.
- Tackle one room at a time. If you set out to paint a living room wall on Saturday and you know what it will cost in time and money, it gets done. By the end of the day, you have a stylish upgrade that will add value to your home. By planning, you will see your dreams take shape as you transform each room before moving on to the next and not getting caught up in half done projects all over your house.
- Small improvements can really pay off. Are you torn between improving your home’s decor, versus making upgrades you know will increase your home’s resale value? Many homeowners are surprised to hear that doing a little bit of both will pay off. So, grab that Pinterest idea and get to work.
- Curb appeal counts. Want a fresh perspective on the value of your home? Walk across the street, turn around and ask yourself, “Does my house have curb appeal?” Does your home look attractive, welcoming and structurally sound at first glance? With spring right around the corner, I plan on updating my curb appeal by refreshing our landscaping with the addition of new flowers, mulch, and rocks. The old saying is “don’t judge a book by its cover”, but when you’re selling your house the outside is the first thing they’ll see so it’s important to consider your curb appeal. Update your cover so others will want to see more of the inside.
- Weigh the benefits of upgrading versus selling. Should I stay or should I go? It’s a question many homeowners face. Here is how to tell if there is more value for you in fixing up, or moving on. First, estimate the costs in buying a new home. Make sure you add in the realtor, moving company and new loan financing. Don’t’ forget the minor updates you may need to do to your current home to get it ready to sell. When it’s all is said and done, you may find out you get more equity by staying in your home and remodeling. Use the equity in your home to make those changes and freshen up your home.
- Pay down the principal on your loan. As you make all those home improvements, don’t forget the cash. Your financial strategy can boost your home value in a big way. Refinancing is a chance to switch up your loan and try something new. Use the cash you could gain in refinancing your home to make those home improvement changes.
If your home is new, get to know it. If you have already been there a while, get started. Love the home you live in.
Until next time,