Are you ready to move on from your current home? Thinking about moving closer to family or friends in the next few years? While it might be sad to say goodbye to the home you’ve grown to love, don’t forget that your home is an asset with immense value! With the right updates, you can increase your home’s resale value and open up even more purchasing possibilities for your next home. Here are a few ways to do just that.
Install Outdoor Lighting
Interior improvements are often the first place homeowners start when they think about increasing their home’s value, but updates to the exterior can have a positive impact as well. Landscape lighting installed along walkways, near garden beds, and around outdoor living spaces can increase your home’s value. If you install color-changing landscape lights, not only does your home’s value increase but there’s a better chance for your home to move to the top of a prospective buyer’s list. Can you think of a better selling point than never having to wrestle with Christmas lights again?
Pave Your Driveway
Paving a driveway is expensive, but keep in mind that the cost of paving increases your home’s value by at least the same amount. Depending on where you live, a well-paved driveway can increase your property value by tens of thousands of dollars and improve your home’s curb appeal.
When it comes to driveway paving, you have two main options, concrete or asphalt. Asphalt has increased in popularity over the years because it is easy to make minor repairs to cracks and chippings. Concrete is a stronger material than asphalt, and if it is properly cared for, a concrete driveway can last for up to fifty years. Concrete can be easily stained by oil or other vehicle fluids, however, so if you’d rather have a clean surface, asphalt may be the best choice for you. No matter which surface you choose, your home’s value is likely to increase.
Update The Bathroom
The bathroom is the room that can really make or break your home sale. Outdated hardware and old-fashioned fixtures can turn away prospective buyers who see it as a project they don’t want to have to tackle themselves. The truth is, however, that updating a bathroom isn’t as big of a project as it might seem. A new coat of paint and swapping out old-fashioned cabinet hardware might be all it takes to give your bathroom a modern, attractive feel. By investing a little time and money, you can greatly increase your home’s resale value. If you’re not looking to sell for some time yet, updating the bathroom is still a good first step when considering your own home improvement projects. That way, if you happen to find any plumbing or sealant issues, you’ll have plenty of time to address them properly.
Replace Your Carpet
Another common project that can turn off prospective homebuyers is having to replace carpets. There are always a few things homebuyers will want to do to make a space feel like their own, such as painting rooms or changing window treatments. Replacing carpets, however, is a time-intensive project most people would rather avoid. Depending on the rooms that need an update, it could even push back a move-in date, which can add stress to the process and turn away those who are under a strict moving schedule.
If your carpets are looking frayed and worn, replacing them with new carpets will make your home feel clean and new. If you have the budget to install hardwood floors instead of replacing them with carpets, experts suggest that you consider doing so. Homebuyers prefer hardwood floors, especially in their living spaces. Just like paving your driveway, the cost it takes to install these floors will be directly reflected in your home’s increased value. Whether you spring for hardwood floors or stick to carpet, updating your flooring will ensure the focal point of each room is placed in a positive light.
Leaving your current home may not feel so great in that moment, but making a few updates will ensure it increases in value and brings you long-term rewards.