Nowadays, it is an excellent idea to consider our homes as an investment and an asset in addition to just our home. The real estate market has already overcome the decline it had several years ago, and the reality is that many houses have been revalued. Their price has increased considerably in recent years. The houses that were renovated have appreciated even more and sold for a better price.
However, this is not an exact science. Many factors continually influence the appreciation of a house; the demand and supply of houses in your neighborhood, location of the house, market prices, among other things. Besides, you also have to consider that there are times when the real estate market is on the rise, and maybe you can be lucky that when you decide to sell your home, it is a good time to do so. According to a recent study, people who bought a house in the last few years estimate that they will live in it for at least 15 years. In contrast, the sellers at that same time lived in their homes for an average of 9 years.
The foundations to your house is something tht will be scrutinized by any building inspections company. If you;re house is in need to re-stumping, you should investigate the cost of restumping your house as a first step. So, if you’re wondering if you can increase the value of your home, the answer is yes! If you think you will sell your home one day and want to revalue it, an excellent option is to perform these
HOME RENOVATIONS THAT WILL INCREASE THE VALUE OF YOUR HOUSE.
One factor that has a significant impact on the revaluation of homes is the bathrooms. When a potential buyer visits a house, he immediately notices the bathrooms. So, a good idea is to renovate your home’s bathrooms and if you only have one, add more. This is because people are increasingly looking for homes with more bathrooms, and the current average is 2,6 bathrooms.
When you start the renovation, it is essential to set a budget and always try not to exceed it. The bathrooms are an important area of the house, and anyone who wants to buy a house wants the bathrooms to be elegant and modern. Besides, the variety of bathroom accessories is enormous, so be careful not to go over budget.
Renovating the kitchen is a great way to increase the value of a home. There are many styles to renovate the kitchen in, including modular kitchens, which are practical, elegant, and are installed quickly. It is advisable to hire an expert in renovations. He will know how to guide you properly and give you the best budget to leave your kitchen impeccable. Keep in mind that the cost of a kitchen renovation can vary according to the current state of your kitchen, but the final result will be fantastic and will greatly increase the value of your home.
The money spent on a renovation should not be considered an expense but an investment since it will generate a return in the long term. Besides, you also have to think that whoever buys your home will probably not want to make any renovations and will want to move in as soon as possible.
HOUSEHOLD APPLIANCES AND SYSTEMS RENOVATION
A smart way to increase your home’s value is to solve all the problems that may exist in the systems of the house and renew the appliances. It’s good to inspect the house and verify that the systems are in good condition and repair those not working. If a whole pipe needs to be replaced due to a small leak, it is ideal to do so. Remember that these are small details that can influence the value of your home, as well as old appliances that do not work correctly.
For example, if your electric water heater is already worn out and not working correctly, you should replace it with a new one. Another factor that cannot be overlooked is the condition of the roof. If there is any part of the roof of the house that needs to be repaired, it is advisable to do so, since a roof in poor condition can considerably reduce the house’s value.
Many people underestimate the value that the backyard can have and do not give it the attention it needs. Any buyer will fall in love with a beautiful and well cared backyard. Besides, backyard renovation projects are not very expensive, and the % return is very high, on average, over 70%. So, please don’t skimp on your home’s patio renovation to give it a unique and modern touch and increase the value of your home.