Homeownership still remains the great American dream, with the country’s homeownership rate currently standing at 64.8 percent. It’s a slight increase since 2016, when the rate stood at 63.5 percent.
One of the first things new homeowners embark on after purchasing a home is to focus on boosting their property value. With the median home price in America reaching approximately $295,300 as of June 2020, many smart homeowners are looking for ways to make sure their properties beat that value.
Increasing property value can do more than just make sure you get a higher price should you decide to sell your home. It can help get your home to sell faster.
In today’s post, we outline eight top projects you should focus on when keen on improving property value in Charleston. Let’s get started.
Focus on Finishes That Are in High Demand
For Charleston homeowners looking to sell their homes soon, the best way to drive buyer demand up is to focus on upgrades that are currently popular among homebuyers. Quartz countertops in the kitchen are a good example.
Other smaller finishes, such as switching to brushed nickel material for your doorknobs and locks, can also make a huge difference. For those still using incandescent bulbs, swapping them out for LED options can attract buyers more.
Splash Some Money on Your Kitchen and Bathroom
Your bathroom and kitchen are the two rooms in your entire house that make the most powerful impression on potential buyers. Often, these two spaces fall out of style faster than other areas in your home.
That’s why you need to prioritize your kitchen and bathroom during your Charleston home improvement project. The best thing about these two rooms is that remodels have impressive ROI. For instance, you can expect over 70 percent ROI on your bathroom remodel alone.
Choose Energy-Efficient Home Features
People are big on eco-friendliness at the moment. Homes that have energy-efficient features are generally more attractive to homebuyers for their lesser impact on the environment. Besides, energy efficiency means greater savings on utility bills.
One of the ways to make your home more energy-efficient is to upgrade to a smart thermostat. When buying new appliances, such as a furnace or a microwave, consider Energy Star-rated options. Such appliances are generally known to consume less power.
Expand Your Home’s Finished Square Footage
Building out unfinished areas in your home can be an affordable way to boost your home’s value. For instance, an unfinished area can easily be turned into an extra bedroom. Increasing your house’s footprint can instantly give you extra living space while enhancing its value.
In most areas, the price of a home is obtained by multiplying its square footage by a rate comparable to that of similar homes in that community.
Add a Deck
If your home doesn’t already have a deck, talking to a Charleston deck installation expert should definitely be in your plan. You’ll be pleasantly surprised by all the available ways to enjoy your deck once you’re through with the project.
More importantly, a new deck has one of the most impressive returns of all home improvement projects. You can easily recoup 70 percent of what you spend on the deck installation project.
Be sure to consider the overall quality and attractiveness of the deck to attract potential homebuyers. A well-done deck significantly enhances your home’s curb appeal and will have your home receiving more offers.
Add a Fresh Coat of Paint
If your home looks a little worn, whether inside or out, consider a new coat of paint. It’s one of the most affordable home improvement projects and one that can have a massive impact.
The best thing about painting your home is that you can do it yourself. Identify all the rough spots that need painting, or consider painting the entire house. A bright coat of paint will leave previously drab surfaces looking new and charming.
Spruce Up the Landscaping
You always hear real estate agents insisting on curb appeal. That’s because first impressions matter a lot when it comes to selling a home. A powerful first impression can get your home to sell faster and for a better price.
Thankfully, you don’t need to spend a fortune when it comes to landscaping. Even some modest enhancements to the front of your home can make a big difference.
Keep your lawn mowed and your garden tended. These simple actions will impress both home appraisers visiting your home and prospective home buyers.
If you just bought your home and don’t plan to sell it soon, start planning for the future by planting shade trees. As these trees mature, your home’s value will only increase.
You can never have too much storage. Expect buyers to be looking for as much inbuilt storage as possible. It’s better to have an overabundance of cupboards and free-standing wardrobes than to have less.
Consider installing built-in wardrobes in your bedrooms and a walk-in wardrobe in your master bedroom if possible. Add storage in the laundry room as well. Buyers will appreciate it, and you’ll get better offers for your home.
Increasing Property Value Does Not Have To Be Difficult
Increasing property value involves knowing which home improvement projects to put your money in. The projects we’ve suggested in this guide are not only affordable but also give you impressive ROI when the time for selling your home comes.
Are you interested in improving your home so you get a better price for it? Please contact us today.