Many homeowners see their houses as more than just a place to live; they see them as a wise investment in the future that will help them grow wealth. They believe that their properties will rise in value over time and that they will be able to sell them for a profit one day. Unfortunately, predicting how much a property will appreciate or depreciate can be difficult due to the numerous variables that influence a property’s value. However, several methods exist for preserving and even increasing a property’s value. If you’re a property owner or a real estate investor looking for things that increase property value, here are some suggestions for improving various areas of your property.
Redoing Your Flooring
Upgrading your flooring is an excellent choice if you seek things that increase property value when they’re improved. Hardwood is a vintage option for flooring renovation. It is also more visually pleasing and durable than a carpet. Hardwood flooring has unrivaled natural beauty and may be used in any setting. However, it is recommended that kitchens and basements be given extra attention. After installation, you can extend the life of your hardwood floors by re-coating or refinishing them every couple of years.
Another option for floors is laminate flooring. Laminate flooring is a wood substitute with a vinyl surface and an image layer printed on top. Laminate flooring is cost-effective and long-lasting, even if it does not have the same appearance as engineered hardwood.
Stone or vinyl are two other options. Stone is a long-lasting material that comes in various colors and forms. However, depending on the material you choose, it can be costly. Vinyl is another easy-to-clean alternative for high-traffic areas such as kitchens and bathrooms. You can’t use a moisture barrier when gluing vinyl flooring to a concrete subfloor. You must ensure that the concrete is completely dry.
Epoxy flooring is another wonderful alternative for industrial property owners and is on the list of things that increase property value. For a variety of reasons, it towers above other flooring options. Epoxy flooring, also known as resinous flooring, is a versatile, long-lasting, environmentally friendly, and stylish option for any surface. It retains its appeal for many homeowners because of its resistance to elevated levels of wear and tear, thereby making it the longest-lasting flooring option. Regardless of your choice, ensure that your flooring upgrade matches the overriding aesthetic of your property and the service demands of the area of the property in which it will be installed.
However, if you feel satisfied with the flooring of your property and don’t think you need an upgrade, regular maintenance of your flooring will be needed to preserve its appearance. For many types of flooring, damp mopping is still the best floor cleaning method. While flat mops are fantastic for everyday dust and light dirt removal, only a good, complete weekly damp mopping with an appropriate cleaning solution can truly give the deep-down cleaning that a floor requires. Generally, floors in high-traffic areas like kitchens, bathrooms, and hallways should be vacuumed every three days and cleaned once a week. While frequent mopping is necessary to keep floors clean, vacuuming is necessary to retain the finish and longevity of the flooring.
Updating Your AC System
Most property owners consider kitchen remodels, house extensions, and other comparable projects on their list of things that increase property value. They frequently overlook an improvement to their air conditioning system. However, an HVAC renovation might be a smarter investment than other house remodeling projects because of its low investment cost. The AC system performs an important function by regulating air movement, humidity, and temperature in a home. If you’ve lived in your house for more than ten years, your AC system will likely be inefficient.
The finest approach to boosting the value of your property in such an instance is a complete AC system replacement. According to the US Department of Energy, a modern high-efficiency cooling system consumes 20 to 50% less energy than an older one. Because of its increased efficiency, a new air conditioning system can save you money over time. Although a complete replacement of the air conditioning system increases the value of your property, it is not the only renovation to consider. If you don’t have the financial means to replace the complete system, you can make incremental changes. A programmable thermostat upgrade is a good option and may save a household 10% on annual energy bills. Other less expensive HVAC upgrade options include filter improvements, air filtration add-ons, dehumidifiers, and duct repairs. Contact several HVAC contractors and inquire about the best value-adding options for your property.
Replacing Your Roofing
A roof replacement is one of the things that increase property value. While you’re still living there, a new roof improves the safety and structural integrity of your property and increases the prospective selling price. While a new roof may appear to be an expensive purchase, its benefits much outweigh the initial outlay. Updating your roof with new materials, colors, or designs will give it a fresh look that appeals to potential purchasers. With so many different roofing styles and materials, replacing your roof is a terrific way to give your home a fresh new look and increase its curb appeal. Having bugs, asbestos-containing materials, rot, or dampness on your roof is hazardous for you, but it is also undesirable for potential purchasers. An assessment by a residential roofing services specialist will indicate problems and damage that could be a source of concern for purchasers. Therefore, updating your roof is an excellent chance to improve your home’s health and safety, which is usually a major selling point.
A roof repair also enhances a property’s energy efficiency. Warm air escapes via the roof, so if it’s in terrible shape or badly insulated, it might reduce your home’s energy efficiency. By constructing a covering that retains heat, a new roof can help solve this problem. Consequently, your house will be warmer, and your energy expenses will be lower. A roof repair will not only be better for your wallet, but it will also be better for the environment. Even if you don’t want to replace your roof completely, required repairs or maintenance must be done to keep your roof waterproof and in excellent condition.
When considering things that increase property value, you should consider adding solar panels while replacing a roof. When a solar panel installation is done together with a roof replacement, homeowners stand to make significant savings. Roofers and solar installers usually have relationships that might benefit homeowners through discounts, which is one explanation for these savings. When you combine a solar panel installation with a roof replacement, you avoid paying for each separately because both are given as a package deal. Solar panels also endure around 25-30 years, which is comparable to a roof’s lifespan. You prevent having to have your solar panels re-installed after upgrading your roof by doing both simultaneously, which can save you money in the long run. If you opt for a solar installation alongside a roof replacement, ensure that the roofing company contracts the best solar company in your location to install solar panels on your new roof.
Adding a Privacy Fence
The construction of a privacy fence is one of the main things that increase property value. When homeowners decide to build a privacy fence, they are generally driven by the potential for increased security, privacy, and aesthetic appeal. From the viewpoint of purchasers and investors, these features increase a home’s worth. Private fences provide privacy as well as an additional element of security. They draw a line between one property and another, indicating where one stops and the other begins. Trespassing is reduced because the fence conveys that anything beyond the barrier is private property.
That said, adding a fence that does not compliment the style and architecture of your home might be worse than having no barrier at all when it comes to enhancing property value. For example, an elaborate wooden fence on a sleek, modern home may seem odd, while a tall stockade fence on a modest Victorian home will appear out of place. To boost the value of your property, make sure the fence matches the style of your home. Lastly, before private fence installation on your property, take into account restrictions in your region to prevent any fines for breaches.
Upgrading Your Kitchen
The kitchen is a terrific selling aspect for home buyers and investors since it is a focal point of the house and a strong marketing element. One of the things that increase property value is upgrading important portions of the kitchen through planned remodels or renovations. When it comes time to sell your home, the benefits will be obvious because the returns on investment are enormous. Begin by considering what will be most beneficial to you and your family. Determine which kitchen components have become less functional due to wear and tear. Then, based on your budget, narrow down your tasks.
Cabinets are one part of the kitchen that you can choose to modify. Painting cabinets, upgrading hardware, or altogether replacing them is a surefire method to transform the aesthetic of a kitchen. Depending on your budget, you might repaint or replace the cabinet (the former costs less than the latter).
Countertops are another aspect of the kitchen that could be targeted for a remodel. Remodeling your countertops gives your entire kitchen a modern look. Still, it can be difficult to decide which type of counters are ideal for you with so many different material options. Quartz, granite, laminate, concrete, and solid surfacing are modern countertop options. Countertops are an essential investment, and an excellent remodel (regardless of which new material you choose) makes the kitchen more attractive and boosts the resale value of your home. Other kitchen areas that could be the subject of a remodeling project include the floors and existing appliances. A multi-purpose work area or a kitchen island could also be added to spruce up the kitchen.
Changing Out Your Garage Door
A garage door is the main focal point and entryway of the home. That said, there are several advantages to updating your garage door. A garage door update lowers heating and cooling expenses, enhances security, and adds exterior appeal to your property.
The inclusion of a smart garage system is one of the things that increase property value. By contacting a garage door service to add a smart system to your garage door, you can improve your home’s overall security. It allows you to check on the state of your garage door from nearly anywhere and, if necessary, open or close it. Thanks to a smart garage system, friends and relatives will be able to access your home without needing a real house key. Furthermore, smart garage doors provide the perfect peace of mind, as you will never have to wonder if you shut your door while you were miles away. Other upgrade options for garage doors include the addition of hardware and windows to allow the entry of natural light.
Taking Care of Your Yard
The lawn can be a source of pride for a homeowner and a haven for relaxing. With a few basic activities and frequent yard maintenances, you can make your lawn maintain a lush and gorgeous appearance. Pruning summer-flowering shrubs hard towards the end of the winter or very early in the spring before new growth begins is an excellent strategy to care for your lawn. Also, ensure you regularly clean up any garbage or large heaps of shed leaves. Mold, disease, and rot thrive in the presence of debris and shed leaves. Do not, however, rake into moist ground. It’s preferable to wait till the weather is hot. Pests such as ants can also be a source of destruction to the yard. Ant removal can be achieved through the application of pesticides and the use of chemicals like borax.
As a homeowner, it’s important that you find things that increase property value. That way, you can get a solid return on investment or even make your property appreciate if you decide to sell it later.