We are turning the page to a new year, allowing for new opportunities to for personal, financial, and homestead growth. Yes, the current economic situation is tough; prices for everything are higher than before. So, the prospect of home renovations can be daunting. Still, home improvements that improve the resale value are worth considering. Not all home improvements need to be large; and even some of the smaller tasks (less expensive) can yield the largest resale value increase.
A home can be improved in many ways. So, it is hard to determine which improvement will increase the resale value of your home. On that note, we will point out 8 high-value improvements/repairs that can transform your home into a more desirable and valuable asset for future home buyers. In addition, you can enjoy the repairs and upgrades while continuing to live in the home.
8 Hacks to Increase Your Home’s Resale Value
According to Bankrate’s “Delayed Financial Milestones” survey, around 25% of Americans have deferred home improvements due to economic uncertainties. Despite that, almost 14% of Americans are encouraged to take out loans for home renovations. Therefore, you should be very careful about which home improvements to make and which not.
For your convenience, we have sorted out the 8 best ways to improve the resale value of your home. Let’s check them out…
#1 Upgrade Your Floors with Coatings
Enhance the look and feel of your space with professionally applied concrete coatings. This type of coating protects the floor against stains and spills. Plus, concrete coated floors are very easy to clean. Most homeowners find the value in adding floor coatings to their garage, front porch, pool area, or even basement.
However, before installing floor coatings, you should repair old, cracked or uneven floors to improve the inner aesthetics of your home. Companies like PolyMagic offer concrete lifting and leveling (polyjacking) before the coatings process begins. A new floor with coatings leaves a lasting impression on potential buyers. Overall, floor coatings can drive up your home’s demand, and it is within your reach.
#2 Revitalize Your Walkways with Concrete Lifting
We briefly touched on the concrete lifting and level process in the above section, but this is a separate issue. Make a positive first impression by lifting settled and sunken concrete. It is MUCH less expensive to repair your existing concrete around your sidewalk, garage, porch, patio, driveway, and pool area than it is to replace. If you are thinking about listing your home soon, it’s important to know that potential home buyers are looking at every detail. They can pull up to your home and see the uneven concrete and immediately develop a bad taste because of such a fixable issue. Showcase a well-maintained exterior to potential buyers after concrete lifting. They will get a signal for proactive homeowner care.
It is suggested that you get professional leveling services. Companies like PolyMagic are located in the Kansas City and Columbia, Jefferson City, and Lake of the Ozarks areas and can bring you the most effective, less invasive, and quickest method, polyjacking.
#3 Install Egress Windows for Extra Space
Another Insider Tips to Elevate Your Home’s Resale Value is to maximize your home’s square footage by installing egress windows. This approach is particularly effective for basements turned into bedrooms or living spaces. This is something creative, and buyers will certainly like it.
Your home’s resale value will immediately increase by $30,000 to $75,000 by adding an egress window. However, you need to make sure your chosen egress window meets International Residential Code requirements. Otherwise, you can’t transform spaces legally into bedrooms.
#4 Add Elegance with Tray Ceilings
Incorporating tray ceilings has been a traditional way to improve a home’s resale value. People have seen a rise in their home’s value after installing tray ceilings. So, you can install tray ceilings in various rooms.
Tray ceilings always add an elegant touch. They allow for creative lighting options like center fixtures or wall-wash lights. To elevate the overall appeal of a room, you can try customizing a tray ceiling with decorative elements like crown molding.
#5 Modernize Your Kitchen with Tile Backsplashes
Recently, tile backsplashes have become a new trend for kitchen renovations. They give a modern and sleek look to your kitchen. Additionally, they are highly durable and customizable. You can relax knowing that your kitchen is not going to deteriorate soon.
Tile backsplashes come in complementary colors and designs. So, you can choose ones that match your taste. In addition to enhancing the visual appeal of your kitchen, tile backsplashes can increase the overall resale value of your home.
#6 Enhance Security and Privacy with a Fenced Backyard
Insider Tips to Elevate Your Home’s Resale Value #6 is a fenced in backyard. If there is no fence around your backyard, it is time to add one. This budget-friendly investment always increases your property value. Beyond adding security and privacy, it also offers additional outdoor living space.
A fenced-in backyard attracts potential buyers with pets and children, which broadens your buyer pool. They feel more secure when they see a fenced backyard. Hence, they will likely want to spend more money on your house. Overall, installing a fence around the backyard is an affordable upgrade that distinguishes your home on the market.
#7 Invest in at least a Two-Car Garage
Boost your home’s value with at least a two-car garage. Typical garages have spaces to store only one car. They hardly provide any space to store tools or other stuff. But homebuyers wish to have additional spaces to store things along with their cars. That is why a two-car garage can make your property stand out.
Moreover, a two-car garage provides secure storage. The additional space for another car protects vehicles and valuable items. Plus, it creates the illusion of more space, which contributes to the overall footage and appeal of your home. To impress potential buyers, choose durable and low-maintenance materials for your garage.
#8 Install A Smart Thermostat for Energy Efficiency
Buyers like lower utility bills, and making your home more energy efficient can ensure that. It is a savvy move to boost your property’s value. One effective upgrade is installing a smart thermostat. Homeowners can manage their home’s climate remotely with a smart thermostat.
The HVAC system is probably the largest mechanical system in your home. A smart thermostat is linked to this system. So, it becomes a compelling selling point. According to HomeAdvisor, a smart thermostat is an accessible investment with an average expense of about $350.
When it comes to home improvements, the options are as diverse as the dreams you have for your living space. Beyond the highlighted renovations, there are other ways to elevate your home’s worth. Ultimately, they can make your home more valuable in the eyes of those who appreciate its true potential. If you have specific questions on maximizing your home through egress windows, concrete lifting, or floor coatings, reach out to the PolyMagic team!
