6 Ways to Add Value to Your Home

It's always a good idea to think about what you can do to add value to your home. Read this article for some tips.

If you're a homeowner, there’s a good chance your home is one of your most valuable assets. Whether you're planning to sell in the near future or just want to increase your home's worth, adding value is one of the smartest investments you can make. Luckily, there are many ways to do this. In this blog post, we'll be looking at how to increase your home value, for appraisal purposes or just for appreciation. 

Related Read: Top 8 Questions to Ask When Selling Your Home

1. Refresh Your Kitchen and Bathroom

Kitchens and bathrooms are two of the most important rooms in a home. People spend a lot of time in these rooms, and they can significantly impact a home's value. Let’s look at some ways to give these rooms a fresh look.

  • Low-cost updates, such as painting cabinets or replacing hardware, can refresh the look of these rooms without breaking the bank. For example, if your cabinets are outdated or worn, sometimes a freshly painted look is the only thing needed to fix them up and impress potential buyers. Replacing hardware such as drawer pulls and cabinet knobs can also make a big impact for a relatively low cost.
  • Another way to refresh your kitchen or bathroom is to update your countertops. While this can be a pricier project, it can significantly improve the look and value of your home. If you're on a budget, consider installing a new laminate countertop or a prefabricated granite countertop. For those with a higher budget, investing in granite or quartz countertops can have a big impact on your home's appraisal value.
  • Another area to consider updating is your appliances. While this can be a more expensive project, it can also add significant value to your home. Stainless steel appliances are a popular choice and can give your kitchen a modern look. If you don't want to replace all of your appliances at once, consider upgrading them one at a time as your budget allows.

2. Improve Your Curb Appeal

No matter what people say, first impressions matter — and your home's curb appeal is often the first thing potential future buyers will notice. Improving your curb appeal can be one of the most cost-effective ways to add value to your home. Let’s look at some of the low-cost updates you can make to improve your home's appearance. 

  • Consider adding a fresh coat of paint to your front door or shutters. This can give your home an instant facelift and make it look more inviting.
  • Another low-cost update is to add some landscaping. This can be as simple as planting some flowers or adding some potted plants to your front porch. You can also consider adding some shrubs or trees to create a more natural look. Just be sure to keep your landscaping well-maintained, as an overgrown or unkempt yard can have the opposite effect.
  • If you have a bigger budget, consider investing in more significant updates. For example, you might consider replacing your roof or installing new windows. While these projects can be more expensive, they can also significantly improve your home's value and energy efficiency.

Related Read: How to Sell Your Home Quickly in Edmonton

3. Add Living Space

One of the most surefire ways to add value to your home is to add square footage. Adding extra living space can increase your home's value and make it a more liveable space. One of the easiest ways to do this is by converting an attic or basement into usable living space. For example, you might consider turning your unfinished basement into a home theater or game room. Alternatively, you might consider adding a bedroom or home office to your attic.

If you have a bigger budget, consider building an addition onto your home. This can be a more expensive project, but it can significantly increase your home's value and give you more living space. Some popular additions include adding a sunroom, expanding your living room, or building a garage or carport.

While every square foot counts, it's important to consider the cost and feasibility of the project. You'll need to make sure you have the necessary permits and that the project fits within your budget.

4. Upgrade Your Home's Energy Efficiency

Another way to add value to your home is by improving its energy efficiency. This not only increases your home's value but also saves you money on your energy bills. There are many ways to improve your home's energy efficiency, from simple updates to larger projects, such as:

  • Replacing your light bulbs with LED bulbs. These bulbs use less energy and last longer than traditional bulbs. You can also consider installing a programmable thermostat, which can help you save money by automatically adjusting your home's temperature when you're not home.
  • If you have a larger budget, consider upgrading your home's insulation or replacing your windows. This can help keep your home comfortable year-round and reduce your energy bills. 
  • You might also consider installing solar panels, which can significantly reduce your reliance on the grid and save you money on your energy and utilities bills.

Related Read: What Should I Know About Property Assessments?

5. Update Your Home's Systems

Another way to add value to your home is by updating your home's systems. This can include your HVAC system, plumbing, and electrical systems. Updating these systems can not only increase your home's value but also make it more livable and comfortable for your family.

For example, if your HVAC system is old or inefficient, consider replacing it with a newer, more energy-efficient model. This can not only increase your home's value but also save you money on your energy bills.

If your plumbing or electrical systems are outdated, consider updating them as well. This can help prevent costly repairs down the line and make your home more functional for your family's needs.

6. Add Smart Home Technology

Finally, consider adding smart home technology to your home. This can include things like smart thermostats, smart locks, and smart lighting. Smart home technology not only makes your home more convenient and comfortable but can also increase its value.

  • Smart thermostats can help you save money on your energy bills by automatically adjusting your home's temperature based on your schedule. 
  • Smart locks can improve your home's security and make it easier to manage access for guests or service providers. 
  • Smart lighting can make your home more energy-efficient and convenient to use.
Are you looking to sell your Edmonton home? Feel free to get in touch with me directly or view my featured listings here. I’m your local Edmonton real estate expert.

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