Easy Ways to Up Your Home’s Potential Value
For most people, the family home is the largest investment one can make. Furthermore, it’s important to ensure it maintains value. Better yet, you most likely want to increase profitability. The thought of someday cashing in and selling your home to make a profit is very enticing for would-be retirees. However, before you downsize, you may want to think about ways to increase your home’s value.
Purchase Your Electric
It may sound odd, but if you live in a single family home, invest in solar. While many southern Californians have already made the transition, others are still paying a monthly fee to the local electric company. Investing in solar panels not only decreases your monthly stipend, but it also can add upwards of 3 to 4 percent to your home’s bottom line.
Get Great Curb Appeal
Having a great landscape not only makes your home more desirable, but it can bring big returns. A professionally designed landscape complete with native low maintenance plants and water saving irrigation can boost profits. Lit sidewalks and entrance ways can also add value and bring an element of safety to a potential home buyer. A well-designed landscape with a great lawn, hardscapes, and lighting can add a minimum of 6 to 7 percent.
If your kitchen is sporting country blue, florescent lights, or has appliances that rival a cartoon drawing, it’s time to upgrade. Upgrading your kitchen and bath will yield approximately 75 percent of your investment—if you spend wisely. Make certain that you keep in line with your overall home value. For example, a $40,000 new kitchen in a $150,000 home doesn’t make much sense. Although, a $15,000 remake would do wonders. Expensive renovations can literally price your home out of the market, and recouping that expense can be a costly lesson.
Create More Space
Adding additional space may be just the thing for a two-bedroom home or a house that needs a second bath. While adding more space can increase value, it too must be done wisely. Today, potential home buyers are looking for efficiency. Larger isn’t always better. However, if you are missing a standard beneficial room for a typical family of four, consider additional square footage.
Keeping up with home maintenance is another wise tip. Homes that have everything working properly fare better in value. Plus, a home that runs more efficient will save money too.
If you enjoyed this post you might also want to read, “How Great Curb Appeal Can Help You Sell Your Home in San Diego”
Thinking of buying or selling a home in the La Jolla area? As consistent top producers in real estate, Linda Daniels and The Daniels Group are your La Jolla housing specialists. Working with The Daniels Group will give you with the advantage of having local experts to ensure that you have a successful real estate transaction. From buying, selling and investing to financing options and more, we have the expertise and resources to help you achieve your goals. Call us today at (858) 361-5561 or email us anytime by clicking here.