3 Ways to Add Value to Your Home
With Spring almost upon us perhaps you are wanting to add value to your home in order to sell it or you are just wanting to increase the value of your home for a potential sale down the road? Either way taking care of and increasing the value of your investment is never a bad idea. Not only is it smart business, but it also makes for a happier home.
There are both low cost ways to add value to your home and high cost ways to add value to your home. Here are a few suggestions for both to make your home shine your wallet happy.
Paint is an economical (If you do it yourself) way to freshen up your home and add a modern update to your space. Perhaps the last time you painted your home was in the 1980s. Pastels were in as was wallpaper. It was pretty then, but is now just a blast to the past. Remove that old wallpaper and peach wall color and choose a palate of grays, whites, and neutrals. Remember to keep the wall color on small spaces light and don’t over do it with too many colors in one home. You don’t need a different color in each room. If you need help deciding consult your local paint store. They will have a pulse on current trends and will steer you in the right direction to meet your goals.
These days appliances can last 10, 20, almost 30 years. if you are frugal like me, you want that initial investment to long pay for itself. If it is increased value of your home you want though, those old appliances have to go! It has been proven that the condition of your kitchen raises the value of your home more than any other room in the house. New appliances not only excite potential buyers, but also show them that they will be saving money since most all new kitchen appliances are energy savers putting more money in the home owners pocket.
3. Go Green
Another great way to increase the value of your home is to take steps to make your home greener. Helping to reduce its carbon footprint and use of energy will not only save you money each year but will significantly increase the value of your home. For every $1 reduction in your annual energy bills you should see a $20 increase in your appraisal value. For example, lowering your energy bills by $83 per month ($1,000 per year) can increase your home value by $20,000. If that is not incentive to go green i don’t know what is. Also, most cities offer tax incentives for those who take steps to go green. It really is a win win situation.
A few easy ways to start to go green. As mentioned above in point 2, replacing old appliances with new energy saving appliances. Make sure to do your research and pay close attention to each appliances energy usage. You can easily switch to LED or CFL lights. About 12% of a normal households energy bill goes toward lighting, so switching out those old bulbs can certainly save you dollars. CFL and LED lights emit less heat, thus both directly and indirectly saving even more energy. Lastly you can easily go green by installing low flow shower heads and toilets. Not only is this a responsible thing to do in Santa Fe, but it is also a great way to save on that water bill and in many cases have a higher quality shower experience and or toilet function.
These are 3 easy ways to increase the value of your investment. Make a plan and get started today! You will not be sorry for adding value to your home.