Are you looking for ways to increase your home’s value but aren’t sure where to start? You’re not alone.
In the current market, thousands of homeowners are struggling to decide on the right home improvements to get the best return on their investment. To help you decide, we’ve put together this list of some of our favorites.
Complete Your Outdoor Space with a Pool
A perfect place for relaxation and cooling off in the summer, pools make an enticing feature for prospective home buyers – especially those with children.
While the price of installing a pool can be steep – averaging between $25,000 in excess of $100,000 – the value it adds to your property can far exceed the upfront costs. However, there are several factors to consider before deciding if a pool is the right home upgrade for you.
- Weather – Homes with pools are valued higher in climates with longer warm seasons.
- Home size – In general, pools add more value to homes intended for larger families.
- Home price – Due to the cost of upkeep, pools are best suited for high-value homes sold to families with plenty of disposable income.
Finish Your Basement
Finishing a basement is often the most practical way to increase a home’s value. The best part is that a basement can be converted into practically anything. Add an extra bedroom or living area, a recreation room for the kids, a home theater for the whole family to enjoy, or any other kind of space you feel could improve your home.
By utilizing existing space in your house, a finished basement is the perfect way to make your home feel larger without adding square footage. And, with the proper planning and design, it’s sure to impress potential buyers.
According to a report by Remodeling magazine, homeowners can expect a finished basement remodel to see a return of as much as 75 cents on the dollar.
Add a Patio for Extra Entertainment Space
Considering the short timeframe and the relatively low cost of materials, a patio is one of the quickest and most effective ways to add value to a home. By extending your home’s floor space into the outdoors, a patio creates an inviting and open atmosphere and makes the whole house feel roomier.
Entice prospective buyers further by outfitting your patio with an outdoor furniture set or an outdoor kitchen complete with a grill and prep station, perfect for entertaining friends and family.
Remodel Your Kitchen for a Modern Appearance
If your kitchen is beginning to feel a little outdated, a remodel could be exactly what’s needed to breathe some new life into your home and appeal to the sensibilities of modern home buyers.
Upgrade your countertops and cabinets, replace your vinyl flooring with quality tile or hardwood, or apply a fresh coat of paint to the walls. If you have the room, you might consider adding an island or even rearranging the entire space to create a more modern, open feel.
While a full remodel guarantees the best return on investment, even a few small upgrades, like swapping out your old appliances for new energy-efficient ones, will add noticeable value to your home when it comes time to sell.
Update Your Outdoor Space
High-quality, intentional landscaping can transform a neglected yard into an eye-catching and inspiring outdoor space. But, we’re not talking about simply planting a few privacy hedges in the backyard.
We recommend hiring a professional landscaping service with a focus on design and sustainability to hand-select the plants and outdoor features to give your yard a distinctive look and unique curb appeal sure to enchant potential buyers.
In addition to gorgeous trees and striking flower beds, consider features like –
- Water fountains
- Streams
- Sculptures
- Sitting areas
- Walkways
Are you ready to begin your improvement project? Take a look at our blog for more detailed guides on how to increase the value of your home.
Once you’re ready to take the next step toward your home renovation, HFS Financial can help with flexible personal loan options featuring low rates and a quick and easy application process, with approvals in an little as three days!
To secure your personal loan and start adding value to your home, contact HFS Financial today.