There are many different reasons why anyone might seek to add some market value to their home, including:
- Many of the things you do to increase the market value of a home increase the actual, tangible value you can feel as well
- You might perhaps be on the path to eventually listing and selling your home, in which case increasing the market value will mean you get more out of the sale
- You might have identified this to be the place where you’re going to spend the rest of your natural life, so you want it to be as close as possible to the dream you have for your immediate living space. Consequently, you might be seeking to perhaps raise some living capital to help with an emergent financial need by borrowing cash against your home, in which case you would in turn qualify for better loan terms and a bigger amount in line with the value of your home.
There are probably quite a few more reasons, but let’s narrow down our focus to these for now, simply because what we seek to discuss in greater detail are the ways through which to go about increasing your home’s value…
Here we show you how a few subtle changes can help you increase the value of your home. First of all, you need to work on the look of your house. The first impression of any property lies in its cladding, front yard, and driveway. Having eco-friendly Resin driveways, vinyl cladding, and neatly landscaped and well-maintained front yards are all important factors that contribute to a good market value.
But making changes to the outside of your home does not just contribute to your home value; it makes the place an interesting sight, especially when potential buyers are in the equation. A home’s curb appeal should be prioritized, not just to make changes, but to maintain them as well. So, if you have to put some money down on a garden, deck, paver or even patio restoration, you should consider it.
Once you’ve dealt with the exteriors, we move on to the interior. The interior of a home as would be advertised to a prospective buyer paints a bit of a stark picture of what the homeowner him or herself would see in it, right? For instance, considering that you might currently own your home and you’ve paid off the bond, would the officially appraised cash price you’d get for it cover rent for the rest of your life, particularly considering that the house itself covers having a roof over your head for the rest of your life?
This is the kind of thinking you have to entertain if you’re to successfully get to a point where you’ve managed to increase the value of your house, value which you’d ideally want to be able to tap into having made provision for it. For instance, a quoted market price that includes the teak furniture you bought for your backyard increases the value of the house, while at the same time using that furniture doesn’t degrade it significantly enough that to chip away at that increased value quoted on the price of the house.
Teak furniture is known for its long-lasting and quality properties, so that’s perhaps a perfect example of how to increase property value both in terms of what you’d get for the property were you to sell, and value you can tangibly benefit from.
This is pretty much quite the contrast to what property flippers do when they seek to increase the value of a home because they’re not quite planning to live in those properties even for a small amount of time.
Infographic Created By First Fence Company, Chicago’s Top-Rated Iron Fence Builders