With house prices and mortgage rates skyrocketing in 2022, becoming familiar with the top ways of adding value to your home has become much more important. Although a property’s value mostly relies on factors like the house’s location, economic situation, and current market rates, some factors are still within your control. Adding square footage, making your home more efficient, or bringing a modern upgrade to your kitchen and bath are all examples of the steps you can take to enhance your home’s value.
Whether you’re planning on selling your home in the near future or simply want to continue increasing the value of your property, this article has all the tips to ensure your house stands out for all the right reasons!
Replace Outdated Appliances With Energy-Efficient Features
Everyone appreciates brand new appliances. If your home has a musty washing machine, an old heating system, or a poorly-functioning refrigerator, you could be losing potential buyers.
A recent study by the UK government shows that domestic energy consumption per person in the UK has increased by 4% in electricity and 2% in gas due to people spending more time at home, post pandemic. This, in combination with energy prices on the rise, it's more important than ever to improve the energy efficiency of your home.
So, one of the best ways to do this is by finding energy-efficient and high-quality appliances. This will not only reduce the utility bills while you’re living there but will also make the home more appealing to buyers. Remember to keep the expenditure on the white goods in line with the home itself — replacing outdated items with moderately priced modern appliances can also help you set a higher sale price.
You can check out more energy-efficient interior design ideas here!
Creating Additional, Luxurious Rooms
Homes are valued and priced based on the liveable square feet they offer. This means adding extra usable square footage can significantly improve the financial value of a space, especially in areas where the available real estate is limited.
Transforming existing space into a great room, an extra bathroom, or a separate mother-in-law suite are smart ideas to increase a property’s value, since such features are uncommon and help to set your home apart when it's time to sell. The average cost will, of course, vary according to the room you add.
An Outdoor Garden Room
Credit: Green Retreats
An outdoor garden room connected with the main electricity can raise your home’s value by 5% to 15%. If you live in a listed building or have a home in a designated area, don’t forget to confirm with the local planning office whether or not you have permission to build an outdoor garden room.
Improve Curb Appeal
The outside makes a world of difference in the value of your home.
Paint The Front Door
Your front door may be beaten by the Sun, or it may require a kick or two to open. A freshly painted door that effortlessly sways open without any creaking always has an incredible first impression.
To create a cohesive, sleek look, match the shade of the entrance door with one of the colours from the planting palette. For instance, flowers in hot hues can create an attractive combination with a bright front door.
Speaking of first impressions, sprucing up the entryway with foyer decor ideas is another aspect to consider whilst enhancing the value of your home!
Accentuate Your Front Yard
A beautiful landscape design can add up to 5% to 12% value to your space. And, truth be told, uncontrolled shrubs and messy weeds won’t please anyone. Here are some tips you can follow to have a lovely, well-maintained yard:
Avoid planting too many trees. They can pose a risk for storm damage and can be an undesirable option for families with little kids.
If you have a brown thumb, you may wish to grow easy-to-grow flower varieties for a stunning backyard.
Purchase a sprinkler. It will water your yard whilst doubling up as an aesthetic feature.
Maintain your deck or patio. A rotted, broken patio can be an eyesore.
Go for year-round plants, not seasonal ones. This will help maintain the curb appeal in every season.
Train your pets to keep them from damaging your lawn and creating yellow or dead spots in the grass.
Revamp The Interior
Old-fashioned properties can dissuade potential buyers. Take a look around your home and notice everything that appears worn out. Is your wallpaper peeling off? Do your bathroom tiles look washed out? Does your woodwork look drab? Are your windows cracked and foggy? Has your paint started to expose the cement beneath it?
If you find these faults, it's time to give your home a makeover. You’ll be amazed at how small changes like a fresh coat of paint or new plasterboards can upgrade the entire feel of your home in no time!
From small steps like giving your interior a fresh lick of paint to major renovations like adding extra liveable square footage, every upgrade plays an important role in increasing the value of your home.
So, what are you waiting for? Use this list and start brainstorming how to improve the value of your home today!
Want some personalised advice on ways to add value to your home? Just book one of our Interior Design Gurus here! They can look at your space over video chat and give you tips, ideas and guidance on how to increase the value of your home!