Insider’s Tips for Adding Value to Your Home

Written By Andrew Jones

Insider's tips for adding value to your home

Building equity is one of the primary benefits of home ownership. Equity is established when you make a down payment at the time of purchase, and it typically grows as your property value increases and the loan balance is paid off. You can also add equity to your home through the completion of thoughtful projects. These are some of the top options to consider that can add true value to your home.

Repair Known Issues

Before you spend money updating and improving the home, fix the items that you know are in poor condition. For example, if your roof is leaking or your foundation is damaged, repair these items. While they can be costly to complete in some cases, these issues can negatively affect the value of the property if they are not properly tended to.

Focus on Kitchens and Bathrooms

The two primary areas of the home that can show age and wear are the kitchen and bathrooms. Most of the features in these rooms are built-in, so professional renovation is often needed to improve style and function in these spaces. Depending on the extent of your upgrading, you may be able to recoup as much as 80 percent or more of the renovation costs.

Think About Climate Control

When you sell your home, a potential buyer will look for climate control features built into the property. While you may make do with ceiling fans and space heaters for climate control, many buyers want a home with a centralized heating and cooling system. If your home does not have a system installed or if the system is outdated, add a new and energy efficient HVAC unit to your home.

Update Your Lighting

Lighting is a critical design element that is often overlooked. The types of lights, the intensity of the light and even the placement of lights can play a major role in the overall ambiance in your home. Lighting should be functional and practical, but it also must create a suitable ambiance. The fixtures themselves can also affect the style of the home. When you update light fixtures, focus on the look of the lights, energy efficiency, their placement, the benefit of dimmer switches and more.

Make Easy Cosmetic Improvements

Some of these ideas can cost a small fortune to incorporate into your space. What can you do if you only have a limited amount of money to work with? Some cosmetic improvements can yield tremendous results for your home’s appeal and value. For example, replacing broken windows, patching up cracked drywall, updating the wall colors with a fresh coat of neutral paint, fixing cracked tile and more can do wonders for the overall condition and look of your property.

Fund Your Improvements and Renovations

Before you get started on home improvement projects, you need to set a budget for the work and line up the full amount of funds you will need. It is important to have access to all of the funds you need to complete the work before you begin. This is because you do not want to be forced to stop halfway through the project because of a lack of funds. Consider the benefits of a short-term loan, such as a payday loan or a title loan, to get the funds you need.

You may want to add value to your home quickly before listing it for sale. Perhaps you want to make improvements to your home for your own enjoyment. Each of these ideas can improve your home’s value with great results, so analyze the ideas to see which options are more applicable to your home.

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About thenoelteam

As a Broker with RE/MAX Alliance, I work energetically for my clients whether they are a buyer or seller. I help you achieve your goal of owning a home or getting the best price for your home in the shortest time possible. After graduating from UCLA with a degree in communications and finance, I was licensed in 1977 and since then I have sold over 3600 properties amounting to over $1 billion in sales. I currently rank in the top 10 in home sales for Colorado. I offer the same quality of service and superior communication to all clients, ranging from starter homes to multi-million dollar estates, commercial and income properties, relocations and foreclosures My goal is to provide you with the best representation possible whether you are buying or selling. Over the years, one of the things that I've discovered is that there is a difference in the way individual Realtors do business. For me, I have always felt that honesty and personal integrity are the foundations upon which a successful business and career are built and sustained. I have an extensive background and knowledge base in real estate, including financing, which has enabled me to provide outstanding, quality advice and service not found with many agents today. My commitment to communication creates a positive relationship between my client and myself that results in a successful property sale or purchase. My passion for real estate, commitment to my clients and personal integrity has helped me to achieve success placing me in the top 1% of all brokers in nationwide. In my career, I have earned a number of awards and received considerable recognition for my success but the most significant recognition comes from the fact that over 75% of my business comes from past clients. My success is a true measure of my client satisfaction.
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