Since the real estate market is still in a bit of a downward slope, more and more people are deciding to not sell their homes. Instead, they are opting to stay where they are and develop the property up for when the market heals itself. This is a great way to prepare for the market comeback and give you something to work on in the meantime. There are some projects to work on that will cost a lot of money and not necessarily add any money to the overall value of your home (for example, a pool will cost around $25,000 and, unless you are in the right region, can actually deter potential buyers from purchasing your home).
Here are some things you can do to raise the value of your home that will improve the value of your home.
Front Yard Makeover
Taking good care of your yard tells your neighbors that you take pride in your home and neighborhood, while making your home stand out on the block. Whether you install a paver walkway or simply add some planters to your garden scene, it doesn’t take a lot of effort or money to make your front yard look great. You can do a complete overhaul, if you want, but some simple changes can make a big difference in your curb appeal.
Update Plumbing
If you have ancient, rusted pipes and worry that you may have ingested enough metal from your tap water to build a small ship, you should look into replacing your plumbing. You might not have realized that plumbing is a huge part of the inspection that goes into evaluating your home’s worth. In the olden days, it would be a colossal event that would require ripping open walls and tearing your house apart to get to the plumbing infrastructure. Today, we use plastic PEX piping to reliably funnel in to the walls like a surgeon – which means a lot less holes in your home.
Remove Outdated Features
Don’t kid yourself – wood paneling is never coming back. If you like the wood panel look, rip out what you’ve got and have some actual wood installed. It looks much better and will help bump up the salability of your home. Same goes with those hazard riddled popcorn ceilings. Not only are they potentially dangerous to you and your family’s overall health, but they look terrible. A home with modern features will help you net a modern price.
Install a Generator
This is especially important if you live in an area with frequent harsh weather. Blackouts are not fun for anybody, and in some cases can be dangerous to your property. For example, pipes can freeze over and then explode, causing massive damage to your floor and plumbing infrastructure. A natural gas standby generator hooks into your natural gas line and will automatically detect when there is power failure and keep your home powered seamlessly.
They even help to reduce your homeowner’s insurance, as they are seen as a “Claim Mitigating Presence.” Meaning that, with one installed, you are less likely to make a claim.
While the market is trying to heal, get out there and start making your home more valuable!