Home improvement projects are the way to go whether you want to sell your off-market property soon or just want to add more value. By updating and enhancing different features of your property, you can take its worth to the next level and stand out from the other homes in the market.
But what upgrades should you focus on? Today I, Brandon Gilkey, will share some smart home improvement tips that I believe can help boost the value of your property.
Making strategic home improvements can be one of the best investments in a property. It adds value to your home, increases its appeal, and helps you get top dollar for it when it comes time to sell. Some of the key benefits of investing in home improvement projects include:
- Increasing the sale price of your property
- Making it more attractive to prospective buyers
- Improving the overall energy efficiency of the home
- Enhancing its lifestyle features, such as functionality and amenities
- Increasing its longevity and durability.
Below are some projects to consider.
When it comes to increasing the value of your property, the kitchen is arguably the most important area to consider and simply can’t be ignored. It’s the heart of your home and a room that homebuyers closely watch. So, consider giving your kitchen a modern upgrade.
Quickest way to do this is by painting and/or refinishing your kitchen cabinets! Not as quick, but very powerful, is to resurface the countertops and if you can afford it go with quartz! And while you are at it, go for a style called “waterfall.” Other things to consider would be: new hardware on kitchen cabinets, new appliances, new lighting fixtures, new kitchen table/chairs, adding or expanding an island, and if you really want to get serious hire a professional, such as Andy & Jobey Frank that can design and build your dream kitchen.
I believe that making your outdoor space is a crucial, (often overlooked) key in creating great value-add to your property. Nothing beats an outdoor space that is attractive, inviting, and fun. Think about how you can make this space into an “outdoor living room” where life can be lived, loved, and enjoyed.
The size of the backyard really doesn’t matter, rather, it’s all about maximizing the space you have to be enjoyed! There are simple upgrades you can do such as adding comfy outdoor furniture, fun games, or an area to grill.
Some of the more complex or expensive upgrades would include adding a pool, an outdoor covered eating area, a firepit or fireplace, artificial turf/putting green, sport court, or even a small “guest house.” Any one of these more expensive ideas will help create a space that is truly memorable, and if you do them all…well more power to ya!
Like the kitchen, bathrooms are vital in adding value to your property. Consider updating your plumbing fixtures, adding new tiles, and replacing faulty faucets. You can also upgrade your lighting and add new storage options. A modernized bathroom with a few extra amenities can significantly increase your property’s value.
If you want to stay ahead of the competition and add more value to your property, consider investing in smart home technologies. This includes automated lighting, climate control, and smart door locks. Smart home technologies can help make your life easier and make your property desirable to potential buyers.
Not all homes have basements, especially where I live in Arizona! However, a basement serving as a storage space or a gym can be transformed into an extra living area or a guest room. A finished basement can add up to 10% value to your home. Consider adding drywall, carpets, proper lighting, and a bathroom to make it a comfortable and inviting space.
Making your home energy-efficient is environmentally conscious and a valuable upgrade for potential homebuyers. When making your home energy-efficient, it’s important to consider completing SAP calculations to assess the overall energy performance of your home. Replace your old HVAC system with a new, more efficient one, and upgrade your insulation. You can install double-glazed windows and change regular light bulbs to LED ones to save energy and reduce utility bills.
A green and sustainable home appeals to many homebuyers, making solar panels a valuable addition to your property. Solar panels reduce reliance on traditional power sources and significantly cut down on monthly utility bills, proving a long-term investment.
Moreover, homes with solar installations are often perceived as modern and forward-thinking, which can help your property stand out in competitive real estate markets. Depending on where you live, tax incentives or rebates may also be available for homeowners who install solar panels, further adding to your property’s value.
These home improvement tips are just the tip of the iceberg of ideas to boost the value of your property. They’re perfect for anyone looking to get the most out of their property and attract potential homebuyers.
Remember, by modernizing your kitchen, enhancing curb appeal, upgrading your bathrooms, converting your basement, and focusing on energy efficiency. You’ll give your property the facelift it needs to stand out in the market.
So, get started on your home improvement project today and enjoy the increased value of your off-market real estate.
Brandon Gilkey is the CEO of Investor Deals Today, one of the industry leaders in Single Family Residential Portfolio transactions in the United States. In addition, he is the Managing Partner of four Real Estate Holding companies with properties in 12 different states.