Looking to sell your home? Don’t assume resale value is a fixed figure you have no control over. In fact, there are numerous improvements you can make that can dramatically raise your home’s equity. That’s why a home is an investment. And if you play your cards right, it’s one that can play off handsomely.
Here are 6 upgrades you can consider to boost your home’s equity value and cash in on your next big move. Many of these improvements not only increase your home’s value but your enjoyment as well. Your home is your castle. Live like a king (or queen)!
Refinish Your Basement
Refinishing your basement into a cozy living space can dramatically increase the living area of your home. Not only that, but it essentially provides an extra guest space for visiting in-laws, family members and friends. Nobody can complain about additional square footage. And for this very reason, a refinished basement will also boost your home’s equity substantially.
Repaint or Touch Up the Paint On Your House
Paint wears off, chips, fades, or goes out of style. By repainting your house, you give your home a facelift. Since curb appeal is so important to a home’s resale value, a repainted house boosts your equity. Can’t afford to repaint the whole house? Then touch up areas that are chipped or faded. Surely your house could use a little love.
Remodel for an Open Layout
Have floor plans that are only partially open around the living room, dining room or kitchen? Have useless barriers or walls that only serve to make the house claustrophobic? Reopening these areas around your home make the whole place seem roomier and more comfortable. It gives a more spacious feel to your living area. Not only is this more comfortable, but a more open floor plan can substantially increase the value of your home.
Repaint Your Garage Door
As far as garage door repairs go, repainting your garage door gives the front of your house a facelift and can increase the value of your home. If the paint on your door is flaking, faded, or just out of style, a paint job may be just what it needs.
Install a New Garage Door
Depending on how old your garage door is, a paint job may only go so far. You may be better off installing a brand new garage door. It might not seem to make sense if you are planning to sell your home, but listen to this: A new garage door has one of the highest returns on investment for nearly all home improvements, 97% — virtually dollar for dollar. This is because a new garage door will substantially boost your home’s resale value. It’s like money in the bank.
Install a Smart Garage Door Opener
Another way to boost the value of your home is to install a smart garage door opener. This increases what you can do with your garage door by giving you remote access from any Internet connection. It’s a great way to boost your home’s value without making the full investment of a new garage door.