Having a house of your own is not just an emotional step; often, it is a financial one as well. Many people also buy houses to resell them after some time and earn a profit. Some areas are more favorable for providing a better resale value of the house due to their prospects of increased home value. Take Colorado Springs for an example. Its real estate market has grown faster than most US markets, as reported by the Zillow Home Value Index.
Home prices in the area have increased by 140% since 2012 and 49% since the onset of the pandemic till June 2022, according to research by Common Sense Institute. Therefore, those who own property in Colorado Springs can potentially earn a significant profit if they choose to sell now. However, aside from the gradual increase in real estate prices in an area, certain strategic steps can also enhance your house’s value. We’ve listed them below.
1. Make your house more sustainable
Making your house more sustainable and eco-friendly can significantly increase its value by attracting buyers who prioritize eco-friendly features.
According to the US Department of Energy’s (DOE) studies, energy-efficient homes tend to have a higher resale value. Homes with energy-efficient features, such as improved insulation, energy-efficient appliances, and high-efficiency windows, can fetch a premium price compared to similar homes without these features.
Green buildings can receive higher value because energy and water-efficient designs significantly reduce the energy cost of the houses by about 20-30%, as reported by Green Business Bureau.
Therefore, areas such as Colorado Springs, with a strong emphasis on sustainability and clean energy, including projects like SustainableCOS, COS Love My Air, and more, can add even more value to their houses by incorporating sustainable elements. They can revamp their bathroom by connecting with a professional Colorado Springs bathroom remodeling expert to replace outdated fixtures to reduce water consumption, for example. They can also install water-saving technologies and use environmentally friendly materials.
Interestingly, a bathroom remodeling project, whether undertaken to enhance sustainability or not, can increase the house’s overall value. A 2022 report mentioned that bathroom remodeling enhanced the resale value of a house by more than enough to cover renovation costs. Hence, among all the remodeling projects you can undertake to enhance the eco-friendliness of your house, a bathroom is a lucrative option.
2. Apply a fresh coat of paint
It is quite interesting to know that superficial changes to a house can have a bigger impact on potential buyers than more intensive but less visible changes. An effective change you can make to your house is a fresh coat of paint.
Applying a fresh coat of paint improves its overall aesthetics. It creates a cleaner, brighter, and more modern look, leaving a lasting impression.
Additionally, renewing the paint of your house signals the prospective buyers that your house is well-maintained and cared for, increasing the value of your house. Buyers often perceive that a well-maintained house requires less immediate maintenance.
When applying paint, the choice of color matters. Neutral and universally appealing paint colors attract potential buyers by providing them with a blank canvas. It enables them to envision their own furnishing and style to create the house of their dreams.
3. Upgrade the outside doors
Exterior doors are among the first things greeting visitors. Therefore, they play an important role in shaping the initial impression of your prospective buyer. Hence, they must be ready to leave a lasting impression.
By upgrading the exterior doors to make them more modern, appealing, clean, and functional, you can capture the attention of prospective buyers. You can choose modern style, classic wood, or sleek glass panels to make that happen.
Apart from enhancing aesthetics, you can upgrade exterior doors to incorporate safety features that offer better protection for the house. Features like reinforced frames, multi-point locking systems, and impact-resistant materials enhance your prospective buyers’ confidence.
Another aspect you can consider when upgrading external doors is incorporating energy efficiency. Including features like improved insulation materials, weatherstripping, and energy-saving glass options reduces drafts and heat transfer between the interior and exterior.
4. Update your kitchen with a fresh look
Many buyers focus on the kitchen when visiting to buy a house. It is often considered the heart of the house, where homeowners spend a lot of their time chatting, cooking, and eating together. Therefore, upgrading your kitchen with a fresh look is a wise investment that can considerably increase the value of your house.
You can make your kitchen more appealing by modernizing the design, incorporating new fixtures, and using high-quality materials. These additions attract buyers in most cases, helping you command a higher value for your house.
A well-designed kitchen with updated appliances, stylish countertops, and ample storage enhances the functionality and leaves a lasting impression on potential buyers. Research has shown that kitchen renovations have a strong return on investment, making it worthwhile for homeowners looking to maximize their property’s value.
5. Remove clutter and organize the house
When potential buyers walk into your house, they expect to find a clean and well-kempt space, allowing them to envision themselves living there. Clutter and disorganized space can immediately deflate their interest in your house. It sends a message of neglect and lack of care, which can be a major turnoff.
Clutter also has psychological effects on people, including increased stress and decreased focus. Therefore, It can distract your buyers, even discouraging them from looking at the rest of the house. So clutter is a big deal breaker when it comes to making your house more appealing for increasing its value.
Decluttering allows you to highlight the true potential of your home’s square footage. Removing excess items and organizing storage space manifest a clear purpose for the rooms, making your home feel more spacious, functional, and visually appealing.
6. Improve your house’s landscaping
A well-designed and well-maintained landscape makes your house more welcoming and attractive. Moreover, strategic landscaping elements such as beautiful trees, colorful flower beds, and defined outdoor living areas can fascinate potential buyers. They are a budget-friendly way to differentiate your property in the real estate market.
Conclusion
Increasing the value of your house can be done in a number of ways. Some of them are listed in the above article. When choosing a strategy, make sure it aligns with your goals and you are aware of the potential returns it can provide. This way, you can prevent yourself from spending on unnecessary changes.
