Using Cost-Effective Upgrades to Increase Property Value

sing Cost-Effective Upgrades to Increase Property Value
Your home represents one of your most substantial investments, so you’d naturally like to see its value appreciate during the time you own it.  Ideally, the real estate market will help you reach this expectation, boosting your property value over time.  There are no guarantees, however, particularly during periods of economic uncertainty.  As a result, boosting your home’s value may require a more active approach.   Fortunately, affordable home improvements are within reach, presenting upgrades you can carry-off with little or no help.  To enhance the value and functionality of your home, start with these ideas and add your own creative, low-cost improvements.

Bathroom Makeover

If you live in an older home, your bathrooms(s) probably stand out as small and/or outdated.  Lifestyle shifts are responsible for the deficiency, reflecting an era when bathrooms were once referred to as “water closets”.  Even bathrooms outfitted more recently can be dated, so you can’t go wrong updating these areas.

Major renovations commonly expand the size of bathrooms and/or add features, such as shower stalls and other modernizations.  These upgrades add value, but be prepared to spend substantial sums when pursuing such large-scale projects.  For a less costly approach, consider individual bathroom details you might improve, controlling the scope (and cost) of your renovation project.  Replacing a boxy vanity with a pedestal sink, for instance, creates a more open, contemporary feel in your bathroom, without a major investment.  And since bathrooms are small, splurging on high-end flooring or accent-tile upgrades will not set you back as much as re-covering a larger space.  Faucets and fixtures are of course fair game when seeking better performance and updated aesthetics.

Creating Curb Appeal

You only get to make one first impression, so when it comes to your home, curb appeal speaks volumes.  Even if you aren’t actively promoting your home for sale, an attractive exterior presentation is still an important value-added feature of your property.

Depending upon the condition of your property, increasing curb appeal may be as simple as tending to existing exterior features, including landscaping and your lawn.  Even if you have to add plants, trees and shrubs, the cost is relatively minor, compared to the value of the improvement.  Pulling weeds, edging your lawn, and pruning existing shrubbery goes a long way, and if landscaping has grown scraggly and unattractive, don’t be afraid to replace existing plantings with more appropriate bushes and shrubs.

Making minor repairs to railings, porches, light fixtures and other exterior features also enhances curb appeal, and if your home needs touch-up paint, completing the effort adds immediate value and appeal.  Larger projects may call for outside financing, but even when interest and origination fees are considered, value-added upgrades outweigh the cost of home improvement loans.  In addition to equity financing, instalment loans are offered by widespread lenders, furnishing go-to resources for boosting your home’s value.

Updated Fixtures and Lighting

Lighting is fundamental to the way your home is perceived. Outdated fixtures not only fall short aesthetically, but old lighting doesn’t take advantage of the exciting technological advances in the area, which are capable of transforming your home’s appearance.  Halogen and compact fluorescent lighting, for instance, is executed in smaller fixtures, giving you more flexibility placing accent lights.  And the technology is more cost-effective, using less energy and creating less heat.

Track lighting represents another dramatic lighting transformation you can use to remake your kitchen and bath, as well as casual areas used primarily for entertaining.  While recessed lighting or “can” lights may be difficult to replace without a major disruption, simply moving to modern bulb options changes perception and aesthetic reality in your home.

Affordable home improvements add value to your home – even if you are not actively selling.  Cost-effective upgrades also enhance functionality, so investing in value-added updates supports your comfort and standard of living.

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