More than just being a shelter, your home can also help you build your wealth. When you purchase a home and pay the mortgage, you slowly build wealth through equity.
Hopefully, by the time you are ready to sell, the market conditions are just right for you to earn top dollar from the sale of your home. But while the value of a house may increase over time, there are things you can do to enhance its value.
Here are three house improvements you can do to increase your home's value.
1. Enhance your home's attractiveness
How does one see your house from the outside? Curb appeal is a crucial factor in determining a home's value. Curb appeal refers to the visual appeal of your house as it is seen from the street. The exterior of your house should make an excellent first impression on your prospective buyers, good enough to pique their interest, and want to come in and see what else is there to see.
A nice looking garden, for example, can definitely boost the curb appeal of your home. You don't need to spend a fortune and put up an elaborate garden, though. You can use planters or window boxes to throw in some green without burning a hole in your pocket.
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Keep your lawn green and thick. A lush and green lawn helps keep a home looking attractive and pleasing to the eye. Getting rid of weeds, regularly mowing, aerating once a year, and applying fertilizer to improve the quality of soil will help ensure that grass will grow faster, thicker, and greener.
Outdoor lighting can also help improve the appeal of your home. Utilize outdoor lighting fixtures to enhance your home's aesthetic appeal, such as outdoor path lights, post lights, and landscaping lights.
2. Make your home energy efficient
Energy efficiency is a valuable feature to have in a home. In fact, the U.S. Energy Department encourages energy efficiency in every home.
So, how do you make your home more energy efficient?
First, you need to assess your energy consumption. Once you understand how you consume energy, you can develop a plan and prioritize which areas you will need to reduce energy consumption.
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Consult with an energy auditor to get expert advice on how you could improve energy efficiency, particularly if you need to replace or update your cooling or heating system. Energy auditor utilizes specialized tools such as surface thermometers and infrared cameras to evaluate your energy consumption better. They will provide you with recommendations to make your home more comfortable, safe, and energy-efficient.
3. Invest in smart technology
Having a smart home is more than just keeping abreast of what's trendy and modern. Smart home technology provides you with the ability to remotely monitor your house, customize smart devices according to your preferences, heighten security and safety, enhance energy efficiency, and save money.
A recent study says that smart home features can actually boost your home value by as much as 5 percent.
