Property prices are through the roof at the minute. The average U.S. house price currently is $374,900, up from $322,600 last year. House prices aren’t just soaring in the United States though; they are soaring all over the world.
If you are fortunate enough to own your own house, then there are a few upgrades that you can make to increase your home’s value even more. Whether you intend on selling your house or holding on to it, increasing its value is a fantastic way of ensuring that you are protected financially, in case of any unforeseen expenses that result in you having to sell it.
This post will offer seven upgrade ideas for increasing your home’s value:
Secondary Property
If your house has extra land, then you could consider building an additional dwelling. You will need a building permit for this, but if your property’s land is large enough, it won’t be a problem to get. Metal houses are very popular at the moment according to the experts from Metal Buildings, who you can click here to learn more about. A metal house is also a lot cheaper for you to build than one that’s made from brick or wood. A secondary house on your property can boost your property’s value by hundreds of thousands of dollars.
Smart System
The installation of a smart system is another thing that you might want to consider. If you intend on holding onto your property long-term, then a smart system might not be the best investment because, by the time you sell your house, the system will likely be outdated. If you intend on selling soon, however, then a smart system can add tens of thousands to your home’s value. Smart systems are expensive, but significantly boost your home’s resale price.
Pool Installation
If you have a large backyard, then you could build a swimming pool. A swimming pool will make for a fantastic addition to your home because it can add thousands to its value. With that said, if you live in a very cold region of your country or the world, then it’s a good idea to invest in a jacuzzi instead. Swimming pools are better for hotter countries, where they are less likely to freeze over and they can be used more. An internal swimming pool is suitable for a house that’s in a cold environment though because it won’t freeze.
Carpeted Floors
People prefer carpets to laminate or wooden floors. If you want to add money to your home’s value, then put carpets down in your home’s bedrooms and living areas. You should avoid putting carpet down in hallways and in rooms like the kitchens, dining area, and bathrooms, however. Carpet in these rooms can be hard to maintain and can attract germs and dirt. The installation of carpets shouldn’t cost you a lot of money, although don’t try to save money by installing low-quality carpeting. A carpet that’s not made from high-quality materials like wool won’t boost your property’s value.
Landscaping
If you have a sizable backyard, then landscaping’s something that’s worth investing in. Landscaping doesn’t just add to your home’s value, it also makes your home’s backyard look a lot more beautiful. Landscaping is a great option for people who like to spend a lot of time outdoors. One thing that you need to bear in mind is that if you landscape your backyard, you will have to maintain the plants, trees, and shrubs that are planted. Alternatively, you can hire a gardener to maintain them for you. Gardeners can be expensive, however, so bear that in mind.
House Extension/Conversion
An extension can be a great way to increase your home’s value. If you have a small kitchen or dining room, then an extension adding to the size of these rooms can be a great idea. Alternatively, you could build an extension and then just add an extra room, like a second lounge. The cost of a house extension can be very high, but it’s a worthy investment. Any additional structure or extension to your home can make it worth a lot more to buyers. What I mean by a conversion is taking existing spaces such as basements, lofts and garages, and converting them into a new space with a new function. Instead of a storage space, consider a London basement conversion for additional living space in your home.
Extra Land
Lastly, another way of increasing your home’s value is to buy extra land in the area around your house. If you live in a rural area and there are fields bordering your property, if you buy them you can add millions to your home’s value (depending on the area that you live in). At the very least, you can sell the house for twice its value with a large patch of additional land. You can also use this land to build another structure.
If you own a house, then upgrading its value is a great idea. In addition to the different suggestions outlined here, you could benefit from asking a local estate agent what some popular home upgrades are in your area.
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