When you buy a home, you take a step in investing in your financial future. If you are planning to sell it at some point, you can make a few upgrades that won’t break the bank, but that will increase its value a lot. Here are five easy, affordable ways to increase the value of your home and get a great return on your investment.
Pave Your Driveway
A well-paved driveway makes a great impression on potential buyers. Since it is the face of your property, most people will judge the house before they even get in to look at anything else. Besides lowering the value of your home, a damaged driveway presents a hazard and is a safety concern that home inspectors will be forced to document.
Driveways that have been paved with asphalt can last between 12 and 20 years, while those made from poured concrete generally last up to 30 years. You can choose the look you want as well as the length of time you want your driveway to last. As long as you seal it and take good care of it, it will give your home a neat look and a good market value.
Maintain Your Septic Tank
Your septic system is important to keep maintained as well because it is better and cheaper to maintain it regularly than it is to replace it. With most septic tanks requiring to be cleaned after every three to five years, it is not something that you need to do often, yet it can have a big impact on the value of your home.
Failure to maintain your septic tank leaves you open to possible issues like backed-up plumbing, a squishy, smelly lawn, an expensive problem to fix, and a degraded value to your home. Besides the obvious health concerns that come with leaking and problematic septic systems, there is also an environmental concern. Take the time to keep your septic system well-maintained and avoid a host of problems that could affect your entire community.
Upgrade to Energy Efficient Features
Most people buying homes nowadays pay extra attention to the state of the fittings and features. They will generally favor modern ones that not only look and work better, but that will also save them energy.
If you have appliances that need an upgrade including furnaces and microwaves, take the time to research on those that will be the most energy-efficient. Even if you are not planning on selling your home immediately, you also stand to benefit from lower energy usage in your home.
Upgrade Your Bathroom and Kitchen
Indoors, the two spaces that are most likely to have an effect on the value of your home are the kitchen and bathroom. They will also be the most likely to need regular upgrades because of the rate at which appliances, decorations, and finishes become dated.
With the Remodeling Impact Report suggesting that you can recover up to 50% of the resources spent on remodeling a master bathroom when you sell your home, upgrading these two spaces becomes even more crucial. You could go a step further by adding a new bathroom or expanding the kitchen by bringing down a wall or two.
When thinking of upgrades to make to your home, you should do some research to find out what trends are current. Make sure that the finishes and fixtures you get have a positive impact that will last for a long time, so you don’t have to redo them in a short time. This will also give you the best chances of recovering your costs if you sell.