An eye to the future: 5 ways to bump up home value right now
You may not need to sell anytime soon, but it's important to take steps to prepare for that possibility. Getting the most out of your home when you do decide to sell it in the future means tweaking and improving your surroundings on a regular basis.
So when the time comes, you'll be in a better position to name your price and make a stronger counteroffer. Here are some home value-boosting ideas to try out right now.
1. Repaint every few years
If your home looks like it has lost a bit of its sparkle, a fresh coat of paint might do the trick. And summer is the best time to do it.
Climate conditions where you live dictate the frequency of a paint job. But in general, experts recommend painting the exterior of your house every 5 to 10 years, and the interior every 3 to 5 years.
Painting also keeps bugs and mildew out. The sun can crack unpainted window sills, for example, allowing moisture to seep through and act as a petri dish for all sorts of toxic growth — not a value-boosting moment to be sure.
To extend the life of your exterior paint job, give it a little wash and rinse every so often.
2. Improve ventilation and air quality
If the pandemic has taught us anything at all, it's that air quality and proper ventilation are essential. And a home that has a constant supply of clean air and good air circulation isn’t just more refreshing and inviting, it’s also a clear selling point.
- Ceiling fans improve the airflow in the home.
- Consider window exhaust fans.
- Switch to more effective pleated filters on your HVAC system and replace every three months.
- Schedule a yearly HVAC inspection.
- If you can, add a window or two to a windowless room that you converted to an indoor gym or home office.
- Replace old carpets or ditch them altogether.
- Invest in flooring that’s easier to clean. Try trendy materials like porcelain tiles that resemble marble or wood and waterproof vinyl (or go for the go-to workhorse: engineered wood).
Keep receipts, photos, and notes of improvements for future reference. These come in handy come selling time.
3. Change up those countertops
Replacing old countertops is an instant game changer because the kitchen is the most scrutinized room in the house. However, its look and the value should match the rest of the house. You can’t splurge on a kitchen and leave the rest of the house looking less loved because it’ll show.
If you're considering granite, it generally costs $40 per square foot (some go for as much as $80 to $100). Granite is gorgeous, popular, and when maintained properly, lasts forever.
Factor in the cost of professional installation as well because DIY is not an option here — unless you install countertops for a living.
4. Make choice upgrades and additions in outdoor areas
If you and your family prefer a lot of outdoor living, then go for it. Just don’t expect a future buyer to share your enthusiasm.
Many improvements in outdoor living areas are notorious for having less than ideal ROI despite costing so much. Except for wooden decks, which have one of the highest ROI on remodeling projects. You can recoup 80% of your cost on building the deck when you sell your home.
If outdoor living isn’t your thing, you can still style a porch into a welcoming outdoor receiving area just before you put your home on the market.