Home prices have increased during the past decade. Currently, home prices have reached $420,000 on average. However, did you know you can raise that bar? You can sell your home for a much higher price if you’re creative. If you plan to sell your home this year, ensure you can get the best value. Here are some ways you can do that.
Add a Swimming Pool
if there is one reliable way to sell your home at a much higher price, then getting a swimming pool is your best bet. Since the pandemic started, more people have been looking for swimming pools. That’s because they lack access to public swimming pools and the beach. Americans are now deprived of one hobby that can cool them off during hot days. That’s why swimming pools are such a great option.
There are two types of swimming pools. The first type is an above-ground pool, and the second type is below ground pool. An above-ground pool is more common among the two because it’s cheaper. The average cost of an above-ground pool is about $6,200. However, don’t expect too much value from it once you sell your home, as it can easily be disassembled. On the other hand, the average cost of a below-ground or in-ground pool is $28,000. This is the type of pool you want if you want to add more value to your home. It will last longer and adds more aesthetic appeal.
Remodel Your Home
This is a no-brainer. You can increase the value of your home by remodeling it. However, you need to be strategic about the changes you make. Not all renovations are created equal. Some will cost you more money but won’t necessarily increase the value of your home as much.
The most important thing to remember is the return on investment or ROI. This is the percentage of how much money you’ll get back after renovating your home. For example, if you spend $5,000 on a bathroom remodel and your home’s value increases by $6,500, your ROI would be 130 percent. On the other hand, if you spend $30,000 on a kitchen remodel and your home’s value only increases by $22,500, then your ROI would be 75 percent.
Here are some of the highest returning investments
- Bathroom remodel: ROI of 100 to 200 percent
- Minor kitchen remodel: ROI of 80 to 130 percent
- Deck addition (wood): ROI of 70 to 80 percent
- Window replacement: ROI of 70 to 80 percent
As you can see, some home improvements have a higher return on investment than others. It’s essential that you focus your efforts and money on the renovations that will give you the most bang for your buck. If you want to get better ROI, ensure to get the right contractor for your project. You should look for an experienced finish carpentry service near you. This service handles all sorts of remodeling and renovation projects. Finding the right one can save a lot of money and earn more from your remodeling.
Build an Addition
If you have extra space on your property, you can add an addition to your home. It’s a great way to add more value to your home. The most common type of addition is a room addition. This involves adding an extra room to your home. The cost of a room addition depends on the size and complexity of the project. However, you can expect to spend at least $20,000 on a small room addition.
The great thing about a room addition is that you can use it for anything. You can turn it into a bedroom, a home office, or even a playroom for your kids. It’s a great way to make use of extra space and increase the value of your home at the same time.
Install Smart Home Technology
If you want to stay ahead of the curve, then you should install smart home technology. Right now, the market is estimated to be worth $4.3 billion. That’s how popular it is to the American people. In the next few years, that number is expected to grow exponentially.
The good thing about innovative home technology is that it can be used for various purposes. You can use it to control your lights, security system, and even your thermostat. It’s a great way to increase the safety and security of your home. Not to mention, it can also help you save money on your utility bills.
Installing smart home technology is a great way to increase the value of your property. If you’re planning to sell soon, this is a great way to attract buyers and get top dollar for your home.
Increasing your home’s value doesn’t have to be too complicated. You can do a few simple things to add value to your property. By following these tips, you can be sure you’ll get more money when selling your home.