Construct Equity into Your Home
The first project you should complete in your home is to finish any areas of the house that are not used. If you have a basement that is not finished, by sheet rocking the walls, carpeting the floor and adding the square footage to the overall house size you can increase your assessed value of your home. If you are handy enough and have a friend that can help you along the way, finishing a basement can be easy and done in a few weeks. Give the space it’s own feeling and everyone will awe over the space.
Anytime you put new flooring in your home, the value of the house will increase. This is especially true when you use original materials such as hard wood floors and porcelain tile. Wood floors give the house a renewed image and tile brings out the beauty of the house.
A kitchen remodel is always a great way to boost the value of your home. New cupboards made of 100% wood are ideal and countertops made from granite or Corian surfaces are very appealing. If you need new appliance, stainless steel is in, and will bring a higher level of sophistication to your home. Home buyers love open kitchen layouts with views to the living and dining room. If you kitchen is closed in, perhaps you could remove a wall to open it to the rest of the house.
New light fixtures can also boost the value of your home. By changing out the old fixtures and updating to new stylish chandeliers or ceiling fans, you can highlight the lighting in your home. Even the little things in your house make a big difference to the overall feeling your home brings to the people who enter in.
One area to focus your energy on when trying to improve your equity is the entryway. If you have an old door, try to upgrade to a wooden or glass entry door to accentuate the area. Remember, the entryway is the first thing people notice when walking up to your house, so make it look good. Dramatic lighting is also great in your entryway or foyer.
If your driveway is cement or blacktop and appears dated and cracked, you may want to refinish it. There are many products on the market that will give your driveway a new finish. By sealing the blacktop or painting the cement, the driveway will appear new and bring your bottom dollar up in your house’s value.
Your landscaping can also add or decrease the value of your home. Tidy up any landscaped areas by weeding and finishing borders. Trim any hedges or bushes near to your house so that the appearance is a clean line and there are not stray branches and bushes around your house. Less can often be more when it comes to landscaping, so try to keep it simple. Many home owners do not want to have a landscape that requires a lot of work, so hardscaping may be ideal over planting plants. Look for water fountains, rock walls, and large boulders to accentuate your house’s natural beauty.
Fresh paint throughout your house will also increase the value of your home. Walls become dark and dreary easily, but with a fresh coat of paint, the entire house will feel new. Be sure to clean the trim up as well, and repair any cracks in the walls.
If your house lacks outside living spaces, adding a deck or patio will increase the value of your house enormously. Every one wants outside eating and living space, so by adding some to your house, the assessed value will rocket. Decks and patios are fairly simple to build and can be completed in a few days or weeks if you know what you are doing.
All of these ideas to build equity in your home do take time and money. However, if you view the payback you will receive should you sell the house; the time and money are well worth it. You can never go wrong when you are improving your house and updating simple things.
