Easy Updates That Increase Your Home's Resale Value
In the past, homeowners have typically known what updates will give them the biggest bang for their buck when it comes to resale. From open concept living to modernizing all things kitchen and bath, doing a quick Google search is all you needed to do to know exactly what your return on investment would look like.
But, with the introduction of smart technology and further advancements in sustainable homes, knowing just what to revamp has become a confusing process. And with the unpredictability of being in the military, you may be hesitant to start doing any major renovations on a home that may be a temporary shelter.
Instead of plunging into a full-on remodel that requires all hands on deck, make smaller changes that can be made in a shorter amount of time that will still pack a big punch when it comes time to list. Read on to learn more about the best home updates to try in the new decade.
3 Easy Updates That Increase Your Home's Resale Value
1) Smart Home Technology
2020 is the perfect time to update your home’s technology. Rather than struggling on with each and every mundane task life has to offer, make your home work for you by improving its smart capabilities.
From Alexa to Siri to Samsung, there are plenty of offerings to choose from. Most products are now adaptable to the most popular virtual assistants out there which makes pairing your home a breeze. Not sure what the weather has planned for the day? Just ask your smart device before you step out the door.
When it comes to updates specifically, think of appliances or other commodities you use every day. If you’re sick of running out of room in the fridge, try a smart refrigerator that allows you to see exactly what’s in it without even opening the door. Or, try a smart thermostat you can control right from your phone. Determine the temperature, location, and time to kick on the HVAC system, so you’re never heating or cooling an empty room.
The best part? These are all updates that can be made over time, making them even easier to integrate into your schedule and budget.
2) Sustainability Upgrades
Did you know that going green can actually save you some green as well? Upgrading your home to be more sustainable is not only a great way to boost resale value down the road, but can also save you money on your utilities in the short term.
Investing in solar, wind, or geothermal energy are currently some of the most common considerations when it comes to sustainability. With solar energy, you’d have to include the cost of panels and installation. However, with its growing demand, numerous professionals in the market can steer you down the right path. In regards to wind or geothermal power, you will have to reside in an area with proximity to turbines, making them more limited resources for alternative energy.
These updates may require more funding, but you will typically see their benefit with the savings in your monthly expenses. If you don’t have the money up front, think about taking advantage of your home’s equity to help fill your bank account. At the end of the day, your piggy bank and the environment will thank you!
3) General Maintenance
While general maintenance doesn’t seem like an important update, if you let it fall to the wayside, you’ll be in the hole when it comes time to resell.
Stay ahead of wear and tear by addressing issues as soon as they arise. Paint your walls in colors that will appeal to prospective buyers in the future, fix the roof if it leaks after a big storm, and replace old windows that are clearly way past due. Keeping your home in tip-top shape will save you a lot of headaches in the long run.
If you’re looking for something a little more time consuming, take your efforts outdoors. Replacing siding, building a deck, or even changing the color of your home are all updates that will give you more for your money when your home hits the market. Most of the work you can do yourself too, making these cost effective alternatives a sure thing.
About the author: Molly Grace is a content writer for an online lending company. She enjoys sharing information about home improvement, mortgage loans and the real estate market to help readers tackle the home buying process.