When homeowners choose to upgrade or remodel their home, their primary goal should be to increase the value of their home, even if they are not planning on selling it. The older a home is, the more upgrades it requires, and it is up to the homeowners to determine which upgrades are necessary, and which ones can wait. There are definitely upgrades that can actually decrease the value of your home, as well, so it is important that homeowners avoid those upgrades if they want the value of their home to rise instead of fall. Here are some dos and don’ts to upgrading your home.
Becoming more energy efficient
One of the quickest ways to increase the value of a home is by making it more energy efficient. If you are planning on selling your home, nothing appeals more to potential buyers than saving on utility bills thanks to energy efficient appliances, heating and air systems, and electrical systems. If you are not selling your home, then you can revel in the benefits of an energy efficient home. Upgrading your home should increase the quality of which you live, and going green is one way to do so. It can be costly to purchase energy efficient appliances or replace electrical systems, but these are upgrades that do not take long to pay for themselves.
Exterior upgrades to consider
The exterior of your home is definitely just as important as the interior, especially if you are trying to sell your home. Curb appeal is vital if you want to attract potential buyers. Invest in a sprinkler system to keep your lawn and gardens green and luscious and most importantly increase the value of your home. Replace siding that is worn out is also something to consider if you are looking to spruce of the exterior or your home in order to increase value. The better your home looks on the outside is the more interest it will generate from potential buyers, so focus on the exterior as well as the interior.
Upgrades to avoid
Believe it or not, pools hardly ever raise the value of a home. If you plan on selling your home, do not install a pool hoping that it will attract more buyers. Pools are fun, but they are also a lot of maintenance, and most home buyers do not want to deal with the maintenance according to Life Hacker. Another upgrade to avoid is converting a bedroom into something else such as an office or library. Bedrooms are much more valuable to home buyers than libraries, offices or walk-in closets. You might also think that hanging ornate lighting will attract buyers, but buyers actually prefer dimmed, comfortable lighting rather than gaudy, extravagant and bright lighting. Lastly, avoid converting your garage into a workshop or extra family room. The appeal of a garage is to have somewhere to house vehicles, and if the garage does not serve that purpose, buyers will look elsewhere.
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