Best Ways To Add Equity To Your Home

As a homeowner, you’d want to add value to your property as best as possible. Investing wisely in the renovations will let you enhance the home value and still have some savings for future upgrades.

There are several ways to add equity to your home. Whether by adding a bedroom, building a pool or a garage – think of the best strategy to increase your home’s value.

While it may be tempting to do all the upgrades, it’s not the wise choice. Determining the condition of your present house and how long you are planning to stay at the current home are important factors to consider during renovations.

For instance, if you are planning to stay long, then going for big upgrades like layout changes is reasonable. Otherwise, stick with small but significant changes to your home.

Today, we will look at some of the house renovations that add equity to your home.

A Bathroom/Kitchen Renovation

One of the important upgrades that will add great value to your home is the bathroom or kitchen renovations. Both spaces are essential and make your living comfortable. If you have a small budget where you can only focus on one upgrade, then the kitchen or bathroom should be your priority.

As simple as a fresh coat of paint or adding a cabinet for storage is enough to change the look of your kitchen or bathroom. Other upgrades also include upgrading the lighting, changing curtains, adding a new carpet and many more.

Renewed Storage System

If there are no proper storage options in a house, it will be a great turn-off for buyers. A home should have enough storage space in the form of cabinets, wardrobes, open shelves, racks, and wall and door hooks.

So take a renewed storage system as the second priority if you are looking to upgrade your home that adds equity to it. Consider adding them in areas like the kitchen, bathroom, living room, laundry room, outside balconies, etc. Instead of free-standing wardrobes, built-in shelves are more appealing to buyers.

Enhance Your Outdoor Space

If you have a garden or an outdoor space, then consider giving it a deep clean. For the garden, remove the weeds, sweep off the debris, trim the overgrown plants, and clean the paved areas to give a fresh look to the garden.

For other outdoor areas like patio, deck, etc., see that the floors are immaculate and the furniture placed on it is neat and functional. A good and clean outdoor area immediately adds value to your home when you want to sell it.

Invest in an Extension

Whether to accommodate your growing family or to serve a general purpose – an extension is a good way to increase the value of your home. Building an extra bedroom, a guest bathroom, a balcony that’s adjacent to the kitchen, a laundry room, etc., are some of the good choices to consider if you are thinking of an extension. 

Get New Flooring Material

Revamping the flooring is also a good way to add equity to your home. If the current flooring is damaged or looks old even after cleaning, then invest in a good flooring material. The new flooring gives a fresh look to your house and looks attractive in buyers' eyes.

Painting The Whole Home

Your home will regain a fresh look once you do a nice painting job. Paint both exteriors and interiors with appealing and eye-catching colours. You have to make sure to choose general colours if you are thinking of selling. 

As you don’t know what each buyer wants in terms of colours, you have to be general while choosing the paint colour for your home.

Upgrade Your HVAC System

To withstand the Australian unpredictable weather, you have to ensure the HVAC system inside the home is up and running all the time. Upgrade the system if the current one is old, damaged, or fluctuating. A home with a good and functional HVAC system is sure to look enticing for buyers.

Final Thoughts

Adding value to your home is a good thing when you know how to do it within your budget. Prioritising the renovation tasks according to your needs and budget will improve your home's equity immensely when you want to sell the property.