Your home’s worth is determined by multiple factors, such as the local market, neighborhood 'comps' and its geographical location. Circumstances like that can be out of your control. However, there are other elements, which you can have a hand in that may increase your home’s value.
1. First Impressions Are Everything
An unkempt exterior can be more than just an eyesore to the neighbors. It can also affect the home owner’s equity and resale value. The exterior is the first thing a potential buyer sees on site, so it’s important to make it look appealing.
To start, step back and really take a good look at the house. Does it need a fresh coat of paint? Maybe just the shutters, or how about the front door? How’s the lawn? Does it need more than just a good mow? Possibly some grass enhancing nutrients and water. Add some flowers for pops of welcoming color. And lastly, how is the drive or walkway? Is it time to replace or maintain?
2. Make It Comfortable and Move-In Ready
Some people enjoy the idea of 'flipping' a house. But the majority of home buyers are looking for a place which is livable right away.
To entice the latter group of buyers, it’s important to take the time to fix things like the roof, basement, garage, plumbing, etc. where needed.
If a buyer feels like they can move in without needing to repair or update right away, it is generally a much easier sell. Not only will this help the sell-ability of your home, if you’re not moving and just want to increase the value, these are good options.
3. Update for Energy Efficiency
Energy efficient home products can have a big impact on your utility bills and a buyer’s decision. Energy efficient appliances, light bulbs, windows and doors not only help to save money but also make your home more comfortable to live in.
To help with these specific upgrades, First Source offers Home Energy Loans, with a low, fixed interest rate.
4. More Space, Can Mean More Value
If you’re looking to add value to your home, sometimes adding square footage can help.
Creating extra space with an addition can be just what you need to give your house that extra lift. Think new rooms, a shed, patio or perhaps an added floor. There are other ways to add living space that do not require creating brand new additions. Finishing an attic or garage can create new rooms and additional space without erecting new walls and roofs.
5. Consider a Smart Home
Smart Homes allow the homeowner the opportunity to have multiple needs connected in one place, usually controlled from one device like your phone. Lights, water, security alarms, door openers, locks, central air, entertainment systems, appliances, windows and even heated floor tiles can all be connected and controlled as long as there is internet/WiFi connection.
Whether you’re getting ready to sell or just looking to increase the value of your current home, we're here to help with Home Equity Loan Options. Call 315-735-8571 to talk about your options or make an appointment with one of our representatives. Simply click on the button below, select the “Apply for a Loan” service from the menu and choose the “Home Equity” option.