Buying a home is a huge financial investment. If you’re looking to make changes that will add value to that investment, you’ve come to the right place. Here are five tips for getting the most value out of your home.
1. Rent It Out
Even if you plan to live in the home full-time, eventually, renting it out for a while first is a good option. Here’s why.
- Renting the home out could help you pay it off quicker. This is a great way to get more value from your investment.
- If the home is in a tourist-friendly area, you might be able to rent it out as a vacation rental. You can get a vacation rental loan to help you buy the home initially and then pay it off with the income you make from the home.
- When you get tired of renting it out you can live in it as planned, with a much lower mortgage or loan payment if you’ve used the income from it to pay down the balance.
Renting out the home for even a short time before you move in can really lower your monthly costs.
2. Open Up Rooms And Create More Light
Dark or cramped rooms don’t feel comfortable. When possible, go with an open concept and bring in as much light as possible.
- Eliminate unnecessary walls.
- Don’t arrange furniture in a way that divides the room.
- Make windows as large as possible to let in natural light.
- Go with window treatments that allow lots of light to pass through, like a thin curtain.
- Add interesting overhead light fixtures.
A bright and open space feels warm and inviting. This will improve your experience in the home and increase your resale value.
3. Remodel The Bathroom
The bathroom is an area in a home that becomes outdated fairly quickly. To add value to your home, remodel the bathroom every few years.
- Add new fixtures that are in style.
- Paint the room a new color.
- Add some fun wallpaper to the walls, or even just to one wall.
- Bring in a new mirror in a different style.
- Change the hardware on drawers and cabinets
- Stain or paint the wood of drawers and cabinets so they look fresh.
- Pick out new decorative pieces to sit out in the room. A chair to lay towels or clothes on is a simple idea that can really change the look.
Updated bathrooms are at the top of the list when it comes to buyer and renter requests. So it won’t hurt to spend some time fixing yours up.
4. Create A Beautiful Master Bedroom
The master bedroom is a sanctuary in a home. Be sure to give it the proper attention.
- Use soft, restful colors.
- Add a statement headboard to the bed.
- Decorate the room simply.
- Arrange furniture to show off the amount of space the room has.
- Install a dimmer switch so the lighting can be soft.
Bedrooms should be a relaxing oasis. Creating a peaceful first impression can really help sell the room and your home.
5. Go Gourmet
A gourmet kitchen is another item that sits at the top of buyer and renter wishlists. If you want to add some value to the tastiest room in the house, update the kitchen often. So what goes in a gourmet kitchen?
- A professional gas range stove.
- A double oven.
- A convection microwave.
- An aesthetically pleasing refrigerator.
- Easy to clean surfaces that are attractive to the eye.
These are just a few items you can add to your kitchen to get the gourmet effect and to add the gourmet price tag to your home.
Using these five tips will help you get the most value from your home, both now and in the future.