Appreciation – a word that brings smiles to every homeowner in this country. It is a phenomenon that appreciates the value of your home over time. The concept of appreciation is that the more you appreciate home, the better profit you will bag in the next resale.
According to Damon Becnel, the average appreciation rate of homes in the USA is 3.9%. Do not start celebrating. This percentage is true only for the homes in good condition and have sustained their new charm.
The only way to ensure your home’s value is appreciated is to ensure that you keep tabs on your home’s health and invest some in the maintenance.
What Makes Your Property Value Increase?
Real estate investment has always been considered a fruitful asset. It is one form of investment that brings more profit than investing in stocks and bonds. In addition, investment property is one of the few restored assets higher than the inflation rates.
However, only a fraction of the property can do so. This is because most people are not aware of what they need to do to appreciate their home’s value.
Here we have talked about a few tricks that will help you appreciate the value of your home.
Trick 1: Install More Storage
Buyers look for more spaces. Even if they buy a small house, they tend to see how every corner space is being used. If they feel like the spaces are being wasted for nothing, they lose their interest in the home.
You can take advantage of this behavior by giving them some additional spaces to experience some WOW moments. For instance, you can add some bathroom shelves, drawers, and a cupboard in the kitchen and effectively use the spaces under the staircase as storerooms.
Trick 2: Improve The Outdoor Area
Giving your home a good outdoor area ensures that buyers get something more than what they have expected. A well-kept lawn with decorative plants and a sitting area outside changes a person’s perception of how they perceive the home. This will help you get more than the actual market price of the home.
Trick 3: Simple Fixture Changes
It is important to know the area where your house needs renovation. With time, the house faces problems. You need to keep track of the home’s health and ensure that every problem is taken care of.
In addition to that, you must keep your home updated with modern trends. For instance, replacing the handle of the door, changing the windows, and elevating the home’s appearance according to the generation.
Trick 4: Home Decor & Interior Design
Home decor is an important aspect that determines the value of your home. How your home is perceived from the streets plays an important factor in value appreciation. You can do so by integrating beautiful interior designing. If the home is a stand-alone unit, you add a fence around the home, paint the exterior and add some props outside.
And if it is an apartment, you change the doors, windows, wallpaper, and with some affordable interior designing, you can elevate the look.
Trick 5: House Insurance
Finally, make sure you have house insurance. Having house insurance ensures that your house is safe from perils such as fire, flood, and earthquake. If there is a loss due to any event listed here, the insurance company will support you to cover the losses. Furthermore, having house insurance elevates the price of the house.
Final Thoughts
We hope that these tricks will give you valuable insight into how to appreciate the value of your home. You must always remember that your people pay for the home not by looking at the house but for what the house offers to them.
We have already talked about a few things that you can look into to add value to your home. If there are suggestions that you would like to share with us, we are always open to accepting such efforts.
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