If people could time travel and witness the average house value and their steady uptrend over the last few years, it would blow their minds. Unlike the stock market, real estate is a sturdy investment that increases in value over time, barring any financial crises like in 2008. However, with the inflation rate at a staggering 8.3 percent, it leaves homeowners wondering if their assets can go up any further.
Fortunately, there are ways to increase home value with some popular home improvements. Keep reading to five ways to increase your home value in 2022.
1. Upgrade the Finishes
Despite the extraordinary growth, there are many DIY home improvements you can do to increase your home’s value if you plan on selling this year. The first big impact project you can make is to upgrade your home’s finishes.
Although superficial, upgrading your home’s finishes gives realtors something to rave to their clients about. Whether it’s a fresh coat of paint or replacing your front door, you can be sure that you’ll see a nice bump in value.
2. Upgrade Old Appliances
Secondly, it pays to invest in energy-efficient upgrades. This could be a solar panel kit, energy-efficient windows or even upgraded washers and dryers.
If your home currently uses old appliances that funnel energy and make your interior feel antiquated, even installing moderately priced appliances can help raise your home’s value. This is because it allows potential buyers to lower bills, which is much more appealing.
3. Declutter Your Home
Whether you’re getting an appraisal or selling your home, one of the easiest and most budget-friendly ways to increase value is to declutter your home.
This can mean anything as simple as a little spring cleaning to give your home some shine to installing a small utility shed to make your home looks more spacious.
Either way, take the opportunity to do some deep cleaning like washing your baseboards, getting rid of excess junk and dusting in otherwise ignored places.
4. Finish off an Unfinished Space
Finished square footage plays an important role when calculating a home’s fair market value. Finishing off an unfinished space doesn’t mean you have to type in “home contractors near me” to invest in a big makeover. Adding carpet or hardwood to an unfinished basement and putting up drywall can be profitable.
5. Work on Your Curb Appeal
Your curb appeal is one of the most important aspects of your home from the potential buyer’s perspective. It’s the first thing they see and a deciding factor if they’ll take a single step inside.
Freshening up your curb appeal doesn’t require thousands of dollars, and they’re one of the many home improvements in 2022 that you can do yourself. Adding simple features such as fresh mulch and new plants can make a great lasting first impression.
How to Increase Home Value in 2022
If you have the budget to hire a handyman or contractor, by all means, use your resources! But a vast majority of home improvements to increase home value in 2022 can be done yourself. However, it must be done properly or else it could negatively affect the results!
If you found this blog helpful, check out some of our other recent posts for more tips!
- About the Author
Alex Grigoryan is a Professional Home Improvement and Lifestyle Writer. He has been in the industry for over 6 years and has been writing for Chique Home Living since 2019. His work has been featured in prestigious blogs such as Spruce Home, Better Homes & Garden, and more.