One of the top priorities of many homeowners across the country is increasing their home equity. If you’re unfamiliar with home equity, it’s simply the difference between what your home is worth and what you still owe on your mortgage. So, how do you increase your home equity? The answer is simple: To increase your home equity, you need to improve your home’s value.
Increasing your home’s value involves adding some upgrades to the house. You can make countless upgrades to your house that will boost its value. However, these upgrades all vary in how much they actually increase the home’s value. Today, we’ll cover some of the best upgrades that will increase a home’s worth. So, let’s jump right into it.
You may be surprised to know that your appliances will increase your home value. However, the appliances increasing the home value mainly applies if you plan on leaving these appliances behind if you choose to sell your home. So, this doesn’t mean that you have to get rid of your old appliances and replace them with new ones. If you already have quality, energy-efficient appliances in your house, you just need to keep them in good condition. If you’re having some trouble with one or more of your appliances, you can hire a qualified appliance repair company. These licensed technicians will service your home appliances and keep them working like new to make the most of your home’s value, such as this company offering appliance repair in Redmond, Oregon.
Windows are an often overlooked home upgrade that will not only increase your property value but also make your home much more comfortable and energy-efficient. Outdated windows are one of the biggest causes of energy loss in any home. When you have older windows with worn seals and thin glass, heat and cold air can escape, making your heating and cooling system work harder to maintain the temperature in your home. In turn, this extra load on your HVAC system will cause higher utility bills. Furthermore, when you have new, energy-efficient windows that reduce energy loss and ultraviolet light and have modern designs, it makes a drastic impact on your home value. If you want to utilize this home upgrade, find yourself some reputable, licensed window contractors to replace your outdated windows.
A new roof may be one of the more expensive home improvement projects you can take on, but it makes a significant difference. An old or damaged roof can cause many problems for any homeowner, from water leaks to energy loss to pest infestations. All of these problems will detract from your home’s value. However, you can mitigate these risks with a new roof while increasing your property value simultaneously. For example, if you have an asphalt shingle roof that’s roughly 10 or 15 years old, consider replacing it with a new, more efficient metal roof. A metal roof will last approximately 10 years longer than a shingle roof and can help maintain the temperature in your home better.
If you don’t have a deck on your house, you should consider one if you have the room. A deck is not only one of the top upgrades you can include increasing your home value but also one of the most sought-after amenities for prospective buyers. Roughly more than half of people looking to buy a house check to see if it has a deck for the additional living space and outdoor comfort. Therefore, when you add a deck to your house, you’ll increase the property value and make your home more appealing to potential buyers.
Increasing Your Home Value
With these upgrades, you’re set to increase the value of your home dramatically. So, remember to keep your appliances in working condition, replace outdated windows, update the roof, and consider adding a deck to increase your home’s value.