The Top Three Ways to Improve Your Home's Resale Value
1. Add Square Footage: Square footage is the first thing an appraiser looks at when determining the value of your home.Â If your home is noticeably smaller than others in the neighborhood, you should definitely consider adding square footage.Â Just be sure to check local building codes and permits.Â
2. Remodel your Kitchen: A kitchen remodel is one of the most popular and cost efficient ways to improve the resale value of a home. If handled wisely, many improvements in the kitchen can add more more value than the initial cost, meaning that your return on investment is quite large. An attractive and well-planned kitchen catches potential buyers' eyes and gives the impression that the entire home is in excellent condition.
3. Improve Energy Efficiency: According to JM's Energy Awareness Month Survey, only about five percent of homeowners realize that improving the energy efficiency of their homes will increase the resale value. Yet every dollar saved in annual utility costs is equivalent to a $20 hike in the market value of a home, reports the Appraisal Institute.Â For instance, say you insulate your attic, resulting in a $300 in annual savings on energy costs, you can then add $6,000 to your home's value.