Some aspects of property value you can’t control, such as your home’s location and current market conditions. However, there are some things that you can do to increase your home’s value and attractiveness. You’re probably aware of some common improvements that increase value, such as upgrading appliances, manicuring the lawn, and remodeling the kitchen. But one enhancement that you might not be aware of – and one that can make a positive difference – is solar energy.
1. Enhance Your Home With Solar
Putting solar on your home can significantly increase its value. A study by the National Renewable Energy Laboratory (NREL) shows that every $1 saved on your utility bill by going solar adds $20 to your home’s value. In Las Vegas, the average utility bill is about $177 per month. In one year, that amounts to an increased value of over $40,000! Solar installers Las Vegas say that between the cost savings to you and the appeal of having a reliable source of (renewable) energy on the property, solar is a sound investment. You can learn more about solar’s benefits for property value here: https://us.sunpower.com/blog/2018/02/05/how-solar-affects-home-values/. When you’re ready to add solar to your home, contact a Las Vegas solar company for a quote.
2. Add An Addition
Perhaps you haven’t been able to justify adding on to your home in the past, but increasing your home’s square footage is a surefire way to raise the property value. Larger homes can often command a higher asking price, and a recent addition adds to the home’s curb appeal, too. Adding more living space to the interior, finishing the basement, or putting a deck on the house are all great ways to boost the property value.
3. Install Smart Technologies
Just like a car, you can add “smart” technology to your home to make it safer and more appealing. Smart technology can replace traditional items like fire alarms, carbon monoxide detectors, security cameras, locks, and more. Although they might not directly increase home value, a survey by Coldwell Banker found that in 2018, most home buyers cited smart technology as a must-have feature in their next home.
4. Boost Curb Appeal
Curb appeal is an easy and effective way to increase your home’s value. After all, the way that your house appears from the street can make or break the difference between the house selling and being a property that a prospective buyer passes on. The landscaping should be neat and maintained, and it doesn’t hurt to repaint the street-facing doors. In warm weather, adding a garden with colorful flowers adds aesthetic appeal, too.
5. Remodel Key Rooms
If there are two rooms in your house that should be kept modern, it’s the kitchen and bathrooms. Stainless steel fixtures, commercial-grade appliances, custom cabinets, and new floors are some basic and cost effective improvements you can make to these rooms. And they don’t have to be extensive, either – even a minor kitchen remodel can regain over 50% of its cost. A bathroom remodel will have about a 70% ROI.