Homeowners want their homes to be worth more. By increasing your homes value, you can make a profit when you sell it. You can also refinance and take out a larger mortgage on your home. This means that in the future, if you have to borrow money for something big like a car or house, you’ll have more room for negotiation with the bank because of the equity in your home.
If you are looking to buy a new house, then increasing the value of your current one is important so that it will be easier to get approved for a loan or qualify for an interest rate reduction.
What Major Factors Affect a Property’s Value?
The value of a property is determined by a number of factors. These factors can be divided into two categories: the intrinsic and extrinsic factors.
Intrinsic factors are those which are related to the property itself and can’t be changed, such as the location, size and age of the property. Extrinsic factors are those which affect the property’s value and can be changed, such as renovations or improvements.
Update Your Home’s Exterior Finishes
Some ways that you can increase the value of your home is by updating the outside with planters, having pavers installed in your driveway, or on the sidewalk leading to the front door, or maybe even on your patio.
Landscaping is another great way to update your home’s exterior. You can start by adding flower beds, a rock garden, shrubs, or maybe some small trees.
How to Start and Things to Consider:
Step back and look at your entire property, what are some things that come to mind that you would like to see done differently?
Here are just a few lower cost things that could offer big impact:
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- Adding some artificial turf in the front of your house
- Adding some flowers or planters
- Adding shrubs, flower beds, small trees
Am I doing this because I intend on living there for several more years and these are things I would like to have added? If it is for your personal enjoyment you could consider putting in a built-in grill or a fire pit. Or even your own little meditation garden.
Are you wanting to increase the value because you are going to sell your home and want to get more money for it? Then you might want to consider, depending on your property, installing an ornamental front door or ornamental iron gate door leading to your backyard.
You could also add an iron entry door or an ornamental iron gate leading to your backyard.
Additional things you could do to increase the value of your home in 2023
- Contemporary railings
- Ornamental handrails, such as wrought iron
- Window guards to add an ornamental iron appearance to windows
- Iron security doors
- A custom made balcony to fit your homes unique look
- Window flower boxes
- Iron fencing
- Or, if you currently have a chainlink fence you could upgrade to a block wall with iron fencing
There are so many ways you can update the exterior and interior of your home to increase the value in 2023 and J or J Welder can assist you with all of them.
