Written by: Jessica Kane Published by: Kevin Sha
For many people, their homes are their largest investment and asset. With that being said, it is important if that is the case that a person know how to add value to their home. There are two types of appreciation, appreciation over time and forced appreciated. Forced appreciation is when a person completes an upgrade on the home in order to increase the cost of the home. Below are five cost effective ways to add value to your home.
One of the most simple upgrades to a home is replacing carpet with hardwood floors. There are many advantages of hardwood over carpet, and the cost for this upgrade has gone down considerably over the past few years. Many families prefer to have hardwood floors over normal carpet floors if they have kids. If someone spills their drink on the hardwood floor it is much easier to clean up than if that happens on carpet. In addition, hardwood floors last much longer than carpet and viewing this upgrade from that perspective it can be argued that hardwood floors actually save money over time.
Perhaps the least expensive way to upgrade a home is to change out all of the ceiling fans. Often times for homes that are ten years old or older, the ceiling fans are probably out of date and may have been in style at the time. Ceiling fans can generally be purchased for about $100 each, and for less than $1,000 a person can transform the look of each room in their home with a new and updated ceiling fan. Although the installation of ceiling fans is not simple, it is worth it to upgrade the look of a room. The proper ceiling fans can make a room look both larger and newer.
Granite Counter Tops
In a kitchen, one of the best upgrades available is to put in granite counter tops. For anyone that loves to cook in the kitchen, there are fewer things that can help out the cooking experience like granite counter tops. Not only do the counter tops look great, but they also serve practical purposes in that they can withstand heat more easily. When hosting a large party, it is very convenient to just put a hot plate on the granite rather than having to worry about hurting the counter top.
When adding value to a home, the kitchen is the best place to go first. Granite counter tops with proper lighting in the kitchen will transform the experience of anyone who is looking to purchase a home. Although granite counter tops are not the cheapest upgrade, the have a huge wow factor that any home buyer will love.
Stone Floors in Bathrooms
In addition to kitchens, bathrooms are also a big selling point to any potential buyer. One newer upgrade that many people are looking at is stone floors for their bathrooms. There are many advantages to having stone floors over other kinds, especially when looking at the impact that water has on typical floors. There are even certain stone floors that can be heated. These are a great selling point for anyone who lives in an area that is cold for most of the year. Stone floors are the perfect match of having both a practical use in a home and looking great as well.
Fenced in Front & Back Yard
Finally, one of the best ways to add value to a home is to add in a fence in the front & back yard. For anyone with children or pets, having a fenced in front & backyard can be a huge selling point. Many parents do not want to worry about their children or pets playing outside, and a fenced in yard can add a unique peace of mind that few other upgrades can. Many smaller yards can be fenced in for under $5,000 and this upgrade will be a huge advantage over other homes that do not have a fenced in front & back yard.
Jessica Kane is a professional writer who has an interest in interior design and home decor. She currently writes for Canopy Concepts, a leading installer of custom patio covers and patio enclosures.
Kevin Sha is a professional real estate associate with Royal Lepage, serving the cities in Alberta, Canada. See more information about Kevin.