Written by: Chad Zollinger | Best Company Editorial Team
Last Updated: February 24th, 2020
Moving into a new home may be one of the most stressful events of adulthood (right alongside having a job and raising children). Choosing the right home is half the battle; what you do with that home is the other half. Make sure you follow these essential tips for increasing the value of your home, protecting your investment, and making your house a home.
Take precautions to protect your home from burglars. The first, most effective thing you can do is to make your home at least appear protected. According to The Safewise Report, almost 60 percent of burglars avoid homes that appear to have home security systems. That means that all you have to do to deter burglars 60 percent of the time is make your home look like it has protection. Now, obviously the appearance of the home is not enough; what about the other 40 percent of the burglars? The next step is to actually invest in home security. Install smash-proof windows and hire a company to install a home security monitoring system.
First-time homeowners should be especially careful not to spend too much on their first home. HGTV advises homeowners to invest time in sweat equity, which is essentially the process of increasing your home value through hard work. Successful do-it-yourself projects can increase the value of your home and help prepare you financially for your next home. Homeowners should also consider putting extra money toward the home’s down payment to reduce the financial risk; it doesn’t hurt to be able to start out with some equity on your side.
After you’ve safeguarded your budget and protected your home from burglars, consider investing in a good home warranty plan. There are many misconceptions and understandable fears about getting a home warranty. What if the warranty company bails at the last moment? What if you are left with a broken furnace and no money to pay for it? Rest assured that there are many qualified, dependable, and trustworthy home warranty companies, such as Landmark Home Warranty, that can get you the service you need at an affordable price. With the right amount of research, you can find the best home warranty company for you.The secret is to read contracts closely, ask a lot of questions, and research into past customer experiences with the company you are considering—never passively choose a home warranty company.
What Affects Home Value?
If you’ve already bought your home, you should have already checked whether the neighborhood is safe, where the nearest school is, the noise level, and whether there are industrial parks nearby. An additional factor could be something as simple as whether the homes in the neighborhood are well-kept and maintained. According to Business Insider, citing Joe Magdziarz, an “overgrown yard, peeling paint, and clutter can easily knock 5% to 10% off the sale price of your home.”
Affordable Home Makeover
Make your home your own. It’s incredibly easy to move into a new home and put out a few essential pieces of furniture for function. You’d be surprised how much happier a personalized home can make a family. Try a fun color scheme for your kitchen or bathroom. Hang unique wall decorations that tell a fun story about your personality. If you’re out of cash, planting a vegetable garden is an inexpensive way to brighten the exterior of your home as well as save money on vegetables.
Whether you’re a first-time home buyer or you’re moving into a home in retirement, it’s important to plan ahead. If you budget accordingly and put plenty of hard work into your home, you’re sure to have a few extra pennies left over to spend on decorations and even additions. In the end, you might have increased the value of your home enough to move into an even better home.