{"id":1379,"date":"2022-06-07T17:07:52","date_gmt":"2022-06-07T17:07:52","guid":{"rendered":"https:\/\/www.mirabilishomes.com\/blog\/?p=1379"},"modified":"2022-06-07T17:08:31","modified_gmt":"2022-06-07T17:08:31","slug":"top-3-ways-to-increase-your-homes-value","status":"publish","type":"post","link":"https:\/\/stg.mirabilishomes.com\/blog\/top-3-ways-to-increase-your-homes-value\/","title":{"rendered":"Top 3 Ways to Increase Your Home\u2019s Value"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1379\" class=\"elementor elementor-1379\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-740b7d8 elementor-section-height-min-height blog-breadcrumb-section elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"740b7d8\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-45b52b4\" data-id=\"45b52b4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b21db70 elementor-widget elementor-widget-heading\" data-id=\"b21db70\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">News Details<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-753c2b0 elementor-widget elementor-widget-elementskit-breadcrumb\" data-id=\"753c2b0\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"elementskit-breadcrumb.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"ekit-wid-con\" ><ol class=\"ekit-breadcrumb\"><li><a href=\"https:\/\/stg.mirabilishomes.com\/blog\">Home<\/a><\/li><\/ol><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-69cd4fa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"69cd4fa\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d032f1e\" data-id=\"d032f1e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-714a6aa elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"714a6aa\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h1 class=\"elementor-heading-title elementor-size-xl\">Top 3 Ways to Increase Your Home\u2019s Value<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7402ef6 elementor-widget elementor-widget-post-info\" data-id=\"7402ef6\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-11e5c3b elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-calendar\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\tJune 7, 2022\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f20441a elementor-widget elementor-widget-text-editor\" data-id=\"f20441a\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>It is no secret that today\u2019s housing market is on the rise. As buyers clamor for a limited supply of<br \/>homes on the market, how can you ensure that you squeeze every last drop of value out of your<br \/>home? In this article, we will discuss various ways to add value to your home and the type of<br \/>value each may provide, whether it be Actual Value, Perceived Value, or Comparative Value.<\/p><h4>\u00a0<\/h4><h4>1. <span style=\"text-decoration: underline;\">Make it Bigger<\/span><\/h4><p>\u00a0<\/p><p>Adding usable square footage is the most sure-fire way to add immediate actual value to<br \/>your home. Adding more space is the top way to add value based on the methodology for<br \/>assessing a home\u2019s value. In a market largely dictated by square footage, this will immediately<br \/>and without question, make your home inherently worth more. This concept is especially<br \/>impactful in markets where the price per square foot is escalating or tends to remain very high.<br \/>Because of the higher price per square foot, homeowners can realize exponential value<br \/>increases by simply finishing out otherwise unused spaces. To illustrate, let\u2019s take two Texas<br \/>markets\u2019 average prices per square foot and compare the two. According to Realtor.com,<br \/>Houston\u2019s Median Price Per Square Foot as of April 2022 was $176 compared to Austin\u2019s at<br \/>$356. Nearly double! That means for every 100 square feet of usable space added to a home in<br \/>Austin, homeowners would see an increase in home value at twice the rate of Houston<br \/>homeowners. This strategy isn\u2019t necessarily the most cost-friendly to incorporate, but it is<br \/>definitely the most effective, and in cities, with high prices per square foot the return on investment<br \/>can be extremely attractive!<br \/>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 However, adding square footage does not necessarily have to be very expensive or<br \/>arduous. While one way to add square footage is by creating a brand-new addition to the home,<br \/>(including new exterior walls, foundation, etc.) homeowners may also finish out existing spaces<br \/>like the garage, sun room, or basements in select markets. One final consideration here is to be<br \/>cognizant of your home\u2019s current size and how impactful adding additional space can be. For<br \/>example, adding a new 100 square foot bedroom to a 1000 square foot 2-bedroom, 2-bathroom<br \/>bungalow in Austin would carry much more value than adding 100 square feet to a 3,000 square<br \/>foot, 5-bedroom home in Houston. First, there is a much higher square footage ratio in terms of<br \/>overall square footage in Home 1 (a 10% sq. ft. increase) versus Home 2 (which only adds a bit<br \/>more than 3% to the total square footage). And second, 3-bedroom homes tend to sell much<br \/>quicker than 2-bedroom properties, whereas adding a 6th bedroom isn\u2019t nearly as desirable nor<br \/>does it provide much more utility to a home that already has 5 bedrooms.<\/p><h4>\u00a0<\/h4><h4>2. <span style=\"text-decoration: underline;\">Make it Nicer<\/span><\/h4><p>\u00a0<\/p><p>If you\u2019ve already maximized the square footage value of your home or you cannot afford<br \/>the task of adding extra space, there are plenty of other ways to increase your home\u2019s value.<br \/>The next biggest way to add value to your home is by improving your home quality. You can<br \/>upgrade your home in multiple ways, like renovating, improving finishes, increasing curb<br \/>appeal, and replacing big-ticket items. When it comes to renovating, the rule of thumb is to start<br \/>with areas that tend to provide the highest value return. These areas are generally those that<br \/>people use the most often or common areas. The kitchen and bathrooms are widely viewed as<br \/>the most important areas to improve first (and with the highest ROI), followed closely by the living<\/p><p>room and master bedroom. Renovations don\u2019t necessarily have to include every intricate detail<br \/>of each space either. The most practical renovations are those that cost the least while making<br \/>the biggest impact. Interior paint, for example, can be very cost-effective ($1-$2 per square foot)<br \/>and make an entire space appear brand new without replacing other aspects of the same<br \/>space. Replacing dingy carpets with low-cost LVP flooring instead of hardwoods is also an<br \/>effective alternative. New countertops, tiles, backsplashes, or hardware\/fixtures are other<br \/>opportunities to create value without breaking the bank.<br \/>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 A home\u2019s curb appeal can also carry huge perceived value. After all, the outside is the<br \/>first thing any prospective buyer or passerby will encounter. A fresh coat of exterior paint can<br \/>spruce up old brick or siding. New shutters frame windows and make the home look less<br \/>\u201cbland\u201d, but are relatively inexpensive to incorporate. Upgraded landscaping can be very<br \/>inexpensive and creates a fresh look to the same home. By simply cleaning out flower beds,<br \/>adding some mulch and a few new plants; or even just trimming back intrusive branches and<br \/>keeping the lawn mowed, the perceived value of your home can increase drastically.<br \/>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Lastly, by replacing big-ticket items, you can reduce the amount of hassle and expenses<br \/>a prospective buyer will have to carry. New roofing can cost thousands of dollars, but this will<br \/>likely make the transaction process much simpler than having to negotiate concessions or the<br \/>sales price. If buyers feel there are too many repairs required in the home, they may not wish to<br \/>pursue the home during a sale at all! By replacing some of the larger expenses up front (like old<br \/>roofs, AC units, or remedying foundation issues) you can effectively reduce the risk of having<br \/>your home sit on the market longer than desired, and thus realize fewer costs in the long run or<br \/>a lower sales price.<\/p><h4>\u00a0<\/h4><h4>3. <span style=\"text-decoration: underline;\">Make it Smarter<\/span><\/h4><p>\u00a0<\/p><p>While other improvements certainly have higher actual value increases, making your<br \/>home more efficient or \u201csmarter\u201d can likely cause it to stand out when on the open market<br \/>compared to other homes when all other considerations remain equal. Some implementations to<br \/>consider, once you have exhausted all other improvement options, are energy-efficient windows<br \/>and lights, solar panels, smart home applications, etc. While these improvements may not carry<br \/>the same weight as adding square footage or renovating, they can set your home apart from<br \/>others by offering lower utility costs or maintenance to prospective buyers and making them more<br \/>inclined to purchase your home over a competitor. The less amount of time your home sits on<br \/>the market the more you can reduce your carry costs as a seller and time is money!<\/p><p>\u00a0<\/p><p>To conclude, by making your home bigger, more efficient, or upgrading its quality, you<br \/>can increase its value and push your earnings potential to its highest level.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d52460 elementor-widget elementor-widget-eael-divider\" data-id=\"1d52460\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"eael-divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"eael-divider-wrap divider-direction-horizontal\">\n\t\t\t\t\t\t\t<div class=\"eael-divider horizontal solid\"><\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9e72a8 elementor-widget elementor-widget-eael-divider\" data-id=\"a9e72a8\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"eael-divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"eael-divider-wrap divider-direction-horizontal\">\n\t\t\t\t\t\t\t<div class=\"eael-divider horizontal solid\"><\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-inner-section elementor-element elementor-element-1178682 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1178682\" data-element_type=\"section\" id=\"tags\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-94aabf5\" data-id=\"94aabf5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0c9a8b2 elementor-widget elementor-widget-heading\" data-id=\"0c9a8b2\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Related Tags<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b2e10a elementor-widget elementor-widget-wp-widget-tag_cloud\" data-id=\"4b2e10a\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"wp-widget-tag_cloud.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5>Related Tags<\/h5><nav aria-label=\"Related Tags\"><div class=\"tagcloud\"><a 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data-widget_type=\"wp-widget-categories.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5>Categories<\/h5><nav aria-label=\"Categories\">\n\t\t\t<ul>\n\t\t\t\t\t<li class=\"cat-item cat-item-13\"><a href=\"https:\/\/stg.mirabilishomes.com\/blog\/category\/news\/\">News<\/a> (9)\n<\/li>\n\t\t\t<\/ul>\n\n\t\t\t<\/nav>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-497901f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"497901f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column 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As buyers clamor for a limited supply ofhomes on the market, how can you ensure that you squeeze every last drop of value out of yourhome? In this article, we will discuss various ways to add value to your home&hellip; <a class=\"more-link\" href=\"https:\/\/stg.mirabilishomes.com\/blog\/top-3-ways-to-increase-your-homes-value\/\">Continue reading <span class=\"screen-reader-text\">Top 3 Ways to Increase Your Home\u2019s Value<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[5,4],"_links":{"self":[{"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/posts\/1379"}],"collection":[{"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/comments?post=1379"}],"version-history":[{"count":10,"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/posts\/1379\/revisions"}],"predecessor-version":[{"id":1390,"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/posts\/1379\/revisions\/1390"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/media\/1380"}],"wp:attachment":[{"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/media?parent=1379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/categories?post=1379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stg.mirabilishomes.com\/blog\/wp-json\/wp\/v2\/tags?post=1379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}