Not everyone is currently living in their “forever home.” If you plan on selling or renting out your residential property one day, it’s time to consider investing in long-term projects that can help increase its value. Properties are prone to decay, and if we’re not proactive about maintenance and long-term upkeep, it will inevitably decrease in value over time. Hence, our properties are either increasing in value or losing it. Here are some projects that can help increase the value of your residential property.
Plant a tree (or two).
If you’re not planning on selling or renting out your home anytime soon, planting one or more trees can significantly add value to your residential property. Shade trees, when fully matured and properly placed, can make your home more desirable to potential buyers and tenants and cut your home’s cooling costs by upwards of 40%. These trees will also help to purify the air around your home, they’re good for the environment, and they will add curb appeal to your home.
Invest in a well-designed and well-landscaped home garden.
Not all kinds of gardens add value, but particular ones do, like those with excellent landscaping, consider the environment, and make sense for the property’s location. Experts say that a well-landscaped garden can add value to a property by as much as 5% to 12%. Especially in the time of COVID-19, when families are encouraged to stay home, a house with a front yard or backyard with excellent landscaping is an incredible asset to have.
If you have kids, consider adding landscaping that they can have fun in, like a cute box filled with sand and a mini playground. It will keep them occupied during quarantine and is a creative and safe way to get some fresh air. It will also keep them from playing video games all day.
Add a casita or a tiny house in the backyard.
Architecture and interior design trends change and adjust to society’s needs at any given time. Our modern sewer systems were created to help control diseases in the 19th and 20th centuries. In the same way, our current homes will also have to adjust to the times, like the current pandemic. A tiny house or a casita, which is a separate guest suite structure, can greatly add value to your property. It will allow for physical distance for family members who have to self-isolate. It can also double as a home office, which can provide privacy and seclusion for family members who have to focus on work. Tiny houses are also incredibly energy-efficient as they only use up a fraction of the energy that we normally use in regular-sized houses.
Make room for a home office, home gym, and homework station.
If you have extra rooms in your residential property, convert them into an office, a homework station, and a home gym. There’s no hard and fast rule about furnished or unfurnished rentals; potential buyers and tenants will choose according to their needs at the time, but having multiple rooms for different needs will be a huge incentive for them to consider your property. Trend forecasters say that the work-from-home setup will continue to advance even when the pandemic ends, so a home office will surely be a value-adding improvement in your home.
An energy-efficient home will always be more attractive than a traditional one. Here are some upgrades you can make aside from planting more trees and good landscaping:
- Incorporate more big windows and a skylight to let natural light in.
- Add more insulation to your attic.
- Install solar panels may not be the cheapest upgrade, but they pose many benefits such as long-term savings on energy bills, less usage of fossil fuel, and they can also help qualify your home for annual tax incentives.
- Invest in a storm door. It will help add an extra layer of protection for your home against extreme weather conditions, and it has a glass or a protective coating that can help decrease energy loss by up to 50%. The best part is that most storm doors can last between 25 and 50 years and cost even as little as $75.
As the world continues to advance, we will also see more climate change effects and more pandemics. A way to add value to your residential property is by foreseeing what kinds of problems its future owners and tenants will have to deal with and incorporate those needs into the home before those needs arise. These projects may cost more and take a lot of effort, but they are worthy investments in the long run.