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Owning a home is expensive. In addition to the purchase price, most homeowners spend more than $100,000 in interest costs over the life of their mortgage. While the exact amount varies based on the loan, the interest rate, and the loan’s life span, interest costs are significant household expenses.
There are also multiple hidden costs to consider, such as homeowner’s insurance, homeowners association (HOA) fees, and property taxes. Your property’s value could affect your ability to qualify for the value of your home loans. It also affects how much you can list your house for if you plan to sell.
Fortunately, there are some practical, affordable ways to increase the value of your home, including those explored here.
Tips To Increase The Value Of Your Home
Add Houseplants To Your Home
Houseplants can transform your home and your health. It increases the value of your home too. Poor air quality can cause headaches, sore throats, and other health issues. Houseplants draw in carbon dioxide and convert carbon dioxide to oxygen, increasing the amount of fresh air inside your home. The fresh air helps you sleep better at night, making houseplants an effective tool against insomnia and other sleep disorders.
Houseplants also filter out toxins, such as benzene and formaldehyde. Pests can spread allergens throughout your home, but indoor plants extract allergens from the air. Add affordable plants to your homes, such as an umbrella tree or an English Ivy plant. The best way to use plants to remove toxins is by adding plants such as Peace Lilies, Boston Ferns, Spider Plants, Umbrella Trees, Dwarf Umbrella Trees, and Snake Plants to your indoor spaces. In addition to protecting your health, these plants also remove odors, ensuring your house smells good.
Invest In Routine System Maintenance
Your household systems increase the value of your home by ensuring your home’s safe and comfortable. Suppose your heating, ventilation, and air conditioning (HVAC) system breaks down during a heatwave. You may have to pay high repair costs for emergency repairs and move your family to a hotel until your air conditioner’s fixed.
Use proven tips for improving HVAC efficiency to prevent HVAC emergencies. Investing in regular maintenance is an effective way to maintain your system and extend its lifespan. Consequently, you’ll spend less money replacing your HVAC system because it will last longer. Have certified HVAC technicians inspect your HVAC unit in the fall and spring. A fall HVAC inspection ensures your furnace works correctly, while a spring HVAC inspection ensures your air conditioner operates. HVAC technicians can replace dirty air filters, clean air ducts, and clean your system. Removing dirt and blockages from your ducts and condenser coils prevents your HVAC unit from spreading toxins and allergens throughout your home. Your system may also have to work harder to pump warm air or cool air throughout your home if the ducts are blocked. When your system works harder, your energy bills will increase. Removing obstructions helps you maintain low energy costs, saving you money in the long run.
Improve Your Home’s Curb Appeal
Your home’s curb appeal refers to its external visual appeal. Will people driving by notice how nice your home looks, or will they think it’s an eyesore? Curb appeal is also crucial when selling your home because you won’t get an offer if you don’t entice potential buyers to come inside.
Increase curb appeal by trimming hedges and tree branches, ensuring they don’t scrape against your roof or siding. You can boost your home’s visual appeal by painting your front door and adding lights to make the entrance inviting. Add pops of color with flower beds featuring plants ideal for the growing season in your region. Clean your home’s exterior and remove mold and mildew. You can also improve your curb appeal by adding a walkway to your front door, repainting your siding, and replacing any damaged features, such as broken window panes or damaged garage doors. You may be able to perform a lot of these tasks yourself, or you can hire a landscaping team to care for your lawn maintenance.
Whether you want to increase the value of your home to secure a home equity loan or increase the list price when you sell, there are many affordable ways to improve your home. Your options include adding houseplants, maintaining your HVAC system, and improving your home’s curb appeal.