Our homes are often one of the biggest investments we will make in our lives. For many people, whether they know it or not, the value of their home will have a big influence on their retirement plans, and the money they make from its sale can be the difference between retiring early, or having to continue working in their later years.
With the right investments and improvements in your home, you can maximize your home’s resale value and increase your retirement fund without spending a lot of money. The improvements you make to a house can give you a double figure return on the investment you make in your renovations, giving you a more profitable result than a typical savings account.
Here are the top three ways you can improve your yard or garden to increase your property’s value so you can get a better sale price when you sell your home, and maybe retire a little earlier.
Recover Your Drive and Footways
The drive and footways of your home are often the first thing people see, and passers-by will notice your home if it has a well paved and decorative drive. Likewise, if your drive or footway is cracked and well-worn, your home will stand out from the crowd for the wrong reasons.
Re-paving or re-covering your drive is a great way to make your home more appealing and increase its value. A simple ‘black-top’ finish can be all you need, or you can pave your drive with bricks or stone to give it a unique and stylish look.
Give Your Garden a Theme
Gardens are a great asset to a home, and are probably the most desirable feature a home can have for prospective buyers. Having a garden with an appropriate theme can be a great way to increase your garden’s desirability, and your home’s value. A Hawaiian theme is very popular at the moment, and can be achieved very inexpensively with some hard-wearing plants like ferns and palms, and some bamboo-style sidings. The key is to make it look like an additional entertaining space.
Add an Outdoor Living Space
Bringing the inside outside has become a fashionable way to add value to a home and make your outside spaces more usable day-to-day. Many people are installing a kitchen in the garden as a way to use their outside spaces more often. Realtors today are confident that the outdoor kitchen costs are far outweighed by the resale value of a home with an outdoor family kitchen, making them an excellent investment.
Our homes are not just a place to live and enjoy; they are also one of life’s biggest financial investments. We owe it to our futures to invest wisely in our homes so we can maximize their resale value for our retirement.
Hopefully these three ideas have given you some inspiration and information to make some worthy home improvements.