As a homeowner, you want to get the most value out of your home, whether in terms of equity, you can borrow against or profit you can make at the closing table. But how can you do that?

Fortunately, there are several ways to boost your property’s value without breaking the bank. Here are some of them:

Clean Up

If you want to take advantage of this seller’s market and improve the value of property Decaturville, TN, one of the most inexpensive ways is to declutter. This simple fix will make your home look cleaner and bigger, which is more appealing to potential buyers. To avoid becoming overwhelmed by the task, start with a room-by-room approach and create piles of belongings you would like to keep, items you may consider selling, and things ripe for donation. Another great way to add value is by turning an unused space into a guest suite, office, or gym. 

Update the Kitchen

A well-designed and updated kitchen is one of the best ways to boost property value. A kitchen that is dated or inefficient can put off buyers and may even deter them from making an offer.

Adding new cabinets, appliances, and countertops can make a dramatic difference in your home’s appeal. Repainting your kitchen and installing a backsplash are also budget-friendly improvements that can make a big impact on the look of your kitchen.

Many homebuyers are looking for greener properties, so upgrading your kitchen to energy-efficient appliances and features can boost value and help the environment. Energy-efficient upgrades will also save you money on your electricity bills.

Add a Deck or Patio

Adding an outdoor space like a deck or patio is one of the best ways to increase the value of your property. It’s an easy and affordable way to transform your backyard into a comfortable living area that will appeal to potential buyers.

The difference between a deck and a patio is that a deck can be more customizable since it’s built over the ground, so if you add a hot tub or an outdoor kitchen, this will increase your property’s value. Patios, on the other hand, are much more limited in their design options and may not raise your home’s value as high.

Both structures are easy to maintain and add great value to your property. However, keep in mind that any additions or improvements will likely increase your taxes, so it’s important to check with your city about this beforehand.

Add a Granny Flat

Building an additional dwelling on your property — a granny flat or backyard cottage — is an easy way to add value. These self-contained living areas are a great option for families who need more space but don’t want to move or incur a higher property tax. Granny flats can also be rented out for short-term rentals, such as Airbnb, to generate extra income.

For elderly family members, a granny flat can provide independence and security without taking them out of their homes. They can still have friends visit and follow their daily routines, all while staying close to you and your loved ones. In addition, renting out a granny flat will allow you to deduct construction costs from your taxes.

Add a Pool

A pool can look gorgeous in a backyard and make your property stand out in the market, especially if most homes in your neighborhood don’t have one. It can also attract a wider range of potential buyers.

But as with all other home upgrades and renovations, the value that a pool adds to your property will vary by location and buyer preference. It’s important to remember the costs of owning and maintaining a pool, which may reduce the financial benefit for you when it comes time to sell.

Adding an accessory dwelling unit, like a granny flat, is another way to increase the value of your property. It’s a great family option and can be used as a rental unit.