If you’re looking to increase your home’s value but are on a limited budget, you’re in luck. You don’t have to completely renovate a kitchen or tear down a bathroom to see an increase in your home’s value. With a few simple (and affordable) steps, you can make your home look how you want it and make it worth more.
Here are five great ways to increase your home’s value without breaking the bank. It comes down to creating a seamless and clean atmosphere, giving buyers a move-in ready home that will instantly mesh with their belongings.
1. Spruce up your Curb Appeal
A little landscaping can go a long way when improving your home’s value. Start by cleaning up the lawn and figuring out which shrubs should stay and which should go. Next, plant your favorite water-conserving plants throughout the yard, including a few with color to add a little excitement to the area. Choose hearty plants that don’t require a lot of upkeep but that make the home look well-loved.
While you’re at it, clean your siding, and touch up the paint on any woodwork throughout the home’s exterior. The front and sides of your home are the first impressions most people have of your property. Make it as pretty as you can and you’ll naturally increase the home’s value.
2. Paint the home’s interior
If you’re thinking about selling your home soon, consider painting the home neutral colors. While you may have a thing for bright blue or green walls, that’s a matter of personal preference. Neutral, yet trendy colors are what will catch the eyes of potential buyers and encourage them to bid more for the home. Rooms in crazy colors that would need painting immediately both turn buyers off and cause them to offer less for the home.
Painting a home costs an average of $2,000 – $3,000 but can help you move your home through the sales process a lot faster. The less work buyers have to do, the happier they are.
3. Update light fixtures and cabinet hardware
If your home feels a little outdated, the pricing will get outdated too. Invest money in the lighting and hardware and give the home an entirely new vibe. You may think that lighting or hardware wouldn’t get noticed by buyers, but it does and fast. The little details add to the home’s overall theme. Modern faucets, lighting, and hardware are easier for homebuyers to adapt their own décor too. Outdated features mean buyers have to spend more money making the home look how they want and they’ll likely bid less for the home to make up the difference.
4. Update the flooring
If the home’s flooring has seen better days, consider updating it. Vinyl flooring is inexpensive and mimics the look of more expensive counterparts. While you won’t get the same value for the home as you would if you installed true hardwood flooring, it will increase the home’s value slightly, especially if the old flooring wasn’t in good condition.
The same is true of carpeting. If the carpeting is torn, the edges stick up, or it’s stained, consider replacing it with durable, yet affordable new carpeting. You’ll see a return on your investment in the home’s value for this change.
5. Make basic repairs
Believe it or not, the small details matter. Squeaky floors, leaking faucets and ripped screens all take away from a home’s value. If you didn’t keep up with the home’s maintenance annually, take care of it now before you put it on the market. Buyers will bid less for a home that doesn’t look kept up.
Hire a handyman to go through the house and take care of all the important details. You’ll earn your investment in the handyman back when you sell the home in good condition rather than the buyer asking for credits for all the little issues.
Final Thoughts – Home Renovations to Increase Home Appreciation
In today’s market, homes are appreciating by leaps and bounds. Buyers will spend more on the homes, especially when they have to do less work. The more you can spruce up your home, the more money you’ll get for it.
Fortunately, this doesn’t mean you have to spend thousands of dollars to renovate your home. It’s in the small details that your home will appreciate if you take care of what matters. Of course, the home should be in overall good condition when you try to sell it to get the most money for it, but focusing on key areas like the front yard, living areas, kitchen and bathroom will give you the best bang for your buck.