Regardless of whether or not you’re planning on selling your home in the near future, it pays to make a few updates in order to add value to it. But don’t start dumping hoards of money on major home renovations – instead, simple changes can be easily and quickly made that barely make a dent in your bank account. Identify what buyers in your area are looking for, then make plans to carefully – and affordably – add them to your home.
A quick and sure-fire way to boost the overall value of your property is to focus on prettying up your yard. Aside from manicuring the property itself – grass-cutting, weed-picking, tree-pruning, and so forth – consider planting some flowers, bushes or hedges to create a gorgeous and inviting yard.
And the earlier you landscape, the better. That’s because allowing trees, bushes and other types of greenery to really grow and flourish takes time. In a few years, the mature tress in your property will be a big selling point in a future listing.
Aside from the landscaping in the front yard, a lovely front door will also help enhance the curb appeal of a home. And the more visually appealing the house is from the outside, the higher the perceived value will be.
If your front door is tired-looking, it might be time to either reface it, or replace it. The entire look of the exterior of your home depends quite a bit on the look of your front door (this goes for the garage door(s) too).
The kitchen can be a huge selling point in a home if it’s properly done and well-maintained. If your kitchen is a bit outdated and could use a little TLC, a minor renovation may be in order. The key here is to keep the job “minor” in nature – spending too much on a remodel in this space might not get you the ROI you’re hoping for.
Go for smaller-scale updates, such as a new backsplash or countertops, refaced cabinet doors, new hardware, new appliances, and a faucet replacement. This can have your kitchen looking as good as new at a fraction of the cost of a full renovation. This way, you can expect anywhere between a 75% to 100% ROI at the point of sale.
You’d be amazed at how far a can of paint can go in terms of freshening up an interior and upping the value of a home. A new coat of paint can realistically give you the best bang for your buck, considering the difference between the cost of the paint and the value it adds to a home.
Just make sure that you use a neutral color so that it appeases to the masses, rather than an eclectic shade that only a handful of buyers will appreciate. And go with a low-VOC paint – this will keep the home eco-friendly, and your family members safe from harmful off-gases.
Don’t underestimate the value of the floor that you’re standing on when it comes to the value of your home. The majority of real estate experts agree that spending some cash on floors can make a huge difference in the look of an interior, and the ultimate value of the property. In many cases all that may be needed is just a few nails to get rid of annoying squeaks, patching up damaged floor boards, and replacing a couple of chipped tiles.
In cases where new flooring is needed, be sure to go for materials that are good quality and visually appealing, but not over-the-top-expensive. Go for engineered wood planks, or modern wall-to-wall carpet. New flooring can completely transform the look of a space, and reap a decent ROI too.
Lighting can greatly enhance the appeal of an interior. But don’t just cover your home in one type of lighting. The key is to layer the type of fixtures and equip them with dimmers.
For example, in the kitchen, include a chandelier over the table, pot lights scattered across the ceiling, pendant lamps over the island (if you’ve got one), and under cabinet lighting over the countertops. In the living room, add pot lights, wall sconces, and table and floor lamps to add light and depth.
The addition of dimmers will allow you to set the right mood for the moment – if you’re having family game night, turn them up; on the other hand, turn the dimmers down when you’re relaxing by the fire. And remember – high wattage bulbs make small spaces feel more spacious, while soft lighting adds warmth to scarcely-furnished rooms.
Got any peeling vinyl countertops, or chipped floor tiles? How about a leaky bathroom sink faucet, or scuff marks on the walls? These are basic, minor issues that can be easily and quickly repaired at little cost to you. Such maintenance can really go a long way to make your overall home look much better, and therefore add a few extra dollar signs to its value.
And before issues like these get out of hand, make sure to nip them in the bud before they become bigger problems with bigger price tags to repair. Even a couple of hundred dollars worth of basic repairs can boost the value of a home by a few thousand bucks.
There’s no need to make a hole in your wallet to make major changes to your home that will in turn add value to the property. Identify which updates will pay off, and you can easily rake in more money come sale time after carrying out a few carefully thought-out projects.