You don’t need to get a new kitchen or remodel the bathroom to increase your home value. There are simple and inexpensive ways to give your property a facelift, and you can even do many of them yourself.
If it’s a rental property and you’re away, your collection agent can take care of the refurbishments, and you can pay them over time from the rent. What’s more, a property management company can help you decide on the best home improvement projects to boost your property value.
A little goes a long way, so here are some ideas on how to improve the appeal and price of your property.
Freshen Up the Wall Paint
One of the easiest ways to increase your property value is to roll up your sleeves and touch up the interior with a fresh coat of paint. If the walls have smudges, the color is outdated, or they simply haven’t been painted in a while, they might put off any potential buyers or tenants instantly.
Since walls are a blank canvas against which people envision their future furnishings, it’s best to go for a neutral color.
Pro tip: A study has found that houses with black, smokey, or charcoal front doors sell for $6,271 more than others on average. Repainting the door is inexpensive and simple, and it can have a massive impact on the overall appeal.
Upgrade Your Bathroom
The most effective home improvement projects that can skyrocket the price are bathroom and kitchen remodels. However, you don’t have to remodel the entire bathroom to boost your property value. Making a few changes in decor can do magic.
You can update your fixtures for cheap and get a major glow-up. For starters, if there are any leaky faucets or anything that doesn’t work properly, replace it. Add more storage space if possible. Then, you can also improve on the overall aesthetics by getting a new vanity, changing its countertop, or painting it over.
You’d be impressed at the difference a $15 dollar shower curtain can do.
Boost Your Curb Appeal
There’s one rule real estate agents agree on — if you can do only one thing to improve your home’s marketability, work on your curb appeal. It’s the first thing buyers see, and first impressions can color the entire experience.
Depending on your budget, you don’t even have to do much. Prune any shrubbery, mow your lawn, paint your mailbox, add some decor to your front door, and make sure the windows are squeaky clean.
You may also add a stone veneer and change the garage door or even plant more greenery to make the house look homier. Most of these changes are extremely cost-effective with a great ROI.
One of the most effective and inexpensive updates that is often overlooked is changing the fixtures around the house. For example, outlet covers and switch plates often won’t even cross your mind, but you can change them for a few dollars apiece and make them look much more expensive.
You can also replace your light fixtures and achieve a major effect on the overall appeal. Tacky old chandeliers can be a complete eyesore, and you can switch them for elegant, energy-efficient, and easy-to-install ceiling lights, which will brighten up the space.
You may also add new blinds, change old doorknobs, get better-looking curtain rods.
Restore the Floors
Installing new flooring can be expensive and time-consuming, but you can refresh your floors in other ways. If your house is old and carpeted, chances are you have a hardwood floor beneath them. Hardwood is much more attractive than old and shaggy carpets, so you might as well reveal it.
You can restore the glow to your hardwood floors by sanding and refinishing them. It’s a bit of work, but it’s much cheaper than paying for the new wood and labor.
Hardwood is the best flooring option for adding resale value. It can have an ROI of 70 to 80%.
The biggest turn-off for potential buyers is bad odors. You may have noticed that every house that is lived in has a distinctive smell. Unfortunately, different people find different smells unpleasant, so it’s best to deep clean your house before you show it to any potential buyers.
People also hate to see signs of neglect in bathrooms and kitchens, so give these areas some extra love while cleaning. You may want to hire professional services because they know exactly what to look out for and how to take care of it.
Deep cleaning helps with another home buyer turn-off, i.e., clutter. Make sure everything is tidy and there are no bad smells.
Improve Energy Efficiency
Energy efficiency has become a major concern for home buyers, and a drafty home simply won’t do. You can improve the overall energy efficiency of the house by sealing any cracks around doors and windows or adding some insulation to your attic.
Ceiling fans are another green addition to a home that buyers will appreciate. You may also help conserve water by installing low-flow fixtures in the bathroom and save energy by installing LEDs.
Various studies have found that energy efficiency can both make your property more desirable and increase its value on the market.
Paint the Kitchen Cabinets
You can spruce up your kitchen by simply repainting your cabinets. You don’t have to install new ones if the old ones are functional, but you can easily make them look fresh and new by painting them over. You can always go for white paint since it will make the kitchen look spacious, clean, and pleasant to be in.
Depending on the state they’re in, you may want to scuff them with sandpaper first and add a finish to make them look as good as new.
As you can see, increasing your home value doesn’t have to be expensive and difficult. There are a ton of small improvements with a huge ROI you can practically DIY.