Whether you’re considering selling your home in the near future in hopes of building a new one or you’re simply searching for ideas to make the house look better, there is a wide variety of things you can do to increase the property value of your home. Choosing which improvements to make can be one of the biggest hurdles for homeowners, but we’ve uncovered the eight best-kept secrets for increasing the value of your home to help you along the way.
- Paint: Paint is one of the most cost-effective ways to upgrade your home. You’ll likely spend less than $50 on paint and painting supplies, although this will depend on the size of the room, resulting in an affordable way to change the look and feel of any space. According to Benjamin Moore, rooms painted with neutral colors tend to sell best, so keep that in mind when redecorating the interior of your home. If the exterior needs painting, opt for a touch-up instead of an entire repaint and save a few of those hard-earned dollars.
- Trees: If you’re not planning on selling your home right away, consider planting a few trees to increase your home’s value in the future. Choose trees that grow quickly and place them where they will provide shade in order to help with energy costs during the summer months. The cost of trees can vary significantly, so consult with a local nursery to determine which species will make the best investment for your home.
- Curb appeal: Let’s face it: First impressions can make or break a sale. Spend a few extra bucks on landscaping and improving your home’s exterior in order to draw in prospective buyers. For the highest return, opt for low-maintenance landscaping, like planting flowers and removing dead shrubs.
- Bathrooms and kitchens: Updating bathroom and kitchen decor is one of the most lucrative ways to increase your home’s value. If your budget allows, replace older appliances with upgraded pieces and replace or reface cabinet doors and countertops. If you are on a tighter budget, replacing faucets, updating light fixtures, and removing wallpaper or popcorn ceilings can still make a big difference.
- Give the impression of added square footage: Much of your home’s value is dependent upon its square footage, so making your space look as big as possible is key. Hang lightweight or sheer window coverings, open window blinds, turn on lights, open doors, and even add a large mirror or two to visually increase space. Keep in mind that cluttered spaces appear smaller, so it is a good idea to clear out your junk before prospects begin looking at your home.
- Replace worn or outdated flooring: Nothing turns a buyer away faster than the discovery that they will have to replace flooring in the near future. Not only does torn or stained flooring not sell well, it can make your home appear unkempt. If your budget is small, consider going one room at a time, beginning with the flooring that shows the most wear and tear.
- Repairs and maintenance: Keep up with repairs and maintenance as much as possible. Although you might be able to live with a broken step, a cracked window, or leaky plumbing, prospective buyers will rarely spend more for a home they have to fix.
- Invent a room: If you are lucky enough to have accessible attic space, a bonus room or a den, make it into a nursery, an office, or even a crafting room. Check with your realtor in order to find out what people in the area tend to be looking for.
What projects have you tackled to increase the value of your home?