In today’s unpredictable real estate market, many homeowners are wondering how they can improve their property’s value without time-consuming or costly renovations. With a few smart and timely updates, you can add real value to your home and property.
Looking to sell your home? We’ve got fun information for you. These home improvements will make the selling process quick and easy, all while seriously boosting your home’s value. Check them out below.
The 15 Best Improvements to Increase Home Value
If you’re thinking about doing some home improvement projects this year, here’s the scoop on which will give you the biggest bang for your buck.
Listed below are easy tips for improving the value of your home without breaking the bank.
1. Create More Open Space
People love space, so create some. Knocking down a few walls can create a more desirable open concept plan.
2. Install Hardwood Floors
Don’t ignore your floors. Hardwoods never go out of style, and many do not realize how straightforward it is to DIY hardwood flooring.
3. Talk With a Professional
Have any realtor or interior designer friends? Invite them over or hire someone for an hour or so to check out your home. For a relatively low consultation fee, a realtor or interior designer will be able to offer valuable suggestions for ways to spruce up your home to increase its property value.
Even seemingly small suggestions for home improvements can end up boasting significant increases in your home’s value.
4. Clean, Clean, Clean
There are few things that drive away potential buyers like a dirty home filled with clutter, strange smells, and the like. While cleaning might not seem as fun as other renovations, giving your home a deep clean can do wonders when it comes to boosting your home’s overall property value and can garner you higher offers.
Ultimately, buyers will have a difficult time imagining themselves living in your space if it isn’t clean, so be sure to do a deep clean, clear clutter and open windows to let the natural light in before an open house.
5. Give Your Home a Fresh Coat of Paint
Your home better look as good, if not better, than the day you bought it if you’re hoping to get a flood of serious offers.
Painting is one of the simplest and most cost-effective improvements you can make for your home. There’s nothing quite like a fresh coat of paint to breathe life back into a dreary room. Be sure to select quality paint for the best results, look for a brand that is around $30-40 per gallon.
You’ll want to review your interior walls for any scuffs on the wall paint, and clean or cover them as needed. Is your door all scratched up from years of abuse? Slap a fresh coat of paint on those too.
Throw a painting party. Neutral paint colors are best for walls since neutral colors appeal to the majority of prospective buyers. Neutral color schemes like light browns, whites, and off-whites are some of the highest selling interiors around. When you have a neutral color scheme, it matches pretty much all styles, so it can help people envision their own stuff in the space.
6. Spruce up the Lawn
Don’t underestimate the importance of curb appeal — after all, the outside of your home is what prospective buyers will see first. If your lawn could use a little love, spend an afternoon or two taking care of overgrown grass, bushes and shrubs. If it fits your budget, try adding low-maintenance plants too (think succulents, ferns and anything else that is drought resistant and hard to kill).
7. Remodel the Outside
Do you have a small home? Luckily, even small homes can expand their living spaces through a defined outdoor space.
Don’t worry about spending a ton of money on expensive outdoor features. Avoid adding high cost extras like a pool or an extremely lush landscape since many people don’t want to spend the time and money maintaining them.
In fact, it may be more popular to do creative landscaping to create a low-water usage yard. Show your landscaping some love. You could try replacing some sections of grass with pea gravel.
Make the most of outdoor spaces. You can consider adding a deck or other defined outdoor sitting area. Even buying a fire pit and arranging some chairs around it can add a high-class look to your outdoor space. Adding a freestanding grill is another good option.
According to Consumer Reports, paying attention to your curb appeal could add a potential 3-5% increase to your final sale price.
8. Replace or Paint Exterior Siding
Take a glance at your home’s exterior – what’s your honest opinion of it? Replacing the siding or adding a new exterior coat of paint are both high-return projects. Remodeling Magazine reports that siding replacement recoups 92.8 percent of its cost.
9. Remodel the Kitchen
Don’t swap out those appliances just yet! Although “kitchen remodel” is on this list, it’s not always going to be the best bang for your buck to replace all of your appliances or otherwise undertake a hugely expensive kitchen remodel.
If you’re trying to do renovations strictly for resale value, Remodeling Magazine says that minor kitchen remodels of $15,000 or less are the way to go – they recoup 92.9% of their cost.
Replace mismatched kitchen appliances: Unless your appliances are extremely old (if they’re 10-20 years old you should definitely replace them), it’s more important to the buyer that the appliances in the kitchen match than that they are high end. Do you have mainly white appliances, but a black sheep dishwasher? Instead of spending tens of thousands replacing all of your appliances, you’ll see a bigger return on investment by replacing that one mismatched appliance with something that fits in.
You may not even have to replace the entire appliance! Many appliances, dishwashers in particular, have standalone faceplates that you can just swap. Look up your model and see if this is an option for your appliances. There is also special “appliance paint” that you can buy from companies like Rustoleum, so you may be able to match your appliance this way.
Worst case scenario, replacing one or two appliances is certainly cheaper than replacing the whole suite!
Remodel the kitchen cabinets: Another low-cost home improvement you can do is give a facelift to your cabinets. Be creative with your kitchen cabinets.
Apply a new coat of paint: Instead of opting for a costly remodel, you can give your kitchen a fresh look by applying a new coat of paint and switching out the hardware.
Replace flooring and kitchen countertops: Replacing the floor and countertops with luxury options are also a good return on investment renovation projects. Upgrade mismatched tile to stone or wood, or ugly particle board to a luxury stone like quartz.
According to Consumer Reports, a minor kitchen renovation can bump your final sale price up by 3-7%.
10. Remodel the Bathroom
Does your home only have one bathroom? Before you spend any money remodeling the only one you have, consider adding a second. According to HGTV, the return of adding a second bathroom (where there was previously none) is 8.7 percent, which is twice as much as adding another bedroom!
If you’re already working with 2 or more bathrooms, then you’re a perfect contender for some simple swaps. Build a more beautiful bathroom with smart and affordable updates.
Most buyers will judge a bathroom on its looks. Adding higher grade floors, or counters will go far in giving your bathroom a “luxury” feel. Upgrading to wood cabinets would be another bathroom win.
If you’re set on doing something to your plumbing, look no further than your shower. Walk-in showers are the new whirlpool tubs! Young buyers don’t have free time to take a bath, and older buyers prefer curbless walker-friendly showers whenever possible. No matter which age range is moving to your area, a walk-in shower is a safe bet for every seller.
11. Perform Energy Audits
Making small efforts to reduce your energy costs can help boost your home’s overall value.
Many utility companies provide free energy audits to their customers, so check in with yours and see if the option is available. If so, you will be able to see how you can maximize your home’s energy efficiency.
From there, you can begin applying these energy-saving practices, which will ultimately make your home more valuable and marketable.
You’ll also want to review your other energy hogging systems like furnaces or water heaters. These, combined with your air conditioner, can be 30% of your total electric bill, even up to 50% in the hot Florida summers!
Nothing makes for a quick closing like assuring the buyer that everything has been recently updated.
Even better, according to Consumer Reports doing these repairs can add another 3-5% to your final sale price!
12. Upgrade to Energy Efficient Windows
Upgrade to energy efficient windows.
If you live in Florida, you may want to be sure that your energy efficient windows are also hurricane proof – or at least impact resistant.
13. Install a Programmable Thermostat
Installing programmable thermostats, especially fancy smart ones like the Honeywell Wifi thermostat will give your house a high-class feel.
Potential homeowners will be able to take their energy expenses into their own hands by adjusting the temperature inside of their homes with their phone or computer at work.
14. Replace Your HVAC System
If your HVAC system is almost ten years old, replacing it can give potential buyers one more reason to buy.
Many homebuyers use most of their savings for the down payment, so you put yourself in a strong negotiating position by taking care of these major system issues preemptively.
Is your home still using window units? You’ll want to install central air. Just because you’ve been able to live without it doesn’t mean that your next buyer wants to. If you’re motivated to sell, and you want to sell high, then you’ll want to consider nipping this closing hangup in the bud.
15. Perform Home Maintenance
Not everything is decorative, so don’t overlook the obvious. Your home’s internal systems are just as important as its exterior appearance. If your basic home systems aren’t working properly then nobody cares how great your kitchen looks.
If you’re looking to sell your home, having your air conditioning system inspected and tuned is a great way to entice potential buyers one of the easiest and most effective ways to increase the value of your home.
Schedule AC Maintenance With Colman Heating & Air
When you schedule a maintenance appointment with one of our trained professionals, your entire AC will be inspected and any necessary repairs will be made, ensuring your system is functioning perfectly.
Give us a call today to learn more ways you can up your home’s comfort, or schedule your appointment online.