Thinking of selling your home but want to raise its value first? Hoping to increase your home’s value in preparation of selling in a few years?
Whether you have a large or small budget for home renovations, there are a few tried and true ways to use home improvements to increase your home’s value. Here are some tips to follow in order to add the most value possible with small but deliberate enhancements.
1. Focus on the Kitchen and Bathroom
When it comes to home improvement, swapping out features in the kitchen and bathroom has great power to increase overall home value. According to a Forbes article, the kitchen and master bathroom are most important when it comes to selling a home. People tend to look to the kitchen and bathroom first to judge a home’s value, especially since these are both rooms where a lot of time is spent.
The good news is, though, you don’t need to completely redo either the kitchen or bathroom to make some flashy, attractive changes. Swapping out old features like the kitchen sink and appliances for new ones, revamping the backsplash or shower with new tile, and updating flooring are all relatively inexpensive changes you can make to renovate your kitchen and/or bathroom to please prospective home buyers. You can even switch outdated lighting fixtures for statement pieces to make your kitchen or bathroom look like new.
And, of course, there’s always paint…
2. Revitalize with Paint
Repainting the walls in any room is still a relatively cheap way to completely change the look of a home from drab to fab. Paint has the power to smooth the look of any room and create a completely new vibe. Painting is also a project that you can opt to hire someone for or go DIY to save on funds.
When choosing a paint color, keep your buyers in mind. Also keep expert tips in mind when choosing certain paint colors, since colors like blue in the kitchen and taupe in the living room can boost the value and attractiveness of your home.
3. Upgrade to Hardwood Flooring
Along with paint, flooring also has a dramatic effect on the value of a home. Not only do updated floors look nicer, but choosing to install hardwood or engineered hardwood floors can also improve the air quality in your home. Old carpets and rugs can trap air pollutants and emit volatile organic compounds (VOCs), while hardwood floors are easier to keep clean and do not trap the same toxicity as carpets.
With hardwood and engineered hardwood flooring, you also have a variety of types and color schemes to choose from. Companies usually offer plenty of hardwood varieties to go with your home’s decor and overall feel. Replacing your floors will inevitably make your home feel like new and impress potential buyers looking for renovated and updated spaces.
4. Cut Energy Costs
Another way to improve the value of your home is to make it more energy-efficient. Home buyers are attracted to homes with lower gas, electric, and water bills, so make sure all your basics like your water heater and furnace are updated. Meanwhile, you can swap your manual thermostat for a digital one like the Nest, which will learn your family’s temperature preferences and turn to Eco mode when you leave the house. Some updates like this are very easy to make and cost a small amount of money but will make a big difference to potential home buyers and save you money on energy bills in the meantime.
5. Add Updated Landscaping
There’s still something to be said for great curb appeal. However, whether in the front or backyard, adding new landscaping elements to your home’s outdoor space can greatly increase its value. Plant a tree, add a flower bed, create a space for a garden, or design a new stone fireplace, outdoor fireplace, or fire pit. You can hire a professional or take on a DIY project. Small changes can really impress potential buyers as they walk the space around your home and entice them to purchase at a higher price.
6. Introduce Accessibility
As Baby Boomers, part of the largest generation, continue to age, home buyers are looking for elements that allow their space to remain accessible to aging residents. Walk-in showers, accessible bathtubs, master bedrooms on the main floor, and comfort-height toilets are all attractive features for buyers hoping to stay in a space a long time or even house their aging relatives.
Accessibility in a home is also attractive for differently-abled buyers or buyers with young children. Replacing a toilet or updating a shower might only be a small change for you but can add great value to your home, depending on the buyer.
7. Update Repairs and Maintenance
Finally, though it might seem elementary, ensuring your repairs are up-to-date and that you’ve completed routine maintenance will make your home much easier to sell. Home buyers keep these items on a list and check it twice, and although repairs might not increase the value of your home dramatically, you don’t want a buyer choosing not to go through with a contract because of repairs you could have made prior to listing.