A recent poll identified not being able to sell one’s
current home as a homeowner’s greatest fear. In an age where, according to
HGTV, every home should be a stylized showroom, fearing that your home won’t
live up to the competition is all too real.
Here are 10 great ways to cheaply increase your home’s
value.
1.
Organize,
Clean And De-Clutter.
Hire a professional cleaning
service to clean your entire home. De-clutter your rooms to make them look more
spacious – a big selling point for buyers.
And either sell your stuff, give it
away or put it in storage.
Cost: $400
Value: $2,000
ROI: 400%
2.
Light
Up The House
Spending as little as $100-$400 on
new lighting fixtures can bring your home’s best features to light.
Cost: $100 to $400
Value: $1,600 when $400 is spent
ROI: 300%
If you invest $1,500 in lighting,
you can turn an average profit of $7,800. Giving your home’s value a boost of
over $9,000.
Invest for the future – choose
Internet of Things devices that can be controlled with a smartphone.
3.
Maintenance
and Inspection
Bring in a local designer to give
you tips and suggestions for small changes that can help increase value.
Get an inspection to make sure
there are no plumbing leaks, electrical problems, issues with the septic system
or furnace, leaky windows, heating or insulation issues.
Cost: $800 for repairs
Value: $3,000
ROI: 275%
4.
Landscaping
In The First Impression
Increase your curb appeal by cleaning up your
yard and plantings. If the outside of your home looks unkempt, it gives the
impression to potential buyers that the rest of the house is just as
unkempt. Also, overgrown gardens can
block sunlight and the views, as well as allowing mold to grow.
Cost: $400 to $600
Value: $1,500 to $2,000
ROI: 200 to 275%
5.
Update
The Flooring
Shampoo or replace carpets. Add hardwood
floors or repair existing ones.
Cost: $600 to $900
Value: Up to $2,000
ROI: 110 to 233%
6.
Fresh
Paint
Paint the walls and the baseboards
and trim with a neutral color. Doing it yourself will save money, but hiring a
painter will get it done faster and professionally.
Cost: $900 to $1,000
Value: $2,000
ROI: 100 to 120%
If you invest $2,000 on fresh paint
for the whole house, it can result in a $3,000 profit, adding about $5,000 to
the home’s value.
7.
Upgrade
Your Roof
Repairing or replacing your roof
can cost up to $12,000. But simply adding a cupola adds elegance and curb
appeal for less money.
Cost: $500 to $1,500
Value: $500 to $2,500
ROI: 66 to 233%
8.
Paint
The Exterior
Anything that helps add to your
curb appeal is a worthy investment. Power washing and painting the exterior of
your home is a great way to add value.
Cost: $1,400
Value: $2,100
ROI: 50%
9.
Kitchen
and Bathroom Remodel
If your cabinets are in good shape, an easy
way to spruce up your kitchen or bathroom is simply painting the cabinetry.
An updated kitchen and/or bathroom with fresh
paint, new countertops, stainless steel fixtures, new hardware and lighting can
add an extra $2,000 to $3,000 to the value of your home.
Cost: $1,900
Value: $3,200
ROI: 68%
A $500 investment in making some small
changes can increase value, too.
-
Remove rust stains
-
Apply new caulk
-
Update knobs & pulls
-
Replace faucets
-
Install an eco-friendly toilet
Adding a half bath to your home
adds up to 10% to your home’s value, while a full bath adds about 20%.
10.
High
Quality Photos of Your Home
After you put in all this work on
your home, don’t forget to use high resolution images when you post photos
online.
90% of buyers start their new home
search on the internet. Make sure you post plenty of really good quality photos
to draw the interest of potential buyers.
These tips will help you put your home’s best foot forward –
without costing an arm and a leg!
Elite Homes builds beautiful garden home communities perfect for baby boomers 55+ - featuring, single-family, low-maintenance homes, in a relaxing and convenient locations around Louisville.
