Did you know not every home improvement you make will increase your home’s value? Most people think that if they demolish what’s there and start fresh, they’ll significantly increase their home’s value, but that’s not always the case.
In most areas, the simpler the renovations, the higher the ROI. So here’s where you should focus your efforts if you’re trying to improve your home’s value while not going over budget with the cost of repairs.
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Repaint your Home
It sounds so simple, but a fresh coat of paint can do your home worlds of good. You’ll get the best return if you can afford to repaint the entire house. If not, focus on the rooms buyers care about the most – the bathroom and kitchen, with the family room or living room coming in a close second.
Remember, when you paint your home, don’t overlook the trim and ceilings too. Giving everything a fresh coat will make your home feel warm and cozy, especially if you stick with the neutral colors everyone loves.
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Update your Curb Appeal
You only get one chance to make a first impression. When buyers pull up to your home, they’ll immediately make assumptions about what they’ll see inside based on the home’s exterior.
You don’t have to have a green thumb or create an oasis to positively affect people looking at your home. Instead, make it look neat, well-manicured, and attractive. Add some color with a few pretty pieces of landscaping, but most importantly, ensure the lines are clean, and the home looks well cared for.
Don’t forget about the backyard, too, though. This is especially important if you can see your backyard from the street.
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Minor Bathroom Updates
Believe it or not, the bathroom is an integral part of the house when it comes to selling it. Even minor updates like upgrading the builder’s mirrors, installing a new toilet, or a new showerhead can drastically impact your home’s value.
If there’s room in your budget, update the lighting and consider a new vanity. Each of these projects can easily be DIY, too, to help you save more money.
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Kitchen Cabinet Updates
The kitchen is the home’s gathering place, and buyers want it to look as modern as possible. If updating the cabinets isn’t in your budget, consider refacing them. Just make sure the structure of the cabinets is in good shape. Then you can repaint or stain the cabinets, making them look brand new.
Check out the current trends for kitchen cabinet colors and try to mimic them as closely as possible to get the best bang for your buck.
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Refinish Hardwood Floors
The floors set the stage for your home; if your hardwood floors are rundown, it could make your home worth less than you hoped.
If it’s not in your budget to replace the floors, consider refinishing them. You can also use this opportunity to change the colors to keep up with the latest trends and bring in the most buyers. Freshly refaced cabinets and refinished floors can make all the difference in how much you get for your home.
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Add More Storage
Make the most of any living space in your home. The more functional each room is, the more your home will be worth to buyers.
For any room in the home that feels underused or doesn’t have a specific purpose consider adding built-in storage or repurposing it for other uses. For example, you can add built-in lockers to the mud room or make a larger pantry in the kitchen.
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Replace the Front Door
Going back to your home’s curb appeal, the front door is another area that offers a great return on your investment. You’ll get the best ROI if you can afford to replace it. But a new coat of paint can make a big difference if you can’t.
Consider giving the front door a fun color (that’s not too obnoxious), but that gets passerby’s attention. Also, consider fixing any rotted trim or cracks in the frame.
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Update the Basement
You don’t have to completely finish your basement for it to help your home’s value. Instead, make the basement usable with functional storage and a comfortable area to spend time and entertain, and you’ll improve your home’s value.
Consider installing brighter lighting, spraying the ceiling and walls to clean them up, and adding areas for a TV and sitting area. You don’t have to add drywall and a bathroom to make the basement livable and more functional.
Final Thoughts
Focus on areas of your home that need the most help when thinking about getting the best return on your investment. Your home’s curb appeal should be the first priority; from there, find areas you can improve without breaking the bank.
Think simple versus complicated and focus on today’s trends. With the right changes, you can improve your home’s value and keep money in your pocket. Whether you choose one or multiple changes, they are bound to increase your home’s value.
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