Cheap Updates to Increase Your Home’s Value
Are you looking to sell your house? You may want to do as much as you can to maximize its home value ahead of a potential sale.
Assuming there aren’t major repairs needed to the house, there’s really no need to spend a bunch of money on staging when there are plenty of things that you can do yourself.
Upgrades vs Repairs
First of all, there’s a difference between upgrades and repairs. If you have maintained your house properly over the years, then there shouldn’t be any major repairs required – only minor upkeep.
While a real estate agent can help advise you on any potential major repairs or upgrades needed, in most cases, many items can be done on your own without the help of an agent.
A home inspection will be ordered by any serious buyer who has made an offer. An inspector will catch any major problems such as water damage or any major HVAC systems.
These are critical and costly items so it’s important to make sure that your water heaters, smoke alarm and HVAC systems is up to code.
Do it Yourself
Remember, it’s all about the ROI – return on investment. In other words, you want to spend as little money as possible in order to maximize the amount of money that you will get from your investment (in both time and money).
In other words, will tearing down walls, spending thousands of dollars on new appliances and significant upgrades to your property really be worth it? For example, if you spend $5,000 on new appliances, are you expecting an increase in your home’s value of $5,000, or maybe $10,000?
Or perhaps you simply spent time cleaning, prepping and perhaps painting a few walls, but perhaps these minor investments in money lead to a buyer placing an immediate offer on your house.
Again, very little money spent. But a house that’s been professionally cleaned and well maintained could make all the difference.
Exterior of the House
First impressions matter – a lot. The first impression of your home is called it’s curb appeal. How does the yard look? Is the grass cut and weed free? Are the hedges trimmed? A little landscaping goes a long way and you can hire landscapers for a very affordable price.
How about the exterior of the house? Consider power washing the outside and perhaps repainting the door
How about the roof? There better not be any leaks because a home inspector will be sure to find them. Have you recently cleaned the gutters and removed any and all debris?
Doors…all of them! The front door, the garage door, interior doors. How work out are they? If the answer is “very worn out” then consider replacing them. If not, then maybe a fresh coat of paint can bring them back to life.
Again, you want potential buyers to be wowed before they even set foot in your house.
A kitchen makes a house a home! I still remember the warm smells that used to emanate out of my Grandmother’s kitchen. It is the smell of her house, more than anything, that I remember about her house.
Again, before you go spending thousands of dollars remodeling the kitchen, make sure the basics are covered first – Are there any leaks in the faucets?
Are the cabinets clean? How about the floor? Any dents or dings or (gasp) mold? Is the backsplash intact? How about the walls? Could they use a fresh coat of paint? Take time to inspect and repair these minor issues.
This is another important area to focus on. Maybe you need to re-grout the bathtub because it’s moldy or dingy looking. Are the floors in need of major scrubbing?
Again, look at the floors and the faucets. Are they worn or could they use a deep clean? Put some elbow in it or hire a professional cleaner to remove that hard-to-remove grime.
Do any light bulbs need replacing? Don’t go tearing down walls and spending lavishly on new items. Again, focus on making your existing items look as good as possible for the bet return on investment.
A little sweat equity can increase the value of your home in the eyes of a potential buyer considerably. After all, you would expect a new car to clean from top to bottom, right? Well a house is an even bigger investment so you want to ensure that it’s being presented in its best light.
By spending just a little bit of time, you can reap the rewards of potentially selling your house more quickly. Be sure to consult with one of our professional partner realtors if you need help listing your home.