Increasing the value of your house sounds expensive, right? You’re picturing sledgehammers, new framing, ripping out cabinets, and installing new floors. But you don’t need to make massive changes to your house in order to enhance its value. Sometimes isolated and simple projects give you the most bang for your buck.
Here are a few good options to try:
1. Paint the Front Door
Your front door is one of the very first things a person sees when they pull up to your house. If it’s boring and worn down, you’re missing a chance to win them over. A fresh coat of paint can help. Bright pops of color are really in right now, but you also can’t go wrong with a clean coat of white or black paint.
2. Replace Your Garage Door
Speaking of curb appeal, your cheap, dingy garage door isn’t doing you any favors. It may even be detracting from the aesthetics of an otherwise nice exterior.
Thankfully, home improvement experts say replacing your garage door is one of the single most valuable things you can do (in terms of ROI). The return is somewhere between 90 and 100 percent. Many people even get back more than they put into it!
3. Spruce Up Your Outdoor Living
Buyers see outdoor living as more than just a nice added bonus. Many put it on their list of must-have features. And if you have a killer outdoor living space, it has the potential to drive some serious interest in your property. Here are a few cost-efficient ideas:
· Install an outdoor fireplace. You can add a lot of practical and aesthetic value to your home by installing an outdoor fireplace on or near a patio. Not only can it be used throughout a majority of the year, but it looks great!
· Screen-in your patio. If you have an existing patio, you can add some serious value to it by taking the time to add a roof and screen it in. Buyers love screened porches and you’ll almost certainly recoup the value at sale.
· Fix up your deck. Let’s say you already have an existing deck, but it needs a little love. Try replacing rotted and warped boards, pressure washing the surface, and re-staining it. Combine that with some new outdoor lights and a grilling station and you’ve got an HGTV-worthy space that’s bound to grab people’s attention.
4. Integrate Smart Technology
Millennials might have been slower than past generations to invest in homes, but they’re beginning to make up a large portion of the marketplace. And do you know what they love? Technology.
Integrating smart home technology into your home is a simple way to add value. This includes thermostats, security systems, lighting, and appliances.
5. Add Crown Molding
Let’s talk molding. No – not that kind of molding. Crown molding!
Crown molding is nothing more than a thin piece of wood with unique profile added to the revealed portion. It’s fixed in place where the drywall meets the ceiling and adds a sense of class and charm to this otherwise dull junction.
The best part about crown molding is that it’s relatively inexpensive and can be installed by anyone who is somewhat handy.
6. Replace Kitchen Backsplash
You don’t have to go crazy and totally renovate your kitchen. If you only have a few hundred dollars to spend, you might consider replacing an outdated backsplash with a newer, sleeker option. Again, this is something a handy homeowner can easily do on their own.
7. Go Tankless
Tankless water heaters have taken the industry by the storm over the last few years. They’re highly efficient, provide endless hot water for homeowners, and free up space in the home. If you haven’t already gone tankless, now’s a great time to do so. It’ll even increase the value of your home.
Make Your Investment Work for You
Whether you have a budget of $500 or $15,000, simple upgrades, additions, and changes can go a long way towards increasing the value of your property and making it more attractive to potential buyers. Be smart about which ones you invest in and don’t miss the chance to maximize the value of this powerful financial asset.