There are many things you can do to add value to your house – but that doesn’t mean you should do any or all of them. Some value-adding projects just won’t yield a good return on the investment. And the cost is certainly a major concern for most homeowners. So can you add value without sinking a ton of money in major remodels? Yes, you can. Check out these 5 ways to add value to your house without breaking the bank.
1. Have a Plan
If you don’t want to break the bank, then you need to have a plan to add value to your house. A haphazard approach will usually cost more and with poorer results.
“Upgrades that are made intentionally and not on an impulse will end up looking better and costing less. Start slowly. Make a list of rooms that need attention, and then prioritize what projects are nice-to-haves versus must-haves. When you have a categorized list, choose one project to start with and only start on your next project when the first one is finished. This will prevent you from ending up with several half-finished renovations and feeling overwhelmed.
“When you start with a strategy, not only will things get done, but they will get done well and ultimately add value to your home.”
2. Update the Kitchen
Ask any agent, and you’ll get the same answer: the kitchen is the most important room in a home for potential buyers. Updating the kitchen, then, is a great way to add value to your house, and it doesn’t have to cost a lot.
Updating kitchen appliances will certainly add value, but even small upgrades and improvements can make a significant difference. Here are just some of the updates you can make that won’t break the bank:
- Painting old, tired-looking cabinets
- Installing new cabinet hardware
- Addinga rolling island
- Updating light fixtures and switch plates
- Replacing sink fixtures
3. Spruce Up the Bathroom
As with the kitchen, your bathroom can be updated and spruced up in ways that add value to your house without breaking the bank. For example . . .
“Start by freshening up paintwork and updating towel- and toilet-roll holders (you can’t go wrong with chrome). Then go for a deep clean, including scrubbing grout and removing limescale from the basin, shower, and [toilet]. Shop around for a coordinating bin and toilet brush holder . . . and declutter toiletries and cleaning products. If you can, store them out of sight. Think about replacing the toilet seat too: a new one could cost little . . . , yet it can instantly make the bathroom look smarter. The same is true for the shower curtain, taps, and showerhead.”
4. Enhance Curb Appeal
One of the best ways to add value to your house and create a great first impression for potential buyers is by enhancing curb appeal. “First impressions are important and can set the stage for a successful sale. If your home appears welcoming and structurally sound from the outside, its value will reflect that.”
A good way to determine what kind of and how much curb-appeal work you need to do is to go across the street and try to take a buyer’s-eye view of your house. Is there anything that detracts from the appearance such as peeling paint, overgrown shrubs or beds, fencing in disrepair, or a cracked sidewalk? If so, these are the things you need to work on.
5. Improve Lighting and Energy Efficiency
A bright, cheery home interior is always more appealing to buyers. So if you want to inexpensively add perceived value to your house, it can be as simple as improving the lighting. Take down those blinds, and replace heavy drapes with sheers. Also, add lamps to rooms that seem dark and drab.
And while you’re at, improving energy efficiency will also add value. “An energy-efficient home is more valuable both to you right now, and to a potential buyer down the road. By making changes to cut your energy costs, you will be putting money back into your own pocket that you can then use to make other upgrades.” So when you’re improving the lighting, be sure to install energy-efficient lighting and LED bulbs.
Talk to Your Agent
What we’ve included here are indeed some good ways to add value to your home without breaking the bank. But this is far from an exhaustive list – there are many more things you can (and perhaps should) do. Much of what you can/should do to add value depends on the local market, so be sure to talk to your agent. Your agent will know what value-adding improvements will be most effective and worth the cost. If you’re considering selling and want to add value to your house, contact us today at 866-593-7012.