Twelve Ways to Boost Your Home's Resale Value on a Budget
Home renovation has become an important part of the reselling process. Large renovations naturally bring large returns to your resale value, but room extensions or patio additions often aren’t possible on a tight budget. Luckily, small improvements can add up in boosting resale value. You can complete many of these yourself or hire a contractor for the more technical fixes without breaking the bank. It’s recommended to test old houses for asbestos before most renovations, DIY or not. Whether you’re ready to spend $50 or $50,000, it’s important to research what upgrades deliver the most bang for your buck in your location. Remodeling.com offers an excellent online tool to find the average cost, resale value and cost recouped of various home improvements in your region. Zillow reports that homeowners experience the highest returns on kitchen and bathroom renovations, and Forbes recommends focusing on curb appeal and open interiors. Here are six DIY home renovations and six more best done by the professionals.
Do It Yourself
- Paint the walls. As much as you might love the living room accent wall, data shows that buyers prefer neutral colors. Repainting walls can instantly rejuvenate your rooms, often totaling under $100 for all the supplies.
- Remove popcorn ceilings. This feature can be an instant turn-off for potential buyers, so taking the time to remove it can add value to your home. All you need is a solution to soften the texture and a scraping tool. Make sure to cover all the furniture in the room before you begin.
- Rearrange furniture to maximize space. The last thing a buyer wants to see in their future home is clutter, so find a designated space for it to stay out of sight. To give the illusion of a bigger room, place a mirror against the wall, and swap out heavy, dark drapes for sheers or shutters.
- Wallpaper a powder room. This overlooked room can easily become a statement of your home’s character. Choose a neutral patterned wallpaper and get to work transforming it.
- Plant a tree. Although you might not be around to see its growth, planting a sapling is a great small investment. They improve not only your curb appeal but that of the houses around you, too. Make sure to select something native to your location that will resist drought because it could save future buyers up to 50% on heating and cooling costs.
- Replace appliances with more chic, energy-efficient designs. Although a full kitchen appliance replacement could be costly, consider starting with something smaller, like upgrading your microwave. Replace outdated lighting fixtures with attractive, energy-saving alternatives.
Leave It to the Pros
- Hire an inspector. You may have no idea that your roof or siding needs replaced. An inspector can give you an idea of the long-term renovations that could be part of negotiating with potential buyers. Then, you can decide what’s worth tackling now and what to save for the future.
- Replace old carpets with tile or laminate. Not only do worn carpets lower visual appeal, they can also be hiding some nasty allergens and contaminants that can lower your home’s air quality. Paying for air testing can help you determine if you should remove your carpets and install low-cost, stylish flooring, such as tile or laminate, in their place.
- Get a deep cleaning. Even if you regularly clean your house, it’s easy to overlook the dust collecting in hard-to-reach areas. Hire a professional cleaning service to scrub down your entire house before showing it to potential buyers.
- Tear down walls for an open floorplan. Although this can be pricy, the price of tearing down a non-load bearing wall is often under $1,000, sometimes costing as little as $300. Most buyers prefer an open floorplan, so removing a wall or two can substantially increase your resale value.
- Call a handyperson for repairs. Don’t neglect the mental list of what needs fixed any longer. For leaky faucets and minor breaks, save yourself the stress and hire a handyperson to get your home back to its best.
- Let a landscaper take care of your lawn. If you’re looking for major outdoor planting or significant weeding, hire a lawn service to do it all for you. That way, you can’t keep putting it off, and the investment to curb appeal will add to your resale value.