Increase Your Home Value on Any Budget
Home Improvements: $100 or Less
Tip 1: Spend an hour with a pro.
Invite a Realtor or interior designer over to check out your home. Many Realtors will do this as a courtesy, but you will probably have to pay a consultation fee to a designer. Check with several designers in your area — a standard hourly fee is normally less than $100.
In an hour, a professional can give you lots of ideas for needed improvements. Even small suggestions, such as paint colors or furniture placement, can go a long way toward improving the look and feel of your home.
Tip 2: Find inspiration.
Want an even cheaper alternative to a professional consultation? Search for remodeling and decorating inspiration in design-oriented magazines, books, TV shows and Web sites. Simply tear out or print off the ideas you want to try and start your to-do list. Keep it simple: when remodeling on a tight budget, do-it-yourself type projects are best.
Tip 3: Inspect it!
Not every home improvement is cosmetic. Hidden problems like deteriorating roofs, termite infestation or outdated electrical systems can negatively impact your home’s value. Hire an inspector to check out the areas of your home that you don’t normally see. Small problems, like a hidden water leak, can become expensive headaches if you put off repairs. A little investment now can save you loads of cash later.
Tip 4: Paint, paint, paint.
One of the simplest, most cost-effective improvements of all is a fresh coat of paint. Newly painted rooms look clean and updated — and that spells value. Neutral paint colors appeal to the greatest number of people, therefore making your home more desirable. On average, a gallon of paint costs around $25, leaving you plenty of money to buy rollers, tape, drop cloths and brushes. So, buy a few gallons and get busy!
Tip 5: Cut energy costs.
If you think your utility bill is a fixed amount, call your local utility company to find out. Many energy providers offer free energy audits of their customers’ homes. They can show you how to maximize the energy efficiency of your home. A power- and water-saving home will conserve your money now, and is more valuable in the long run. Plus, you can use the money you save for more updates!
Home Improvements: $100-$200
Tip 2: Low-maintenance landscaping saves you money now, adds value when you sell.
Shrubs and colorful plants will add curb appeal to your home, but make sure you “think green” while you’re shopping at the local garden center. Purchase plants that are native to your region, or water-conserving drought-tolerant vegetation. These require less water and maintenance, which means you’ll save time and have a little more green in your yard and your wallet.
Tip 3: Add a money-saving luxury.
Here’s another way to tap into extra savings: install a water filtration system in your kitchen. Not only do these systems purify your water, you’ll also save the money you were spending on bottled water. A water filtration system is an inexpensive addition, but it’s the sort of small luxury that home buyers love.
Tip 4: Improve the air quality inside your home.
Air quality isn’t just about outdoor conditions –older carpets can hide contaminates and allergens. Hire a professional company to test your indoor air quality to determine if your rugs need to be replaced. When choosing new flooring, update your home with environmentally-friendly natural products like tile or laminate floors. Hard surface floors are easier to keep clean, and are usually more appealing to buyers.
Tip 5: Save the popcorn for the movies.
Few structural elements date a house more than popcorn ceilings. So dedicate a weekend to ditching the dated look and adding dollar signs to the value of your home. First, visit your local hardware store for a solution to soften the texture. Then, simply scrape the popcorn away. It’ll bring your house into the new millennium with minimal cost and effort.
Home Improvements: $200 to $400
You only get one shot at a first impression, so make the interior of your home shine from the entrance to the exit. For less than $400, you can hire a cleaning service for a thorough top-to-bottom scrubbing. Even if you clean your home regularly, you likely miss or overlook some nooks and crannies. Let a cleaning service do the dirty work to really make your home sparkle.
Tip 3: Visually increase your home’s square footage.
The size of your home dramatically affects its value, but square footage isn’t the only thing that counts. Make sure your home feels as large as possible by visually increasing the space in every room.
Sunny rooms feel larger and more open, so replace heavy drapes with blinds or shutters that let light in. Also, adding a large mirror in each room can visually double the space in a room. Finally, clear the clutter. For less than $400, add an attractive shelving unit to an underused space and store your clutter out of sight.
Tip 5: Small bathroom updates equal a big return.
Bathroom updates are always a smart move. Even if you can’t afford a full remodel, small changes can update the room without bruising your bottom line. For a quick, inexpensive face lift, replace dated wallpaper or light fixtures with updated paint and lighting.
Home Improvements: $400 to $750
Tip 2: Any kitchen update equals added value.
The same rule applies in the kitchen. You don’t have to start the room’s design from scratch to maximize your home’s value. Start by swapping out just one item, such as a stained sink or ancient microwave for shiny new stainless models. Even small kitchen updates will add big value to your home.
Home Improvements: $750 to $1,000
Eighty-six the old school appliances for sleek new energy-efficient ones. An appliance with an energy star label has been certified by the government to use 10 to 50 percent less energy and water than conventional appliances. Matching stainless appliances will not only look great now but will make your home shine brighter than the competition if it’s on the market.
Tip 3: Go for the green.
Everyone loves a yard with thick, green grass. With less than $1,000 and a weekend’s time, you can replace your existing patchy mix of weeds and grass with fresh new sod. You’ll be amazed at the difference this one change will make in your home’s curb appeal and value.
Home Improvements: $1,000 to $1,500
Tip 2: Update your home’s entrance.
Your front door and entrance are among the first thing people see when they enter your home, so they should complement your home’s overall design. If your existing door isn’t up to par, pick up a more energy-efficient and attractive replacement. Whether you choose a solid wood door or a decorative entry with stained glass panels, a welcoming front door is sure to increase your home’s bottom line.
Tip 3: Consult a design pro.
If you’re unsure of which design style or paint color to use, hire a designer. They’ll bring discriminating taste and a trained eye to help with making the big decisions. Even if you don’t have the funds to do a full remodel now, they’ll help you put together a cohesive plan to ensure a pulled-together finished look. When you get the right mix of time and money, you’ll know exactly which project to tackle next.
Home Improvements: $1,500 to $2,000
Hire an electrician to add recessed lights to a dim kitchen or family room or elegant sconces to a formal dining or living room. You’ll enjoy the lighting now, and your home will feel more welcoming to home buyers later.
Tip 3: Add the right landscaping and watch your home’s value grow.
Landscaping makes a huge difference in the curb appeal of your home. For less than $2,000, hire a landscape designer to create a plan that will make your home’s exterior really shine. For maximum impact, plant mature trees or fast growing varieties. Though these can be pricy, they will instantly make your home feel more established.
Home Improvements: $2,000 to $3,000
Tip 2: Protect your investment.
A home is the largest investment most people make, so treat it that way! Hire a financial planner to analyze all of the financing options that are available. A financial whiz can tell you if you should refinance to lower your monthly payments or pull out some equity to pay for value-adding improvements.
Tip 3: Bring the outdoors in.
Consider turning two standard windows into an opening for beautiful French or sliding glass doors. Full-view glass doors really brighten up the space and a light and airy room is always more attractive. Also, with a view of the outdoors, the room will feel much larger. Another bonus: modern doors are energy-efficient, cutting down on heating and cooling costs. That means more cash in your pocket now and a financial bonus should you decide to sell.
Home Improvements: $3,000 to $5,000
Home Improvements: $5,000 and Up
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