5 Ways to Increase the Value of Your Home Without Decreasing Your Bank Account
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Now more than ever, people are embracing the "do it yourself" culture. From Etsy to Pinterest, there is no shortage of DIY projects that one can tackle, especially in fixing up your home. In 2017, roughly a quarter of the U.S. population made home improvements and only 7% worked with a professional, according to Nielsen.
With summer rolling around, you might find yourself with some extra time on your hands, which makes it the perfect time to finally install the new kitchen backsplash you’ve wanted. Working on smaller projects around the house that don’t require much outside help is great a cost-effective way to increase the value of your home and build equity — especially if you’re looking to sell your place in the near future. Here are five simple, but effective, ways you can raise the value of your home without going into debt.
Add Curb Appeal
Let’s be honest — first impressions are important and that includes the outside of your house too! Curb appeal, or how appealing the house looks based on its exterior appearance, is an easy first step in improving the value of your home. There are several ways you can beautify the outside. For instance, consider adding flowers or potted plants near the entryway. Any landscaping, including trimming the lawn or shrubs, adds to the polished appearance of your home. If you’re looking to make a bolder change, try painting your front door or the outside of your mailbox. Even simply replacing your house numbers with shiny, new ones can boost curb appeal.
Paint The Walls
A new coat of paint can go a long way in refreshing the look and feel of a room. You can save money and enjoy the process by turning this DIY project into a fun afternoon activity with friends! By locally sourcing your painting crew, you’ll be able to save a lot of money on the labor costs, making this renovation very affordable. Just remember to pay them in snacks or wine instead.
Also, try to pick neutral paint shades that are easy to match. If you end up picking a color that is drastically different than your current colors you could have to spend more on paint to cover up the old colors. Pro tip: If you can’t make up your mind on the paint color, check out Zillow’s Paint Colors Analysis to see which colors are most likely to raise your sale price at the national level.
Find Your Light
Lighting can easily affect your mood as well as productivity. Installing new light fixtures can also brighten the room and make a huge difference. LED lights, in particular, are a great option to save on electricity costs and are environmentally friendly at the same time. Although the initial sticker price of these bulbs are a little higher, they last up to five times longer than other bulbs. In fact, the total cost of getting 1,000 hours of lighting with LED technology is actually 83% cheaper than incandescent lighting.
Enhance The Kitchen Without Major Renovations
The kitchen is one of the most important rooms – often referred to as the heart of the home. This space often feels like the most daunting because kitchen appliances and products can add up quickly. However, you don’t need to make fancy renovations to improve your kitchen. Instead, opt for smaller projects like replacing cabinet handles and polishing the outside of cupboards. Bonus: if you have paint left over from another repainting project, repurpose it for your kitchen cabinets. According to Zillow, tuxedo kitchens, or kitchens where the upper and lower cabinets are painted in two different colors, are popular with homebuyers and can increase the sale price. Lastly, there are ways you can find affordable kitchen appliances. Try searching Craigslist or Marketplace for deals on used appliances. You might be surprised to find a nice fridge that’s within your budget.
Upgrade Bathroom Hardware
Don’t overlook this small space on your DIY list! In addition to cleaning the entire bathroom (especially between the tiles), you can swap out hardware such as drawer pulls, doorknobs and towel bars to give it a more modern feel. Think of hardware as the jewelry or accessories for the room. Another quick upgrade is replacing the toilet seat cover for an added level of cleanliness. Paying attention to these finer details helps improve the overall aesthetics of your bathroom.
Break out your Pinterest board, it’s now time to get to work! Regardless of whether you’re trying to sell your house or you just moved in, anyone can incorporate these easy, debt-free ways to make your home more valuable in the eyes of future buyers and realtors.
This post was originally published in (Last Modified: ) by MINT.com