Living in a home that you feel needs “a little love”? Upgrading or renovating a house is a decision that requires careful consideration. It’s a balancing act between your budget, how much of the costs you can recoup when the time to sell comes, and how all this aligns with your needs.
Contrary to common assumptions, you don’t need to ransack your savings or go into debt to spruce up your home. A few simple, low-cost upgrades can add real value to your home. And even if you’re not planning to put up your house for sale just yet, you get to enjoy having a more attractive and stylish place to live.
Here are some of the best home improvements projects to boost your home’s value for cheap:
1. Paint Panache to Freshen Up Your Walls
If your walls look dingy or outdated, all it takes is a DIY attitude, a few cans of paint, and some elbow grease to enliven the space. A fresh coat of paint can make a dramatic difference. Freshly painted rooms or exteriors look updated and clean, which spells value.
So, touch up on flaking paint, fading wallpapers, and scratched surfaces. And while you’re at it, pressure wash the exterior to get rid of any mold or grime.
To maximize the marketability and value of your home in anticipation of a sale, most interior décor and home valuation experts recommended choosing a subtle, neutral color palette. Neutrals appeal to the widest variety of potential homebuyers. They tend to flow with everything, allowing buyers to easily picture their belongings in the space.
2. The Power of Good Landscaping – Think Green
Nickle-and-dime your way to increased home value by leveraging the immaculate beauty of nature. Flourishing greenery, a lush lawn, and blossoming flowers not only boost curb appeal but they’re good for the environment. And if you’re not planning to sell your home in the near future, strategically planting shade trees can dramatically slash your cooling costs.
If you’re looking to make a small investment in colorful plants and shrubs, consider buying native and hardy varieties that require minimal maintenance. But remember to occasionally tame your jungle by trimming outsized bushes or overgrown lawns.
Landscaping is really a win-win situation. It’s inexpensive, adds home value, makes the space homier, and may even help you cut down on energy costs.
3. Upgrade the Entryways
Bolster the exterior appearance of your home by upgrading entry doors—whether that’s spiffing up the rundown garage door or hanging a new steel front door. Potential homeowners will appreciate the increased security, low maintenance, and energy efficiency that steel doors afford.
From a financial standpoint, statistics show that homeowners can recoup around 95% of garage door upgrades at resale.
4. Swap Out Dated Fixtures
You’d be surprised at the impact of seemingly innocuous and overlooked fixtures such as doorknobs, switch plates, faucets, lighting fixtures, or curtain rods on home value. Upgrading them is an inexpensive undertaking that goes a long way in tying a space together, which significantly impacts the decision-making of potential buyers.
Give your beaten-down fixtures a facelift with new and updated designs that complement the home design. For example, try oil-rubbed bronze fixtures if you’re after a classic look. Similarly, matte stainless steel or bronze nickel goes well with contemporary home designs.
5. Upgrade Your Kitchen and Bathroom on a Budget
We all have a favorite room, but there’s no denying that the kitchen and bathroom rank at the top—and for a good reason.
The kitchen is often nicknamed ‘the heart of a home’. It’s the hub of a home, the fuel that keeps everything running. On the other hand, the bathroom is likened to a sanctuary. A place where we go to freshen up and wash away everyday stresses, leaving us ready to take on another day.
Both you and potential buyers will appreciate kitchen and bathroom upgrades—which explains why they consistently have the highest ROIs (Return on Investment) as per Remodeling Magazine. It makes sense that these two rooms are most deserving of home improvements. But the key is to avoid total overhauls. Keep the costs low with minor upgrades.
Don’t go for luxurious and breathtaking; settle for improved functionality. For example, skip heated bathroom floors for updated ceramic tile floors. Similarly, rather than replace your rundown kitchen cabinets, resurface them to add value without breaking the bank.
Related: 7 Bathroom Design Trends to Add Splash to Your Space
6. Energy Efficient Upgrades – ‘Green Up’ Your Home
Energy efficiency is often one of the main things on the negotiation table when selling a home. An increasing number of buyers find the idea of reduced utility bills appealing—and who wouldn’t. According to a survey by the National Association of Home Builders (NAHB), “home buyers are willing to pay an additional $8,728 upfront on a home in order to save $1,000 a year in utility bills.”
Some upgrades that make your home more efficient include proper insulation, an HVAC replacement, energy-efficient windows (e.g., triple-pane insulating glass), and Energy Star-rated appliances. Installing these upgrades allows you to save a couple of dollars in reduced energy bills while helping conserve the environment. And when you sell the house, you can recoup up to 95% of the installation costs incurred.
7. Renovate the Flooring – From the Ground Up
Typical daily activities can do a number on floors—especially if you have pets or kids. Luckily, you can deck out your floor with little fuss.
One of the first things you want to do is confirm whether you have hardwood flooring. The material has been used for flooring from time immemorial, thanks to its ability to last longer with minimal damage. And best of all, you can restore it to its original splendor by simply refinishing the surface.
The Bottom Line
Upgrading your home doesn’t have to rip a hole in your wallet. There are a variety of inexpensive projects that can improve your home’s value. Find some time to explore some of the home improvements ideas discussed above to help get the most value for your home when it’s time to put it on the market.
