We’ve all had those moments where we wish we could change some things about the place we’re living. The great thing about being a homeowner is that you can make those changes! And the best part is, updating and renovating your home will add resale value to your property.
If you ever need to sell your perfect, beautiful home for one reason or another, it would be nice to make some money on it. Even relatively inexpensive improvements can increase your home’s value.
95% of homeowners say they plan to take on a major home improvement project in the next 5 years.
Adding value to your home will benefit you in the long run. For example, a finished basement can add over $30,000 to your asking price.
When you’re looking to sell your home, there are certain factors that go in to how much you can sell it for.
Potential buys are always looking for a great deal in a great place.
The location of your home matters a lot. Is it a safe neighborhood? Are there good schools around? Is it a quiet area? Is it near a commercial area for food, gas, entertainment, and convenience?
The way your home looks from the outside also matters. Look out for the paint chips, old broken wood, or discolored spots. Clean up the weeds and lawn to tidy up the landscaping. If your house doesn’t look good when people are driving by and see a “for sale” sign, they’re going to keep driving and say “no wonder it’s still for sale, that house looks haunted”.
Storage space also matters. Most people aren’t minimalists and spend our years accumulating stuff. Having a place to put it all will matter a lot when people are looking to buy a new home.
The average cost of a renovation or a home improvement project is around $4,000. However, you can always do smaller projects that don’t cost a lot of time or effort.
When you’re starting on home improvement, you’ll need to fix the small things first. These are the things that no one might notice at first glance but will actually affect how potential buyers view your home.
You’ll want to fix the broken mechanics and appliances. Buying a new sink or dishwasher can cost over $1,000, but you’ll get great use out of it and it will improve the overall look of your kitchen.
Removing old wallpaper and paint is essential for adding value and is a relatively small task. You’ll need to get a wallpaper steamer to make the job easier (trust me, I spent a full day last week steaming off wallpaper in our kitchen), and a paint scraper to get all the old chips. This task requires time, patience, and strong shoulders, but if you have a good playlist or audiobook, you’ll make it through in no time.
You can also take care of the overgrown weeds and plants in your yard. Couple this by trimming the bushes and cutting down old limbs on the trees to get a tidier look.
You should also repair your plumbing. If you’ve got rusted or stopped up pipes, slapping on a new sink or shower head won’t fix your underlying problem.
Based on a survey and self-reporting, the most popular home improvement projects in 2022 were painting interiors, remodeling bathrooms, and adding new flooring.
However, the top 5 projects from 2022 that added the greatest dollar value on average were updating the HVAC system, replacing the garage door, replacing the siding with a stone veneer, entry door replacement, and vinyl siding replacement.
If you’re ready to explore more ideas on how to improve your home to increase resale value, read on for 10 project ideas!
Painting may be one of the most inexpensive projects you can take on. A gallon of paint can cost between $25 and $50 and can be done by yourself.
You’d be surprised how many little scuff marks your walls will accumulate over the years.
When painting inside, make sure you’ve got the surfaces and molding covered with painter’s tape so you don’t have to worry about drips. You’ll also want to make sure you have good ventilation in your space. Nothing feels worse than a paint fume-induced headache when you’re trying to sleep at night.
You can even freshen up the exterior paint job. Power wash your exterior to get the weather off your home and then add new paint to give your siding a fresh look. This adds to your curb appeal and can take away some of the age of your home.
However, if you do decide to paint your exterior, we recommend calling a professional. Pros will have access to wholesale paint prices and be more adept at navigating the landscape and climbing on tall ladders. Remember, safety is what matters.
Your new exterior paint job will go a long way in increasing your curb appeal.
Some other ideas when tackling your outdoor space include cleaning up and clearing out weeds and unwanted plants. It’s time to get rid of the bushes you’ve always hated and trim up your walkway.
Replace your old crusty mailbox and replace your broken fence. Keep your lawn tidy and plant some flowers.
We know that it’s what’s on the inside that matters, but in this case, the outside perhaps matters more. You’re never going to entice people to stop their day to look into your home if your exterior needs work.
A full major kitchen renovation can cost up to $80,000, but it can also be done for a lot less. And according to the 2022 Remodeling Impact Report, you can get a return on investment of about 75%.
Even minor updates, like adding a backsplash, can add visual appeal.
You can update your appliances and sinks. Put in new countertops to add storage and workable space. Repaint or remove the cabinets and molding to get a new color scheme and draw the room together.
When your home is about to go on the market, you can add a lot of initial appeal by having a clean and put-together look.
Buying or refinishing furniture can add to the mood of a room. You can even offer to sell some of the furniture with the home.
Cleaning up clutter allows you to showcase the efficient storage spaces your home offers. Potential buyers will be able to see the square footage they can use. They’ll be able to see the potential in your home to become their new home.
Adding a new room, bathroom, garage, or basement space can be a huge undertaking, but it’ll give you a great return on investment.
Physical expansions increase the square footage of your home, which automatically increases your home’s value.
With a larger space, you can also show off more possibilities inside your home. You can create a dedicated laundry area, a separate living space, or home office.
A bathroom renovation can recover up to 57% of the initial cost.
And think about it – it always feels good to walk into a home and see a nice, open, clean, and updated bathroom. You spend so much time in there; you and your potential buyers deserve to feel comfortable and excited to be there.
Imagine a new color scheme with clean tiles, shiny appliances, and great water pressure. Just remember to prepare for proper bathroom demolition!
Also a relatively inexpensive undertaking, updating your lighting can go a long way to improving the value of your home. Fluorescent lighting are great investments in this regard.
Nothing is more frustrating than walking into a space and wishing you could see a little better. Make sure you have powerful lighting to help keep you and your potential buyers happy.
Make sure that walkways can be easily lit and accessed. You also don’t want the light to be too harsh or clinical-feeling. Kitchen lighting is important so people always know where their hands are. Be aware of the shadows that overhead lighting creates and plan for lighting around that.
These days, a lot of people are fans of ambient lighting and lamps. Try out exposed bulbs to give your home a steampunk retro feel.
If you’re a pet person or have kids running around, you’ll need floors that can sustain that. Having good flooring that can withstand heavy foot traffic and recover from scuffs can give your home a newer and cleaner feeling.
Remember, replacing and refinishing flooring was one of the top value-adders from last year.
Get rid of the creaky floors with uneven lines and bring in something new, shiny, and durable.
One of the top value adds for homes is HVAC updates. Make sure that your air is running effectively throughout your entire home. You can make everything electric with a smart thermostat and control the temperature from anywhere.
This adds appeal because of how easy it is to control. If you forget to turn off the AC before you leave for a week-long trip, you can do it right from your phone instead of worrying about your bill when you get back.
ENERGY STAR certified ceiling fans can also cut down on the costs of cooling by circulating the air more efficiently.
You can seal leaks and add insulation to help save money on heating and cooling bills. Then, add efficient appliances and shower heads that streamline water usage. You can also replace your windows to help seal in the air and reflect the sun outward.
Converting your basement can be a major project but will give you a huge return. You’ll be increasing the square footage of your home and creating more useable space. Finished basements can be turned into a plethora of useful things.
Whether your potential buyers are looking for more storage space or an extra space to live in, a finished basement opens up the possibilities for them and takes away the work they need to do.
Home updates can take a lot of time, money, and effort, but you can end up getting a lot out of it. There are many financing options available to homeowners, like personal loans, home equity loans, or a 0% APR credit card.
Adding value to your home will help you in the future as well as the present. After all, isn’t every homeowners dream to be able to make money on their long-term investments?
Discount Dumpster has dumpsters of all sizes, so whether you’re throwing out landscaping debris or building a brand new detached garage, we’ve got your trash removal option.
You can rent a dumpster for as long as you need so your projects aren’t rushed. You also don’t have to do any extra work when you rent with us. We’ll deliver and pick up your dumpster right to your home.
When you’re ready to start improving your home, give us a call!
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