Homeowners constantly seek out new ways to build value to their homes. But adding value can come at a high price. Renovations and upgrades are expensive, and not all home projects promise a return on investment in the form of increased equity.
Property owners on a tight budget need to pick and choose which improvements to make in order to take advantage of limited resources. If you can learn what provides the best bang for your buck without too much hard labor or too many complicated tasks, you can work more efficiently to increase your home’s value on the market.
If you’re looking to add value to your home without breaking the bank or needing to call in a pro to get the job done, consider these three easy projects that anyone can tackle.
Painting, Inside and Out
When it comes to your home, appearances do matter. If you have old, dingy, or mismatched colors on the wall, consider taking on a complete painting project to boost your home’s value.
This doesn’t mean slap on a fresh coat in the living room and call it a day. If you want to add real equity to your home via your work, you need to plan ahead and do the job from top to bottom.
First, choose a color scheme for your entire house. All the trim should be the same color, and rooms should be different enough to add interest but not so unique that nothing matches. In other words, plan to paint a handful of colors that coordinate and compliment one another.
Don’t forget the outside, either. Plan to repaint siding, exterior trim, and shutters. You can even spruce up doors and decks if they’re in need of a fresh look.
Next, get the right tools for the job so your edges are clean, your lines are neat, and you avoid getting paint where it’s not supposed to be. It may be a time-consuming job to get the whole house done, but it’s relatively low-cost way for anyone to add value to a home — especially if that home is older or dated.
Another easy project that has a big return on the investment of your time and money? Replacing the hardware on your doors and cabinets. This has the same potential to completely change the look and feel of your home, without requiring serious renovation. Approach this project in the same way as a total painting makeover. Plan ahead and choose colors and styles that go with the overall aesthetic of your home.
To complete this trio of easy projects anyone can do to add value to their home, consider changing out light and bathroom fixtures. Replacing fluorescent lights with gentler lighting always does a room (and the people in it) a favor, and a home can look years younger with new sinks and faucets. Make sure your choices compliment the overall style of your home.
And don’t be afraid of working with electricity. Be sure you turn off all light fixtures before working with them, and cut the power at the circuit breaker. You can ensure the power is truly off using a non-contact voltage tester (after first ensuring the tester works by trying it in a plug you know is live).
In bathrooms, try newer shower heads and replace old faucets with new ones. Before replacing anything connected with plumbing, shut off the water supply. Once your new bathroom fixtures are in, check for leaks before calling the job done.
With these three projects that anyone can do, you can add real value to your home without busting your budget to do so.
Are you looking to refinance your current home loan? Mortgage rates are at the lowest point in over a year, find out how much the experts at Total Mortgage can save you today.