Affordable Home Renovations That Boost Market Value
Every homeowner’s dream is to have a beautiful, affordable home that doesn’t break the bank.
While it is fun to put your own twist on your home, deciding what repairs are worth the cost can be tricky.
When making repairs to your home it’s important to make sure those repairs will improve the market value.
This way, when you go to sell you can potentially earn more money for your house and pay off the mortgage.
Thankfully finding inexpensive home repairs that add value is easy and possible.
Here are the three most effective and important things you should know.
1)Painting
A few brush strokes are all it takes from the exterior, interior, or even front doors, the right bucket of paint can be a pot of gold.
Not only does paint freshen up your home, but a fresh coat of paint can also lead to a serious payday.
The right paint colors can add over $6,000 to your home value.
A Zillow report showed that painting your front door a darker color, such as black or charcoal, can increase your home’s sale price by more than $6,000.
If you are looking to paint inside your home, the right color can also lead to improved home values.
Top picks for home colors are neutral and cool tones to appeal to buyers.
‘Cool’ colors are a great fit for kitchens and bedrooms, with homes with blue-gray kitchens selling for $1,800 or more on average!
Painting any part of your home can lead to a large impact on your home value.
A 2015 study showed that homeowners who painted their home’s exterior received a 51% return on their initial investment, meaning they profited from painting their home.
If you are looking for a cheap way to improve your home value, look no further than a gallon of paint and a paintbrush!
2)Minor Kitchen Repairs
Homeowners and buyers alike know that kitchens are the most important rooms in any house.
So much, in fact, that kitchens are often the deal breakers for homebuyers.
Realtors often refer to kitchens as the heart of the home.
Finding ways to improve your kitchen can lead to improved market value.
That is why any minor kitchen repair can lead to an uptick in home value!
The average return for a minor kitchen remodel is 83%.
A minor kitchen remodel can include updating small parts of your kitchen or even single improvements that improve the function of your kitchen.
A minor kitchen upgrade can include:
- Repaint cabinets
- Replace hardware
- Replace or add a backsplash
- Repairing or Replacing Countertops
- Replace the lights
- Improve Storage
A minor kitchen upgrade can add a lot of value to your home.
Even if you tackle one repair at a time, you can add value to your home without a serious investment.
Credit: halfbakedharvest.com
A 2018 report conducted by Zillow, one of the leading online real estate and online marketplace, found out that painting kitchen cabinets alone increase the home’s resale value by a whopping $1,547.
Kitchen repairs, no matter how small are a great way to add value to your home.
These functional repairs will get used every day and can improve the look feel and function of your kitchen.
3)Landscaping
First impressions can play a large role in your home value.
When it comes to first impressions, look no further than curb appeal, and landscaping for better ways to improve your home.
Curb appeal is one of the first impressions buyers have of your home.
By improving your curb appeal, you can make a great first impression, and boost your home value.
The Washington Post puts the potential return on investment of landscaping projects between 150% and 1,000%, meaning they’re likely to pay off handsomely in the end.
Some landscaping projects that add value to your home are:
- Weeding flower beds and planters
- Adding hanging baskets, flower beds, or planters
- Planting trees, flowers, and grass
- Add mulch
- Removing dead trees, bushes, grass, and leaves
- Power washing
Power washing not only is oddly satisfying but this simple activity has been known to also improve home value between 5% and 10%.
That means if a house is on the market for $250,000, on the low end you could be seeing an increase in value by $12,500.
Depending on the time of the year, and where you live, your green thumb can have you seeing green.
Landscaping and yard work is fun and the best way to improve your home value.
Summary:
Want a fun home project that won’t break the bank?
The right repair not only makes your home function better, look better but if done correctly can earn you money!
These affordable repairs will improve your home value!
- Painting: Painting your home can lead to a major payday! A report from Zillow stated that a fresh coat of paint can add over $6,000 in home value.
- Minor kitchen repairs: The average return for a minor kitchen remodel is 83% and improves the look and function of your home.
- Landscaping: Simple improvements to the front of your yard can add a lot of value. Simply Power washing can add up to 5% and 10% home value.
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