Whether you’re getting ready to sell your home or just need to make updates, there are improvements you can make to increase your home value without breaking your budget. Owning a home can be an ongoing to-do list but there are a variety of projects to tackle for all skill levels and price ranges to make it manageable.
Updates to increase your home value
1. Paint – Paint is a simple, cost effective home improvement. 36% of sellers paint their home’s interior before selling. If you’re selling and have any colorful rooms, paint the walls a neutral color. This helps the potential buyer envision the room as a blank canvas. What is now your daughter’s bubble gum pink room, may turn into the new owner’s home office. This update also applies to any outdoor areas such as a deck, siding and front door. If the paint or stain is faded and chipped, take the time to apply a fresh coat.
2. Flooring – If your home has carpet, when was the last time it was replaced? Carpet generally has a lifespan from 5-15 years depending on the type of carpet and wear and tear. Some indicators that it is time to replace the carpet include tears, fading, wrinkles, stains and smells. If you have children or pets, new buyers may especially appreciate fresh carpet. Also, consider hard surface floors in high traffic areas such as hallways, stairs, kitchen, entryways, laundry and mud rooms. Hard-surface floors are much easier to keep clean, don’t hold odors and give your home an updated look.
3. Landscaping – Curb appeal is a huge selling point to buyers and the neighborhood to make a good first impression. Everyone wants the entrance to their home to look welcoming. Consult a landscaping or garden center expert if you’re not comfortable tackling it yourself or you’re unsure what grows best with your soil type, amount of sunlight and layout.
- Add a layer of fresh mulch to your landscaping.
- Cut back and trim overgrown bushes and hedges.
- Plant shrubs and colorful plants.
- Consider plants that are drought-tolerant and low maintenance to have curb appeal all year long.
- Fix patches or overgrowth in the lawn.
4. Small updates = a big return – If you can’t afford to spend a lot of money on full room remodels, make small updates in each room to freshen up the house.
- Remove dated wallpaper
- Update light fixtures
- Add a ceiling fan in bedrooms
- Replace a bathroom vanity
- Update cabinet hardware
- Repair any faulty mechanics or plumbing which could lead to bigger issues long-term.
- Add smart home technology
5. Prioritize bigger updates – If you’re going to pick a room to make bigger updates, the kitchen and bathroom are the two rooms in a house that have the biggest return on investment.
Consider incorporating energy saving tips along the way to save on home energy bills. Talk with your local Rural Mutual Agent as you make updates to make sure you have enough coverage as the potential of your home value increases.