HOME IMPROVEMENT SERIES: Five Updates to Increase Home Value

27 Mar, 2014

Luxury kitchen

We’ve discussed Spring Cleaning Tips and Home Decorating Ideas so far in our Home Improvement Series. Next, we’ll help you discover ways to increase your home’s resale value. Your house is one of your largest and most important investments. Whether you just moved in or are planning to sell in the near future, there are home improvement projects you can do that will pay off when it’s time to put up the “For Sale” sign. From simple jobs like sprucing up curb appeal to a major kitchen remodel, check out these five updates that can add value to your home.

1. Update Your Kitchen

With the kitchen being one of the most important rooms for both homeowners and potential buyers, it’s a good idea to make sure your kitchen is updated before selling. According to Remodeling Magazine’s 2014 Cost vs. Value Report, you can recoup an average of 74% of the cost of a major kitchen remodel and 83% of the cost of a minor kitchen renovation. Consider installing new cabinets and counter tops; they may be a significant expense but can add substantially to resale value. Also, consider purchasing new kitchen appliances if yours are dated, as modern, matching appliances can instantly give your kitchen a new look. Learn more about 2014 kitchen appliance trends before deciding on the right ones for you.

2. Paint with Neutrals

A fresh coat of paint can change the look and feel of a room. Paint any trim, walls or doors that have chips or scuffs, and consider toning down brightly colored walls with a classic, neutral paint color. Don’t forget to touch up the ceiling if there are any marks or stains – you’ll want the whole house to look clean and maintained.

3. Install a Deck

If you don’t have one already, consider adding a deck to your home. This type of outdoor space is appealing to potential buyers, and an average of 87% of the cost can be recouped, according to Remodeling Magazine. Plus, you’ll be able to enjoy it! Just make sure that the deck you install is no larger than a third of the size of your home. A helpful tip is to check out decks around your neighborhood to get a better idea of the standard size and quality offered in your area.

4. Change the Lighting

From something as simple as adding a new window treatment to installing a dimmer switch for your lights, changing the lighting in your home can make it more attractive to buyers. Dimmers can instantly change the mood in the room, while adding new window treatments will make the room look finished. You can also consider updating your light fixtures in favor of modern ones. For example, a unique lamp will add style to a room while giving off soft light as opposed to overhead lighting, which can be harsh at times.

5. Add Curb Appeal

Now that spring is here, take a weekend and spruce up your home’s curb appeal, which is the first thing potential buyers will see. Paint your mailbox or buy a new one if yours looks worse for wear. Look for chips or scuffs on your front door and repaint if necessary. Also, add new street numbers to the front of your house that complement your home’s décor. Lastly, mow the lawn and trim any shrubbery in the front yard to keep things tidy and neat.

From low cost updates to more expensive jobs, there a plenty of home improvements projects that can help you increase your home’s resale value. Are you thinking of doing any home projects this spring?

Sources & Additional Reading:

  • remodeling.hw.net/cost-vs-value/2014/
  • hgtv.com/real-estate/20-ways-to-add-value-to-your-home/pictures/index.html
  • home.howstuffworks.com/home-improvement/repair/increase-home-value.htm
  • home.howstuffworks.com/home-improvement/remodeling/5-ways-to-add-value-to-home9.htm
  • realestate.msn.com/article.aspx?cp-documentid=13107903

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