Blog > 10 Budget-Friendly Tips on How to Increase Your Home Value
As a homeowner, you want to ensure that your investment in your property is a sound one, and that you can get the best possible return on it. One of the ways to do this is by increasing your home’s value. However, many people believe that increasing home value requires a lot of money and time. This is not necessarily true. There are many budget-friendly tips and tricks that can help you increase your home’s value without breaking the bank. In this article, I’ll be sharing ten such tips that you can use to increase your home’s value.
Understanding What Adds Value to a Home
Before you start making any updates or changes to your home, it’s important to understand what adds value to a home. Not all updates are created equal, and some may not bring you the return on investment that you’re hoping for. Here are a few things that typically add value to a home:
Curb appeal:
The exterior of your home is the first thing that potential buyers will see. A well-maintained lawn, a fresh coat of paint, and a tidy front porch can go a long way in increasing your home’s value.
Energy-efficient upgrades:
Energy-efficient upgrades like installing a programmable thermostat, sealing air leaks, and upgrading to Energy Star-rated appliances can help you save money on your energy bills while also increasing your home’s value.
Updated kitchen and bathrooms:
Kitchens and bathrooms are typically the most used rooms in a home. Updating these spaces with new countertops, cabinets, and fixtures can add significant value to your home.
Square footage:
Adding square footage to your home, such as a finished basement or an additional bedroom, can increase your home’s value.
Small Updates That Make a Big Impact
Not all updates require a major renovation. Here are a few small updates that can make a big impact on your home’s value:
Painting:
A fresh coat of paint can make your home look brand new. Stick to neutral colors that will appeal to a wide range of buyers.
Lighting:
Good lighting can make a space feel brighter and more welcoming. Adding new light fixtures or updating existing ones can make a big difference.
Hardware:
Updating hardware on cabinets and doors can give your home a more modern and cohesive look.
DIY Projects to Increase Home Value
If you’re handy with tools, there are many DIY projects that you can tackle to increase your home’s value. Here are a few ideas:
Landscaping:
You don’t need to hire a professional landscaper to improve your home’s curb appeal. Planting flowers, trimming hedges, and adding mulch can make a big difference.
Flooring:
Installing new flooring can be a DIY project if you’re comfortable with power tools. While hardwood flooring can be expensive, there are many budget-friendly options like laminate or vinyl that look great.
Painting:
As mentioned earlier, painting is a simple update that can make a big impact. If you’re comfortable with a paintbrush, this is a project that you can tackle on your own to save money.
Energy-Efficient Upgrades
Energy-efficient upgrades not only save you money on your energy bills but can also add value to your home. Here are a few upgrades to consider:
Programmable thermostat:
A programmable thermostat allows you to set your home’s temperature to your schedule, which can save you money on your energy bills.
Sealing air leaks:
Sealing air leaks in your home can prevent drafts and save you money on your energy bills.
Energy Star-rated appliances:
Upgrading to Energy Star-rated appliances can save you money on your energy bills while also increasing your home’s value.
Curb Appeal Improvements
The exterior of your home is the first thing that potential buyers will see. Here are a few curb appeal improvements to consider:
Landscaping:
As mentioned earlier, adding landscaping elements like flowers and mulch can make a big difference.
Paint:
A fresh coat of paint on your home’s exterior can make it look brand new.
Front porch:
Adding a welcoming front porch with seating and plants can make your home look inviting.
Adding Square Footage
Adding square footage to your home can be a big investment, but it can also add significant value to your property. Here are a few options to consider:
Finished basement:
Finishing your basement can add additional living space to your home.
Additional bedroom:
Adding an additional bedroom can increase your home’s value, especially if it’s done in a way that doesn’t sacrifice living space.
Outdoor living space:
Adding an outdoor living space like a deck or patio can increase your home’s value while also providing a space for entertaining.
Updating the Kitchen and Bathrooms
Updating your kitchen and bathrooms can add significant value to your home. Here are a few updates to consider:
New countertops:
Replacing old countertops with new, modern materials like quartz or granite can add significant value to your home.
Cabinets:
Updating your cabinets with modern styles and finishes can make your kitchen or bathroom look brand new.
Fixtures:
Updating your fixtures like faucets and showerheads can make your bathrooms look more modern and polished.
Hiring a Professional to Increase Home Value
While many updates can be done on your own, sometimes it’s best to hire a professional to get the job done right. Here are a few updates that may require a professional touch:
Roof replacement:
If your roof is in need of replacement, it’s best to hire a professional to ensure that it’s done correctly.
Electrical upgrades:
If you’re adding additional outlets or upgrading your electrical panel, it’s best to hire a licensed electrician to ensure that the work is done safely.
Plumbing upgrades:
If you’re updating your plumbing fixtures or adding additional plumbing, it’s best to hire a licensed plumber to ensure that the work is done correctly.
Conclusion and Next Steps
Increasing your home’s value doesn’t have to be expensive or time-consuming. By making small updates, tackling DIY projects, and investing in energy-efficient upgrades, you can increase your home’s value without breaking the bank. If you’re considering making updates to your home, start by focusing on the areas that will bring you the most return on investment. By following the tips in this article, you can increase your home’s value and ensure that your investment in your property is a sound one.
If you’re looking to increase your home’s value, start by making small updates and focusing on areas that will bring you the most return on investment. For more information on how to increase your home’s value, contact us today.
The Jaymes Willoughby Team
P: 512-308-3244