How to Add Value to Your Home in a Cost-Effective Way

Adding value to your home does not have to be an expensive endeavor. In fact, some of the easiest ways to add value to your house cost only a few hundred dollars to complete. Many homeowners believe they need to invest a lot of money into big projects like brand new kitchens and pools to add value to their homes. In reality, simple things like paint color, lighting choices, and consistent maintenance have a much higher return on investment.

Create a Plan

Before renovating your home, it’s essential to create a plan and better understand what you want to do and what you intend to get out of your renovations. Renovating your home to sell may yield different results than renovating your home to enjoy it. Establish these things while creating your home renovation plan:

• What am I renovating? You may already have some home renovation projects in mind. If you don’t, a home inspector is a great resource to understand what needs work. Plus, having a home inspector proactively look at your home will help avoid any surprises when you close on your home.

• What do I want out of my renovation? Ask yourself – am I renovating my home to increase the value of my home or to enjoy it more? The answer could easily be both. If you plan to add value to your home, a real estate agent is a very knowledgeable resource that may be able to point you in the right direction.

Paint Your Walls (and your front door!)

Did you know that paint color can make a huge difference in what you can get for your home? A report by Zillow found that homes with charcoal, smoky-black, or jet-black doors sold for $6,271 more than expected. The report also found that houses with light blue bathrooms sold for an extra $2,793. As for the rest of your home, you’ll want to stick to neutral colors. Anything too flashy or distracting will immediately put homebuyers off from buying your home, which will result in your home sitting on the market for much longer.

Update Your Kitchen

Minor, inexpensive updates to your kitchen can significantly increase the value of your home. Remove your kitchen cabinets and give them a fresh coat of paint to make your kitchen appear more modern. Use high-quality, self-priming paint for the best finish. Since your hardware will already be removed while painting the cabinets, consider replacing it or updating it with a few coats of spray paint. Once your cabinets are updated, add some under-cabinet lighting. Something as simple as adding these lights can make your kitchen look more expensive and updated.

Update Your Lighting Fixtures

Lighting fixtures are another easy way to add value to your home for a reasonably low cost. For the lowest price to update, consider giving your lighting fixture a fresh coat of spray paint. Often, simply changing the color from something dingy and outdated to something more modern and new can completely change the look of the entire fixture. For a fresh start, look into lighting fixtures that add more light to your room and do not draw too much attention. Remember, your fixtures should add to the room, not detract from it. The perfect lighting fixture will add depth to your room and fit proportionately to the rest of the room. Don’t forget places like breakfast nooks, storage rooms, mudrooms, closets, and laundry rooms when replacing your lighting fixtures. While you’re at it, consider replacing your light switches as well.

Renovate Your Bathroom

Bathrooms are another easy place to increase your home’s value without spending too much money. To increase the value of your bathroom, start with a fresh coat of paint on the walls. Opt for a more neutral color like light blue, white, or beige. Similar to the kitchen, remove the cabinets and repaint them with premium-quality paint. Your bathroom will get reasonably humid, so make sure the paint won’t peel. Replace the hardware with something more modern. Finally, update the finishes like your faucet and mirror. Overall, these projects shouldn’t cost a lot, but they will help your house sell faster and add to your home value.

Can you believe increasing your home value is as simple as making a few of these small changes? Adding value to your home does not have to be a massive, expensive endeavor. Focusing on less extreme, more impactful things like color and light is such an effective way to give your home value the boost you’re looking for. Want more tips for your home? Check out the rest of our blogs!