If you’re thinking of selling your home or real estate investment, it can be hard to know how to invest in your home to increase its value. Many people spend up to a year prepping their home for a sale. When the economy is peaking in a seller’s market, however, keeping updates and innovations simple and directed can help minimize the time needed to prep a home and save thousands (if not hundreds of thousands) in the long run. After all, you don’t want to miss out on the ideal time for putting your home on the market. Discover our top recommendations for making your home more desirable and increasing the value quickly – without breaking the bank.
Here are 5 simple and easy tips for getting the most out of your investment:
1. Start Small
Make sure that you are keeping up on home maintenance. Potential buyers may be turned away by something as small as dirty grout or chipped paint. Fixing these relatively minor issues can be simple, taking just a little elbow grease or a small investment, and they can yield a large result. Some projects that we suggest are: fresh paint, updated fixtures, switching fluorescent lights to LED, removing/cleaning old carpet, and replacing old toilets.
2. Go Green
Today’s buyers value energy efficiency and green-living, so make sure your home uses energy wisely. Invest in small projects, such as installing on-demand water heating. Water heating can account for as much as 16% of the energy costs. That said, heating the rest of your home can use more than twice as much energy as heating your water, so installing a smart thermostat can also entice potential buyers as well as lead to significant savings on utility bills. And, last but not least, upgrading from single-pane to double-pane windows can make a huge difference, but may take more time or money than you want to spend.
3. Upgrade the Kitchen
According to Consumer Reports, a “modern/updated kitchen” was the #1 desirable feature in a home for millenials. Again, don’t go overboard here – for only a few thousand dollars, you can invest in new appliances, fixtures and lighting. Also, adding a fresh coat of paint to walls and cabinets will freshen the look, and make the space feel new. If your kitchen is in need of a deeper remodel, new counters can make the difference you are seeking. Our choice material is quartz with an undermount sink – it looks modern and is easy to maintain.
4. Improve the Bathroom
Bathroom improvements should follow the same principles as kitchen improvements. Replace old plumbing with new and matching fixtures. Coordinate the plumbing with any towel bars and toilet paper holders to create a cohesive look. Make sure to deeply clean tile and other hard surfaces – and consider reglazing any chipped or worn basins and tubs.
5. Curb Appeal
First impressions count! Now’s the time to repaint the house if it hasn’t been done in the last ten years, or if there is any damage to the existing paint. Consider replacing the front door – it is the focal point of a home’s exterior. Make sure that landscaping is easy to maintain. If you don’t have an irrigation system, now’s the time to install one. If you have the space for it, highlight any outdoor living space by adding some nice chairs and an outdoor rug to a deck. You can spruce up the space with a fire ring on your patio and a well-maintained yard.