When you’re selling your home, you may be surprised at how cold and matter-of-fact the real estate market is. To you, the chipped corners and stains are fond memories of family memories you’ve loved. But they’re not so great for increasing the value of your home.
In fact, they might even be lowering how much you can list for. Yikes! Or maybe you’re not even selling your home but are definitely looking for ideas on renovating it for future appraisal and wondering just how much home improvements increase value.
Let’s prepare for the appraisal and learn how to increase home value—exterior as well as interior renovations can increase its value.
Exterior Renovations to Focus On
Your yard is an important part of your home. It’s the first thing people see when they visit. A great idea is to take a look at it in the morning, afternoon, and night. You will discover that the change of time of day can illuminate various aspects of your yard that need some attention.
Your backyard needs just as much attention, so don’t forget to check it out during different times of day too! Although your mindset should be slightly different because when looking at the backyard, you’ll get more bang for your buck with more practical improvements rather than just cosmetic ones.
The more features that are actually bits and pieces of entertainment will not only increase home value but leave a lasting impression on potential buyers.
One of the easiest ways to improve your home’s curb appeal is by starting with your landscaping. It is important not to go overboard because buyers don’t want a high-maintenance home. If the yard is just way beyond an average person’s knowledge of gardening, buyers are going to be turned off.
So keep it simple by embracing symmetry and brighter colours. You can start by adding fresh shrubs and flowers that accentuate the aesthetic aspects of your home. You don’t even have to get crazy with the planting if you don’t have a green thumb. Planters and window boxes are always a welcome addition.
Your front entrance
Improve your entryway with some front porch seating or even just a few potted plants. If you’re on a tight budget, don’t worry—you can find furniture pieces at thrift stores. They might need a little work, but there are lots of easy DIY videos you can follow to transform thrifted finds into beautiful pieces that look like they cost a fortune. Many of those videos detail their costs so you can see how affordable it is to make changes yourself.
If your front porch is too small for a standing planter and seating, hang potted plants from the ceiling or on a wall ladder. You can also paint the door and eye-catching shades of blue, brown or green if neutrals are more your jam.
Believe it or not, even brown can stand out. This is an easy renovation that won’t cost much money. One budget-friendly idea to increase the value of your front entryway is simply reframing your front door. This can work wonders and can be done for very little money.
If you don’t have the tools, you can always rent them from Home Depot and similar retail stores. This is another one of those DIY projects that can be done for very little but makes a giant difference.
Interior Renovations to Focus On
To get your home in shape, it’s important to start with the exteriors and then work your way into the kitchen and bathrooms. This goes for pretty much all things home improvement, but depending on how much of a do-it-yourselfer you are, the average cost of any project can vary.
If you want to save money and have fun in the process, we encourage you to get your hands dirty! You will be surprised by how much you can do and the pride you can gather along the way! If you’re still wondering whether or not home improvements increase value, the answer is yes!
Install Laminate, Vinyl or hardwood flooring
Wood floors are one of the best home improvements you can make. They’re long-lasting, easy to clean, and well-loved in the real estate world. They increase your home’s value and get you the best return on investment in comparison to other flooring options like tile, carpet, stone or marble flooring.
However! When deciding on what the best flooring to increase your home value is, you need to take into account the climate of where you live. If you live in an area with high humidity, you should consider alternatives to wood such as high-pressure laminate, luxury vinyl or tile.
Get rid of that popcorn ceiling
If you’re wondering whether removing a popcorn ceiling increases home value, the answer is yes. Let us explain. If you have a mid-size home that’s worth $200,000 or less and your home has a popcorn ceiling, it may not be worth your time to remove it (unless it’s really bad).
Houses in that range are in high demand with or without popcorn ceilings. However, the more expensive the home and larger it is, the more likely a buyer is able to walk away from an expensive home with a popcorn ceiling and instead purchase a more updated home for the same price.
Whether you have a mid-size home or not, removing popcorn ceilings increases home value and usually you get all your money back during resale because of the added value. Some people shy away from removing popcorn ceilings due to the mess involved in DIY projects like this one but it’s actually pretty easy if you follow our step-by-step guide!
Paint those walls
Painting your walls is a great home improvement project, especially if you choose neutral colors. Your house will instantly look better and be worth more money. Painting is also very affordable and is projected to return 107% on investment, which means you’ll make back more money than it cost to paint in the first place.
You can’t go wrong with neutrals because it makes people comfortable, which will help sell your home faster. Versatile colors like beiges, golds, tans, and grays allow people to move right into this home without having to repaint anything.
Finally get organized!
When potential buyers walk through a home, they want to know: Where can I put my things? Improving the space in which people can store their possessions can be as valuable as improving a home’s aesthetics.
Focus on building shelves or places to hang things from. The garage is easily one of the most cluttered areas of the home so when prospective buyers see a well-organized one, especially one that can still fit vehicles in it, that automatically leaves a lasting impression. If you invest in your garage, you can easily raise the value of your home.
However, think about all your storage spaces and not just garages and basements; also consider closets for clothes and linens!
How can Ahmad, mortgage specialist at AskAhmad.ca and the Total Mortgage Source 360 Team help you?
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