5 Ways To Add Value To Your Home Without Spending A Lot Of Money
If you are a property owner toying with the idea of putting your home on the market, you might be thinking about ways you can add value to your home first. While the vast majority of well-maintained homes do increase in value over time, boosting the value of your home before putting it on the market doesn't have to break the bank. In fact, there are several affordable ways to add value to your home without spending a lot of money.
Check out these five budget-friendly tips for increasing your home's resale value.
Check out these five budget-friendly tips for increasing your home's resale value.
5 Ways To Add Value To Your Home Without Spending A Lot Of Money
1. Improve Your Home's Facade
First impressions matter, and when it comes to your home, what prospective buyers see when they pull up to a home can be the difference between them making an offer or simply driving away.
One way to instantly add value to your home is to give your it's facade a fresh coat of paint. If you need help with exterior painting, get in touch with a home remodeling company like John McCarter Construction. You can even paint your front entry door a new, vibrant color; one that complements the exterior color of your home (like the image above).
Value Added: According to Consumer Reports, painting your home's exterior can increase the value of your home by 2-5%.
One way to instantly add value to your home is to give your it's facade a fresh coat of paint. If you need help with exterior painting, get in touch with a home remodeling company like John McCarter Construction. You can even paint your front entry door a new, vibrant color; one that complements the exterior color of your home (like the image above).
Value Added: According to Consumer Reports, painting your home's exterior can increase the value of your home by 2-5%.
2. Maintain Your Property
Even if you don't own a lot of property, that doesn't mean you can't make the best of what you've got. Attractive landscaping has benefits far beyond the resale value of your home; there are environmental benefits as well. Did you know that just one tree could remove 26 pounds of carbon dioxide from the atmosphere per year?
Plant one or two fruit trees on your property, if possible. A decent fruit tree should cost no more than $50 - $75 each. Also, if your home lacks a deck or other outdoor entertaining space, consider laying a patio using pavers.
Value Added: According to The Florida Nursery Growers and Landscape Association:
Plant one or two fruit trees on your property, if possible. A decent fruit tree should cost no more than $50 - $75 each. Also, if your home lacks a deck or other outdoor entertaining space, consider laying a patio using pavers.
Value Added: According to The Florida Nursery Growers and Landscape Association:
- Landscaping can increase the resale value of a property by as much as 14%;
- Patio landscaping can raise property value by 12.4%; and
- A landscaped curb can increase home value by 4.4% (and hedges can add 3.6%).
3. Make It More Eco-Friendly
Eco-friendly homes are becoming increasingly popular, especially with millennial home buyers. But every homeowner, regardless of age, should try to incorporate some aspect of "green" into their homes.
If you're wondering what you can do for your home, consider upgrading your hot water heater to a more energy-efficient tankless model. Water heaters are the second highest source of energy usage in the home, with about 16% of a household's energy usage going toward heating hot water. With tankless model, you heat water on demand instead of an energy-guzzling 24/7/365, While it's a pricier upgrade, you will see a major payoff in terms of ROI.
Value Added: According to a study by Zillow, homes with a tankless water heater sold for 4% more than those with traditional water heaters.
If you're wondering what you can do for your home, consider upgrading your hot water heater to a more energy-efficient tankless model. Water heaters are the second highest source of energy usage in the home, with about 16% of a household's energy usage going toward heating hot water. With tankless model, you heat water on demand instead of an energy-guzzling 24/7/365, While it's a pricier upgrade, you will see a major payoff in terms of ROI.
Value Added: According to a study by Zillow, homes with a tankless water heater sold for 4% more than those with traditional water heaters.
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4. Think About Converting Unused Spaces
It can be tempting to create more space in your home by way of an addition (think: bedroom or family room) which will certainly add more value to your home, but unless you really have a use for the space, the cost of an extension can often outweigh the benefit it adds. Instead, look at re-purposing space you already have. You may want to consider adding a loft space to a detached garage, or converting a semi-finished basement into a usable space.
Value Added: According to The Balance Small Business, a finished basement will give you an ROI of 70 to 75%.
Value Added: According to The Balance Small Business, a finished basement will give you an ROI of 70 to 75%.
5. Paint
Lastly, the simplest way to upgrade your home on the cheap is with a fresh coat of paint. New paint helps to keep surfaces well protected, masking wear and tear. If it's been awhile since you last painted your home's interior, you might want to spend a weekend or two giving your interior spaces a facelift using today's popular paint colors in low to zero VOC paints.
Value Added: According to Zillow, homes that are painted blue sell for $5,440 more than expected!
Value Added: According to Zillow, homes that are painted blue sell for $5,440 more than expected!
If you're thinking about spending big bucks and taking on a major home renovation, check out this list of the top 7 home improvements that add the most value:
Courtesy of: Essential Flat Roofing
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