Buying a home is one of the biggest investments you will make. If managed properly, it can also be a great way to make some extra income. Whether you’re ready to sell or are just looking to build up equity for the future, here are 5 simple ways to increase the value of your home.
1. Improve Curb Appeal
The outside of your home is the first thing buyers see. That means you want it to make a good first impression. Start by cleaning up your yard. This includes raking leaves, mowing the lawn and weeding. You’ll also want to trim trees.
If you don’t have any trees, consider planting some. Even if you aren’t planning on selling today, as they grow, the value on your home will increase as well. Trees can even help cut the cost of cooling your home.
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Some fast growing options for trees include:
- Pine
- Sycamore
- Tulip Tree
- Silver Maple
When choosing plants for your yard, opt for flowers and shrubs that are native to your area. This will help ensure the plants thrive and can help reduce maintenance. Planting perennials that grow back each year is also another good way to reduce maintenance and cut costs.
If you have a small yard or aren’t a fan of gardening, use seasonal windows, hanging or standing planters to add colour and life.
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In addition to adding more plant life, you want to clean up the outside of your home as well. Start by power washing the walls. Take your time and avoid getting too close, especially with sided and painted homes.
You can also think about installing a new front door and garage door. If that isn’t in the budget, give your doors a fresh coat of paint. You’ll also want to paint and touch up window frames and casings.
Updating hardware like handles, locksets, house numbers, and your mailbox are also great ways to improve curb appeal.
2. Renovate Kitchen And Bathroom
The bathroom and kitchen are high traffic, high use spaces that deal with the most wear and tear. That is why they’re seen as the most impactful spaces you can make changes to.
If you are trying to increase your home’s value on a budget, you don’t need to invest in a full renovation. Instead refresh the space with easy fixes, such as these:
- Install a backsplash
- Give cabinets a new coat of paint
- Replace flooring with modern tiles or vinyl
- Upgrade inexpensive fixtures, including vanities, toilets, taps, lights, shower heads, etc
- Replace knobs and pulls with something more modern
You’ll also want to consider replacing your kitchen appliances. When possible choose energy efficient options. They are more attractive to buyers and can help reduce utility costs while you’re in the process of selling.
3. Brighten Up Your Home
Brightening up your space makes your home appear bigger and more welcoming. This can attract more buyers and help increase the value.
One of the simplest ways to brighten up your home is to give everything a fresh coat of paint, including the walls, ceiling and molding. For colour choose something with a neutral pallet – this will appeal to the greatest number of buyers.
Another way to brighten up your home is to replace heavy curtains with blinds or light coloured sheers or drapes. You can also consider replacing dated light fixtures. If your current fixtures are new or in excellent condition, give them a good clean.
You will also want to install brighter and warmer bulbs – this will help soften the space and make it more inviting.
4. Clean and Organize
The more items you have in a space, the more cramped it will feel. Taking the time to go through all your possessions before you move will help the space feel more open and make moving easier.
Make thoughtful decisions about the items you keep in your home. Start by sorting through everything you own and donate, sell or toss anything you no longer use. If your space still feels too full, consider renting a storage unit to store items you don’t use every day.
Next, you want to give your home a good clean. Be extra thorough to show potential buyers that your home was well cared for. Don’t leave any spot untouched – even the space behind the toilet that we think nobody notices.
Once you have cleaned and organized, you can start staging your home. This doesn’t mean you have to hire a professional stager or rent furniture. Instead, use your own furniture and decor to give each room a purpose and visually increase the size of your space.
Keep it minimal but purposeful – you want to make it easy for buyers to see their own furniture and possessions in your home.
5. Stay On Top Of Repairs
While one small repair in each room may seem like nothing, multiple little issues can add up quickly for someone viewing your home.
Take the time to go around your home and make a list of all the small repairs that need to be made. Include everything, even if it seems small. Some good items to start with are:
- Paint touch ups
- Cracked outlet covers
- Missing or torn window screens
- Leaky faucets
- Tarnished hardware, faucets and metal sinks
- Burnt out bulbs
Once you have your list, you can begin checking off items. Start with easy wins or repairs that will have a big impact without a high cost. Once you’ve completed your list, stay on top of new problems to help keep your home looking loved and cared for.
Even completing just some of these simple projects will make a huge difference in the way your home looks and feels. The more you do, the more impressive the change will be. And of course, any substantial upgrade will increase the value of your home, attract more buyers, and help speed up the selling process.
