9 Upgrades That Will Increase Your Home's Value
There are many factors that impact the value of your home: its location, square footage, and age; the average price point of comparable homes; and the ratio of buyers to sellers in your local market. You don’t really have control over any of those things. But one thing you can control is the condition of your home and its features, and how prospective buyers will perceive the quality of your home. Here are 9 projects (shared by GoBankingRates) for increasing the value of your home before you list it for sale, ranging from $0 to $22,000 projects.
- Declutter your entire home to create more perceived space: According to real estate agent Ashley Oshinsky, “The less stuff strung throughout your home, the more spacious it will appear to buyers. More perceived space equals more perceived value.”
- Average price: $0 (You might even make money by selling some of your stuff!)
- Paint interior walls a light, neutral color: There's nothing like a fresh coat of paint to revitalize a room. And a lighter color will make the room look larger, so that's even more perceived space!
- Average price for paint: $100 to $300 for 10-by-12-foot room ($2 to $6 per square foot to hire a professional)
- Paint your front door: This is a great way to boost curb appeal! You can go for a bolder color here, like bright red or deep blue. Your front door will be one of the first things buyers see, so make a good first impression!
- Average price: $20 to $80 for a gallon of paint ($100 to $500 to hire a professional)
- Tidy up your landscaping: Another way to boost curb appeal is to make sure your landscaping looks great. You can hire a professional or do it yourself. Trim shrubs, mow the lawn, pull weeds, and add some flowering plants.
- Average price: $1000 to $2,500
- Have your home deep-cleaned: “The cleaner the space, the more buyers will think you took care of the house," says Oshinsky, "which equals more value in their eyes.”
- Average price: $300 to $500
- Power wash the exterior of your home: The first photo someone will see of your home is of the exterior, so make sure it's not looking shabby! You don't want to deter buyers from scrolling through the rest of your listing's photos.
- Average price: $500 to $1,000
- Update light fixtures: Swapping outdated light fixtures for trendier versions is a great way to give your home a more modern feel without spending a fortune. You could also try spray painting your chandelier (Rustoleum oil-rubbed bronze is a good choice), changing out the glass globes, and swapping old lampshades for modern-looking drum shades.
- Average price: $150 to $900
- Swap out old kitchen and bathroom faucets: Don’t let crusty old faucets make a bad first impression on buyers. Pick out some modern-looking new faucets and hire a plumber to install them. It will change up the whole vibe of your sink and counter!
- Complete those big projects (roof replacement, new furnace, etc.) before you put your home on the market: Don’t wait for a buyer to get an estimate on how much a new roof will cost, because they won’t be as motivated to shop around for the best price. If you leave it up to the buyer, you could end up paying more.
- Average cost to replace roof: $8,700 to $22,000
- Average price for new furnace: $5,500 to $8,000
Before you list your home for sale, consider making some of these upgrades and improvements. Even if you plan to stay in your home for the next several years, it's always nice to make upgrades while you're still living in the house. That way, you actually get to enjoy them!.
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