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Old House, New Tricks: How to Increase Your Home Worth (On a Budget)

Ball. On a Budget.

A home is a big investment and it appreciates in value over time, especially if it’s well-maintained. If the market conditions are favorable and the property is attractive to the buyer, the sellers can make a good profit from the sale.

However, a lot depends on the condition and appearance of the property.

People don’t make the decision to purchase the property lightly. They make sure the house is in good-repair, looks presentable, and doesn’t require a lot of work. Some buyers want a fixer-upper, but most would rather have a property that’s ready to move into.

That’s why experienced real estate agents encourage homeowners to spend some time and money on home repair and renovation right before they place it on the market for sale.

This helps increase home value and ensures the property is more desirable. These homes are likely to sell quickly and at a higher-than-expected rate.

Here are some cheap ways to increase home value and make a quick sale:

Home improvements that add the most value – Give the kitchen a facelift

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This is one of the first rooms buyers want to see when they’re inspecting a home. The kitchen is considered the heart of the home and is often a deal breaker. If the kitchen is dated and unkempt, the buyers won’t want to spend money on the home.

Here are some ways in which homeowners can give their kitchen a facelift:

  • Change the covers on the kitchen cabinets. It’s easy and affordable to refinish the cabinet doors and give them a fresh appearance. As these installations take up a lot of visible space in the kitchen, refinishing them can have a big impact on the kitchen’s appearance.
  • If you don’t want to spend money on refinishing the cabinets, you can still improve the overall appearance of the kitchen by changing the hardware. Replace the kitchen faucets, cabinet door handles and knobs, and other such fixtures.

This is quick and easy to do but has a big impact on the overall appearance of the kitchen.

Things that add value to a home appraisal – Focus on the bathrooms

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The bathrooms are the next most important rooms in the house from the buyer’s perspective. They want good-looking and functional bathrooms because they don’t want to spend time and effort renovating them.

Here are some small repairs you can make to your bathrooms:

  • Replace the toilet seats, bathroom hardware like faucets, shower heads, and taps, and change the sinks and vanity if needed. Clean the bathtubs and regrout the tiles to give them a cleaner appearance.
  • If the bathroom floor looks too dated, homeowners can easily cover it with easy-to-apply vinyl tiles. These are colorful, attractive, and affordable. As floors are highly-visible, covering them up with tiles is a great way to make the bathroom look new and fresh.

Paint the doors and window frame

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Worn and old-looking door and window frames can compromise the beauty of the property on both the outside and inside. Cleaning and repainting the doors and window frames are an easy way to enhance the appearance of the door and window without spending much money.

Homeowners can find all the supplies they need tosand the wood, prime and paint it at their local hardware store. This can be an easy weekend DIY project.

Increase home value for appraisal – Add smart storage solutions

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Many homes, especially older properties, don’t have enough storage space; that can often deter prospective buyers from purchasing the property. It’s easy and affordable to add smart storage solutions in the bathroom, bedrooms, garage, and basement.

Good storage can be a selling point for the property and attract the interest of more customers.

Consider the flooring

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Most homes have wall-to-wall carpets or wood floors. It’s a good idea to get them professionally cleaned before placing the property on sale. Professional cleaners will ensure the floor looks good and all the carpets are stain-free.

Most real estate agents don’t recommend replacing the carpets unless they’re completely ruined and compromise the appearance of the room too much. If you have tiled floors, consider getting them re-grouted.

Add value to your home on a budget – Lighting

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Buyers like a well-lit and bright home because it makes the property look presentable and welcoming. Replace old lights with new LED bulbs and add new fixtures to brighten the atmosphere.

If you’re willing to splurge a little, consider a full renovation for the kitchen and the bathroom instead of a partial one. These areas catch the buyer’s eye and most are willing to pay a little extra to purchase a home with a newly renovated bathroom and kitchen.

The repairs and renovations mentioned in this article are the best home improvements for resale and are worth the money and effort you put in.

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Written by John D. Saunders

John is a Marketing Strategist and Investor. As the Founder of 5Four Digital, a Marketing Agency in Miami, John leverages his understanding of money management and Marketing to create financial opportunities.

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