We all know that a major kitchen makeover, brand new wood floors, or upgraded bathrooms can increase your home value. Duh. After all, these huge investments, taking tons of time, money and effort to complete.
But do you have to break the bank and put in hardcore renovations to significantly raise your home's value? Surprisingly, the answer is, "No!" In fact, there are quite a few simple, budget-friendly ways you can boost the value of your property. Work smart, not hard, right?
If you're considering selling your home in the near future and want to increase your home value (without emptying your pocketbook), here are a few affordable upgrades that can help
1. Updated Appliances – Very few buyers want to go through the hassle of moving their fridge, washer, dryer, dishwasher, and other appliances. Instead, they want a home that's ready for move-in...no hassle, hook-up or installation necessary! Unfortunately, not all appliances are created equal, and a set of outdated, 1950s-era appliances might not sway a buyer to purchase your home. Many buyers look for new – or at least recent – models of appliances that are clean, appealing, and in good working condition. If your appliances are out-of-date, consider replacing them with newer, stainless steel models. These have a more high-tech, modern look, and will definitely work in your favor when it comes to buyers.
2. A New Fence – You probably don’t give your fence a second look, but potential buyers certainly do – especially if your fence extends to the front of your property! First impressions are key, and fences play a big role in the overall look of a house. You always want to make sure your fence is in top condition as you prepare to sell. Luckily, this simple upgrade doesn’t cost too much! Typically, a professional can install a brand new wooden fence for between $1,000 and $2,000. You can also opt to do it yourself if you’re the handy type. Sometimes, even just replacing a few pickets or giving your existing fence a new stain can do the trick!
3. Storage – Lots of storage space is on just about every buyer’s bucket list, so adding additional storage wherever you can is always a plus. The absolute best option is to create one of the industry’s hottest trends nowadays – the mudroom – and offer buyers a storage-filled place to put their shoes, umbrellas, hats, jackets, keys, and other essentials when they come in the house each day. If you don’t have an extra room to create one, you can simply install a mudroom unit in your entryway, foyer or laundry room – something with seating and storage. If a mudroom just isn’t possible in your home, consider adding storage elsewhere. Put extra shelves in your cabinets, install closet systems, or add extra cabinetry in your laundry area or garage.
4. Going Back to Basics – If you’ve got a vintage property, you can actually up your value a lot just by going back to the home’s basics. Tearing out carpet or tile and revealing the original, existing flooring can give the home a rich, historic look. Another great option? Tear away some of the wall and sheetrock, exposing some brick in one of your rooms. It makes a big statement, and it can give any property a more elegant feel.
Trees – It sounds minor, but buyers in Texas actually love trees – especially big, mature ones that offer shade and curb appeal all in one. In fact, according to a University of Washington College study, mature trees add 2 percent to a home’s price overall (and as much as 15% in higher-income neighborhoods)! If you don’t already have trees in your front yard, consider planting one or two ASAP. A few fast-growing options include the Empress Tree, the Poplar, and the Sycamore. Tip: Flowering trees are an even better bet, as they can increase curb appeal while also providing shade and other benefits as well!
5. Convenience items – Another way to add value to your property is to consider: what would give my home an added level of convenience? Consider tech products like a smart thermostat, a video doorbell, or a built-in, programmable sprinkler system. These items not only make managing the household easier for new buyers, but they can also reduce utility costs – something everyone wants!
Extra bedrooms – Now we’re not asking you to spend thousands and thousands adding another room or floor to your house. Rather, think of ways you can repurpose other spaces in your home to serve as additional bedrooms. Renovate your attic, basement, or loft area. Consider staging your home office as a kids' room. Think of it this way: adding an extra bedroom can actually add tens of thousands to your home’s value, so if there’s any way you can make it happen, we recommend going for it!
6. HVAC Upgrades – Any upgrade to the HVAC system (including the ductwork or insulation) is a good move – especially if you live in a particularly hot or cold area. No one wants to pay an arm and a leg for utility costs, and a new AC unit, upgraded ducting or even just new weather stripping around the doors can help reduce these expenses and make your home more appealing in the long haul. Just make sure your realtor lists these upgrades on your MLS listing so potential buyers know about it from the get-go!
Forget replacing your floor or ripping out those old bathroom cabinets! You don’t have to break the bank to upgrade your home or increase its value. These simple, easy, and affordable projects can actually up your property value significantly, making it easier to sell and more profitable in the long run.
Do you want more advice on prepping your home to sell? Do you need help finding the perfect new home for you and your loved ones? Contact the agents at Keller Williams Boerne today. Our expert agents can sell your property, find the perfect new one, and walk you through the entire homebuying process from start to finish!