When you invest in a home upgrade to deliver more market value, it is likely done with one major objective: to recoup expenditures when and if you sell. There are many ways to raise value -- from elaborate and expensive renovations and additions to simpler strategies that cost much less such as painting, regular maintenance, and making sure your residence is inviting and attractive in terms of curb appeal.
Although there are various levels in-between, here we will cover some of the least and most expensive changes you can make to provide ideas at both ends of the budget spectrum.
Improvements Under $100
- Seek professional opinions. Many real-estate agents offer this as a courtesy, but you will probably have to pay a consultation fee to a designer, whose standard hourly fee is normally less than $100. It’s worth it; you will get a wealth of ideas in an hour. Even small suggested improvements such as paint colors or furniture placement can go far toward improving the look and feel of your home.
- Look beneath the surface. Hire an inspector to conduct a thorough review of the structure and its systems to uncover overlooked problems that would show up in a home-inspection report. For example, small problems -- such as a hidden water leak -- can become big, expensive problems in no time; the longer you put off repairs, the more expensive those repairs will be.
- Simply paint. Freshly painted rooms look clean and updated and are one of the simplest, most cost-effective improvements of all. Choose neutrals as they appeal to the majority of homebuyers.
- Keep track of what you like. When remodeling on a tight budget, do-it-yourself projects are best. In lieu of hiring a designer, keep a file of remodeling and decorating ideas on the Web, in magazines, and on TV that appeal to you.
- Get an energy audit. Many utility companies provide this free service to their customers. You will learn how to maximize the energy efficiency of your home while you’re living in it and also how this is a valuable and marketable asset during a home sale.
Improvements $3,000 And Up
- Declutter and increase storage space. One thing homeowners can’t get enough of is storage space. For less than $5,000, consider upgrading your home's storage by adding custom shelving systems to a closet or garage. Go through your belongings and tidily store what makes the cut in a new organized closet or garage to max out your home's space and value.
- Focus on the floor. Aside from sprucing up a worn carpet, green flooring choices such as renewable, environmentally friendly bamboo are a hot trend. Besides being easy to keep clean, they also give your home an upscale tone. Green floors, of course, also are a big selling point to today's environmentally conscious homebuyers.
- Style up the concrete. Replacing cracked concrete areas is costly but for a substantially lower price you can choose to resurface in a multitude of colors and finishes. Maybe you would like a cobblestone driveway or a brick pool deck; any unique texture will be a huge improvement over standard concrete. You can bet potential homebuyers will take notice.
If you’re ready to improve and update any area of your home, pull your ideas together and meet with a professional renovator for any services you can’t do yourself. It’s always nice and encouraging to know any improvements you make now will pay for themselves in the future in most cases.
For some additional information, we like this link that features what can alter your home’s value -- for better and for worse:http://www.bankrate.com/brm/news/real-estate/buyerguide2004/increase-resale1.asp
Writing collaborated by Duane Johns (Advanced Renovations, Inc.) and Ginger Sprinkle @ nine dots branding & marketing company (firstname.lastname@example.org).