If you’re thinking of selling your home, you may be wondering how to ensure a top-dollar sale. After all, today’s active real estate market provides a unique opportunity to experience a significant return on investment (ROI) for updates and upgrades that you make to your space. Here then are the 22best ways to increase home value, no matter how much you have set aside for home improvements.
What home improvements add the most value in 2022?
One of the major trends that came out of the COVID-19 pandemic was an increased emphasis on outdoor spaces. This drove both a growth in demand for suburban and rural homes and an increase in outdoor dining, activity, and living space.
According to the most recent Cost vs. Value Report from Remodeling Magazine, value-added exterior renovations included siding replacement and wooden deck additions. The National Association of Realtors (NAR) Remodeling report found that garage door and entry door replacements also had a significant impact on resale value. These outdoor updates can provide a major bang for the buck since they not only improve the appearance of the home but also add additional security while being part of a fully integrated smart home upgrade.
How can I add value to my house in 2022?
Depending on the amount you have to spend, there are many cheap ways to increase property value without breaking the bank. In fact, some DIY improvements can be accomplished for little or no money – just time and elbow grease.
Minimal or no-cost home improvements
1. Staging consultation: Talk to your real estate agent or their affiliated staging consultant about ways that you can enhance the look of your home for little or no money. Often, simply rearranging a room can improve its flow and appearance. In addition, you may be able to use decorative items you already own in new ways to upgrade your home’s aesthetic.
2. Carpet removal: If you have carpet on top of your hardwood floors, removal can be a simple weekend warrior project. Take your time with this home improvement in order to avoid damage to the floors and be sure to keep the area well-ventilated to cut down on inhaling dust and debris.
3. Wallpaper removal: If you have old-fashioned wallpaper in a kitchen or bathroom, you may find that taking it down will immediately update the appearance of the room. Homemade solutions of fabric softener or vinegar mixed with water are often just as effective as store-bought removers.
4. Popcorn ceiling removal: If you are sure that you do not have asbestos or other toxic elements in your popcorn ceiling, this is a DIY home renovation that can pay off big-time. Be sure to cover your furniture and carpeting well and wear protective gear to keep from inhaling the dust.
5. Needed cosmetic repairs: Simply going around your home with a toolbox and doing some small repairs can make a big difference in the way your home shows to potential home buyers. Replace lightbulbs, oil squeaky door hinges, and patch holes or tears in the drywall to instantly refresh your space.
6. Fresh caulk: Remove dried and discolored caulk around tubs, sinks, toilets, and windows and replace with fresh clean caulk.
7. Deep-down interior cleaning: Get out a bucket and some brushes and get to work giving your home a good old-fashioned scrubbing. Clean windows and window frames and throw open the home to let fresh air in. Have a few dollars to spare? Rent a carpet cleaner and refresh the rugs as well.
8. Storage area cleaning: Clean out the garage, closets, cabinets, and all of the storage spaces throughout the home. They’ll look that much bigger and better when a potential buyer peeps inside.
9. Powerwash hardscapes: Rent or borrow a power washer and refresh walkways, stairs, the driveway and any hardscape terraces or patios. This will give the home an instant lift and look great in photos and videos.
10. Exterior cleaning: Similarly, clean the outdoor surfaces and, if necessary, clean discolorations on the roof shingles or tiles.
11. Landscape improvements: Cut the grass, trim the hedges, and refresh the outdoor spaces. If you have a little extra pocket change, plant pots of annuals near the front door or add some fresh mulch to existing planting beds.
12. Decluttering and storage: The biggest bang for your buck will come from depersonalizing and decluttering throughout your home so that it looks clean and neat. If needed, move oversized furniture and boxes of tchotchkes and mementos to a storage unit or store with friends or family members until it’s time to move.
Low-cost home improvements (under $200)
Many of these are easy to complete and can be done on your own or with the help of a general handyperson.
13. Interior paint: Choose a neutral color and refresh the paint color as needed throughout your home.
14. Exterior trim paint and repair: Repaint cracked or missing exterior trim and check for wood rot. Replace wood as needed.
15. DIY outdoor hardscape with brick or gravel: All you’ll need is some level ground, a few supplies, and a good online tutorial to have a big impact on your outdoor space.
16. Mount a porch swing or add benches: Updated outdoor seating creates instant curb appeal.
17. Replace switchplates and outlet covers: Buy in bulk so that they all match throughout the home.
18. Paint cabinets and replace hardware: Take your time to do it right and you can give your kitchen and baths an instant makeover.
19. Update light fixtures: Hire a professional to help you with the first one and you can DIY the rest yourself.
20. Update interior door hardware: If your interior doors have mismatched knobs and hinges, pull the whole house together with this simple improvement.
21. Replace plumbing fixtures: Get rid of home builder-grade faucets and add instant appeal with this simple fix.
22. Add ceiling fans: A professional can install a new ceiling fan in no time for an update that also saves on utility bills.
Your budget may change depending on your local market, the quality of your contractor, the types of materials you choose, and the scope of the work. For example, a simple kitchen or bathroom upgrade becomes far more expensive if you’re changing the location of the major components or significantly expanding the space. Finishing a basement becomes far more expensive if you’re adding another bath or installing a fancy media room.
Compare bids from at least three contractors and make sure they include a detailed estimate of labor and material costs. Ask your real estate agent or broker for recommendations for trusted specialists in your area.
Once you’ve decided how to increase your property’s value, it’s time to start thinking ahead to the sales process. Whether you’re looking to buy a house while selling your own, or are just looking to sell, Dwellful is here to help every type of home seller. When it’s time to put your home on the market, you need the help of a highly qualified real estate professional like the ones you’ll find through Dwellful. Our agent finder matches you to top-selling listing agents who have the experience and expertise you need for your real estate sale. In addition, you’ll enjoy the peace of mind of our agent satisfaction guarantee plus cash back after you close.
“Cost vs. Value 2021: National.” Remodeling, https://www.remodeling.hw.net/cost-vs-value/2021/.
“Remodeling Impact.” Www.nar.realtor, 4 Oct. 2019, https://www.nar.realtor/research-and-statistics/research-reports/remodeling-impact.