If you're thinking of remodelling or updating your home, you don't need to spend a fortune to add value to it. Find out what updates can really make a difference in your home's value.
Paint is cheap but can make a big difference in the value of your home. You might love your turquoise dining room, but most buyers won't. Repaint your home interior and exterior in neutral shades for an inexpensive and stylish update.
Buyers want an updated kitchen. If you can afford a total remodel, one of the easiest ways to upgrade your home is by installing new appliances and light fixtures. Keep in mind that most buyers are looking for stainless steel, chef-quality appliances in the kitchen. Also spend a few hundred dollars on changing out your kitchen faucet and cabinet door handles. If your cabinets themselves are a mess, consider refinishing or replacing the door fronts instead of installing whole new cabinets.
After the kitchen, the bathroom is probably the most important room to update for your home's value. And fortunately it's usually pretty inexpensive to do. Replacing an old sink or toilet is very simple for homeowners to do themselves. If you have more money to spend, replace the aging tub and shower — two of the most important things to home buyers.
If your carpeting is dingy, get it professionally cleaned. Some strategically placed area rugs will hide any wear and tear. If you can afford it right now, it pays to replace old carpets, because it's one of the first things buyers notice. When you replace flooring, choose an eco-friendly option — bamboo and cork floor or wood flooring that is reclaimed or responsibly harvested.
Plumbing and electrical
One of the biggest returns on your investment comes from updating your plumbing and electrical work. It's relatively inexpensive and very effective in increasing your home's value. With over a 250 per cent average ROI, you'll be glad you did.
The first thing potential buyers see is the outside of your home, so good curb appeal is essential. Just by mowing your lawn, repairing gutters and adding a few well-placed shrubs, you can improve the curb appeal and value of your home. If you want to splurge a little, hire a landscaper and insist on drought-free plants — something that will add tremendous value to your home. Keep your walkway clean, and consider reframing your entryway if it's uninviting or out of date. Add a new door or at least new hardware and a new stain.