You don't have to spend a lot of money to increase the value of your property. In fact, according to a report published in Remodeling magazine, lower-cost home improvement projects tend to return a greater value.
Here's a list of low-cost procedures you can make to increase the value of your property.
Add Curb Appeal.
Although it sounds obvious, curb appeal is often overlooked. A few strategically placed plants, outdoor lights, or a new mailbox can make your property more inviting.
If you don't have a green thumb, consider hiring a professional to clean up your front yard, plant evergreen shrubs and install new sod. Also, you can spruce up your property's curb appeal through landscaping.
Update the Bathroom.
Since a bathroom is one of the most visited rooms in the house, it plays a key role in influencing the decision of a buyer or renter. Luckily, you don't have to spend much to improve a bathroom.
Simple updates you can make to your bathroom include:
- Changing the pedestal sink
- Getting a new toilet seat
- Polishing the mirror
Although subtle, these changes can make a big difference in the overall look of your bathroom.
Make your Kitchen "Sizzle."
When checking out a home for the first time, potential buyers also make a beeline for the kitchen. Some inexpensive improvements you can make to your kitchen include:
- Installing storm doors
- Replacing rusty rain gutters
- Repairing plumbing leaks
- Insulating the attic
- Refreshing the look of your stovetop and cabinet doors
- Assessing the storage space
You can also beautify your kitchen by installing a modern light fixture above it. For example, you can add downlights to illuminate different surfaces of the kitchen. You may also add an LED pendant light or sconces. The key is to make your kitchen look like a nice place to cook.
Improve Your Home's Lighting.
Lighting plays an important role in the overall look and feel of your house. You can get an eye-catching chandelier to replace traditional light sources in your living and dining rooms. Or you can add skylights, which can fill a room with natural light.
Going green can help you attract tenants who love the beauty of nature. Also, according to a study by IMT and the District of Columbia's Department of Energy and Environment (DOEE), high-performance green homes sell for a price that's 3.46% higher than their traditional counterparts.
Here's how you can make your home more eco-friendly.
- Seal cracks and leaks. This helps control the temperature.
- Install high efficiency appliances. Replace old appliances, like refrigerators, dishwashers, dryers and washers, with their "green" counterparts.
- Consider insulating your home. This can save 10-30% on energy bills.
- Consider getting a new water heater.
- Install a smart thermostat.
- Install a rainwater collection system to conserve water.
Adding new space can likewise increase the value of your property. The best, most cost-effective way to maximize space is to minimize clutter.
A clutter-free home generally looks larger and easier to clean. If you want to reduce clutter, the following are foolproof ways to do so.
- Donate things you don't need.
- Hold a yard sale.
- Use vertical storage and design solutions.
- Organize the garage like any other room in the home.
- Create built-in storage solutions.
Re-invent Your Interiors With Fresh Paint.
If you want to transform a room, one of the best ways to do so is via a paint job. The best part is you don't need to paint every room in the house to add value. If you can't do it yourself, hire professionals.
Use colors that are calm and neutral. Add colorful soft furnishings (cushions, curtains, throws or towels in the bathroom) to complement the paint. Rearrange your furniture to complete the look.
And that's it: a few of the low-cost procedures you can make to increase the value of your property. These improvements will not only increase your property's value, but also ensure that your property attracts new renters if you're looking to lease your home.
Author Bio: Stephen Fox is a digital marketing consultant and co-founder of Upkeep Media. Upkeep Media specializes in working with the real estate industry to improve their organic search, content marketing, Google Ads, and social media marketing. He also holds a number of online certifications and is a CPA. If you're interested in working with Stephen you can contact him via email at firstname.lastname@example.org.
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