There are several home renovation projects that can increase the home’s value substantially. For example, finishing the basement and transforming the attic to a living space all add value to a home. Unfortunately, both of these projects have high costs even though they offer a high return on investment (ROI).
Homeowners who are in the market to sell their home could increase the cost of their home with a few simple changes. Here are 10 ways to revamp a home to sell it faster (hopefully), make it more desirable and not break the bank with those changes:
- Install hardwood flooring
- Freshen up the walls
- Add new décor
- Update outdated rooms
- Install molding
- Declutter and clean
- Ditch the dark colors
- Install mood lighting
- Check the curb appeal
- Focus on energy efficiency
Hardwood Flooring Adds Value
According to HouseLogic, installing hardwood flooring offers a great ROI. While the project might cost around $5,500, the ROI is 91 percent. What homeowners invest in the project, they might completely recoup when selling.
Freshen Up the Walls
A new coat of paint can freshen up a room. That new paint also can make the home look more inviting, cleaner and more appealing to those touring the home. Repaint the rooms in the home to give every space an instant face lift.
Add New Décor
Staging a home can involve adding new décor to a room to make the home more inviting. Ideally, each room should complement and blend into the next room. Add pillows to a couch or a throw blanket. Coffee table books could add an element of artistic interest. Swap out the art on the walls for something new and more modern or appealing. Even the bathroom can include a few new items or classy updates (like new towels) to make it a more inviting space.
Update Outdated Rooms
A 70s kitchen might look more kitsch than cool. While homeowners might not have the budget to fully revamp an outdated room, try to create a more modern space by choosing new paint colors for the wall, décor, etc. If new appliances are in the budget, opt to replace old and outdated models with something more modern.
Crown moulding and other accents can create visual interest on walls and add contrast, too. These wood details also look elegant and classy. Homeowners can opt to install these accents as a DIY project or they might use a pro. According to Bob Vila’s site, this project costs on average $1,218—however, some homes might cost more (or less) to update.
Declutter and Clean
Clutter, junk and debris can shrink any space. One of the easiest ways to make a room and a home look more inviting (and open up the space) is to declutter. Remove furniture pieces that aren’t needed. Put toys and other items in closets and organize the closet to help potential buyers better understand how much space the home offers. A deep cleaning also can make spaces feel much fresher and more inviting.
Ditch the Dark Colors
Dark colors on the wall and floor can shrink a room. Dark colors close in a space and make it appear smaller. Open up the room by choosing lighter colors for the wall. Even if floors are darker, those light walls will create a seemingly larger room.
The lighting for a room can make it seem more inviting and comfortable. Harsh, bright lighting can be distracting for buyers. Homeowners might opt for softer lights. In addition, they also could upgrade light fixtures to create interest. For example, a new overhead light with unique details could add artistic appeal to the room. Don’t underestimate the power of lighting.
Check the Curb Appeal
The home could look immaculate inside. Every room could be repainted; maybe the floors are all hardwood. However, the exterior—not the interior—of the home leaves the first impression on the buyer. How does the home look from the street? Homeowners could repaint the exterior or update the landscaping to add curb appeal to the home. Remove any clutter (like toys) and mow the lawn, too.
While homeowners might think that a unique landscape could boost their home’s value, some homeowners might be distracted by complicated landscaping. They could view it as an additional cost for the home.
More buyers might want a home that’s energy efficient. Homeowners can start making changes to their home to increase energy efficiency. Use smart plugs or smart power strips to connect appliances or gadgets to the Internet of Things. Install smart LED lights, too.
Homeowners also can upgrade outdated appliances to energy efficient models. However, the cost for a new appliance might not be in the budget.
If homeowners are concerned about the energy consumption of their home, they can conduct a home energy audit. Homeowners can hire a pro or use the benefyd app to find all the ways to save money and increase the energy efficiency of their home. Homeowners who make significant changes to their home can pass these home improvement details on to their REALTOR®; some changes might even boost the value of the home and increase the appeal of the home, too.