Top 5 Cost-Effective Home Improvements to Increase Value

Top 5 Cost-Effective Home Improvements to Increase Value

Your home is one of the biggest investments that you’ve made, so whether you’re looking to sell your home right now or considering selling in the future, it makes sense that you’d inquire about increasing its value through home improvements.

While there is no magic formula for getting the highest return on your investment, there are financial decisions that are smarter than others when you’re focused on getting the most bang for your buck. And depending on how soon you’re looking to sell your home, you’ll also want to take into consideration how long any given project may take to complete. Below we’ve listed the most cost-effective home improvements to add value without breaking the bank.

As you’re perusing the suggestions below, keep in mind that one of the most helpful ways to determine ROI for your home’s resale value is to partner with a real estate agent who can provide guidance based on his or her expertise in home sales in your area. In fact, we recommend this be your first step in the process. Coldwell Banker is not only a leader in the real estate market that has been around for over 115 years, but they’ve also earned the prestigious Women’s Choice Award for being a highly recommended real estate company by women across America, so you can hire a licensed real estate agent in your region as soon as you’re ready!

New Garage Door
 

When you think home renovations your mind tends to go to kitchens and bathrooms, but buying a new garage door can make a significant impact on curb appeal, and won’t cost nearly as much as a new kitchen or bathroom remodel. There are so many beautiful garage doors to choose from in such a variety of styles and colors that the possibilities are endless. Plus, depending on the area (like hurricane-prone Florida), choosing newer high-impact doors can save you money on your insurance costs.

Kitchen Renovation

Kitchen Renovation

It’s not always ‘go big or go home’. Repainting or refacing your cabinets can make a big impact. And if you combine that with updating the fixtures (think faucets and cabinet handles), as well as redoing the backsplash with new tile or stone, you can get the look of a new kitchen for a fraction of the cost. But be sure to ask an experienced real estate agent like the professionals from Coldwell Banker, as they’ll be able to tell you what buyers are looking for in your area. Don’t forget to consider lighting as well, which kicks things up a notch. You can have a handyman or electrician install high hat lighting in the ceiling, drop lighting over an island and under cabinet lighting to make a grand statement.

Deck Addition
 

Deck Addition

More than ever, being able to enjoy the outdoors has become a critical factor in finding the perfect home. That’s why adding on a deck is one of the most valuable investments you can make. It quite literally sets the ‘stage’ for an outdoor oasis, in which buyers can envision family gatherings or evenings outside watching the stars. Just remember that once the deck is complete you’ll want to consider a nice wood stain and some patio furniture to bring it all to life. You can even incorporate a fire pit and deck lighting to take things up a notch. S’mores anyone?

Landscaping
 

Landscaping

When it comes to first impressions, landscaping can make a grand statement when buyers pull up to your home. Not only is it an immediate visual appeal, but it also implies that your home is well maintained. What’s great about landscaping is that you can work around whatever budget you’ve set for yourself. With the help of a gardener, you can pick and choose how to prune shrubs, add low-maintenance foliage around the perimeter of the home, and select the annual or perennial flowers for a beautiful pop of color throughout. You can also incorporate mulch, pavers and landscaping rocks within or around your garden, driveway and walkways.

Painting ...But Not Just Any Paint
 

Paint packs a punch in the real estate world! Walking into a home with dark red or brightly colored yellow walls will certainly make your home more difficult to sell. Think of it this way, repainting your walls provides a clean canvas on which everything else is viewed-including the buyers’ imagination for how their lifestyle will fit in. But the great news is that it’s probably the easiest of renovations and the most cost-effective. In fact, you can even do it on your own. Grab some friends and family, a few pizzas, good music, and call it a painting party! Just keep in mind that new paint is only part of the equation. Choosing the right color for a general audience of buyers is what’s most important. While color trends come and go, you can’t go wrong with neutral shades: White; beige; or gray. Not only do these colors brighten up spaces, they also make rooms appear larger. Most importantly, it makes it effortless for buyers to envision themselves living in their new abode. 

One of the many benefits of having an experienced real estate agent in your area is that they tend to have a book of contractors that they will happily recommend for you to complete just about any project. And because these contractors value the recommendations from your agent, you can bet they’ll be more likely to give you honest and fair pricing. This eliminates hours of sifting through the internet to find the best local plumbers, architects, landscapers, contractors, painters, handymen...you get the gist.

And remember, when it comes time to put your home on the market, it’s like setting up the stage for a grand performance. You’ll want everything to look just right and in its proper place. This is where your experienced and licensed real estate agent will swoop in to get your home staged. In fact, check out these Staging Tips to Enhance Your Home’s Appeal from Coldwell Banker.

Look for licensed real estate agents in your area, from award-winning Coldwell Banker to get started.

Good luck, and remember to have fun with your home improvements! Proper planning and having a good agent by your side will help minimize the stress.

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