If you’re getting your home appraised in advance of putting it up for sale, you may be concerned about the current value of your home, especially if you’ve performed only minimal renovations since your initial purchase. Unfortunately, the desire to sell for a higher price than your purchased at tends to lead homeowners to make unwise improvements – pouring in far more money than they can get out of the renovation.
To earn a higher appraisal that’s financially beneficial, you need to think value, not sum total, when choosing your renovations. These five low cost, high value improvements can help improve your home value without breaking the bank.
- Fresh Paint
It’s simple, but a quick coat of paint is one of the least expensive ways to boost the value of your home because it makes rooms look clean, new, and well cared for. Just be careful to choose neutral tones with broad appeal, generally whites and tans. If you choose colors that are too bright or distinctive, it may drive down the value of your home, since potential buyers can view these colors as a nuisance or just another thing they’ll need to change.
- A Sturdy Door
Do you still have an old wood front door, or maybe a steel door that’s showing its age? Consider installing a new steel front entry before your appraisal. It’s a fairly inexpensive project in the realm of home improvements and can earn you back more than 90 percent of what you spent when it comes to the appraisal. That’s more than you’ll get from most larger projects.
- New Siding
Like a new front door, new siding is all about home appeal. If you’ve replaced your siding fairly recently, you can get away with a good power washing, but for older siding, a full replacement may be necessary. Go ahead and replace your home’s vinyl siding before your appraisal – this can be pricy. Yet, it will be reflected in the appraisal and will come as a great reassurance to the buyer that they won’t have to shell out money to replace aging siding in the next few years.
Remember, as with paint colors, choose a neutral tone, but in this case, steer clear of white. White shows dirt, but tan or taupe can disguise it, reducing the labor necessary to keep the home looking neat.
- Add A Deck
People love having an outdoor gathering space, so if your home has the space, consider adding a deck or patio. The costs and labor are fairly minimal, and depending on how handy you are, you could even install these yourself. Just don’t forget that if you install one of these spaces, you’ll need to stage it as you would the inside of your home to make it look appealing.
- Update Your Fixtures
Although they may be clean and functional, brass kitchen and bathroom fixtures went out of style with the 1980s – yet for some reason, many homes still have them. Luckily, fixtures are fairly inexpensive and you can swap yours out without going over budget. Most cabinet handles start around $2 and you can get new plumbing fixtures for about $50. Your bathrooms and kitchen will look so much better without the brass details.
All of these projects are simple, high value, and way less expensive than renovating your kitchen or adding one of those popular second master suites, so see what you can get done before your home appraisal.
Categories: Real Estate