If you own a home, it’s likely your biggest and longest-term investment. Whether you’re sprucing up your home to sell or planning a renovation for personal reasons, even relatively minor changes can net you some big gains in home value. So what areas should you focus on to get the most efficient return on your reno dollar? Here’s how to make smart home investments and avoid fixes that can fall flat.
DO: Install an energy-efficient steel door. Selling your home is all about making a good first impression, and first impressions start at the front door.
DON’T: Install a fiberglass front door. The higher cost won’t mean a higher sale price.
DO: Add a spare room. Converting unused basement or attic space into an extra bedroom opens your home to exponentially more buyers.
DON’T: Add an extra bathroom. Plumbing, wiring and tiling make these small spaces extremely expensive add-ons. (However, if your home has only one bathroom, adding a powder room can be a major selling feature.)
DO: Paint. The cheapest and easiest way to refresh a room is with a new coat of paint. If you do it yourself, the only cost will be for paint and brushes.
DON’T: Wallpaper. Anyone who’s had to remove old wallpaper knows what a dreadful task it can be.
DO: Replace cabinet hardware. Changing the handles in the kitchen and bathroom is a cheap and easy way to add some flair.
DON’T: Remodel your home office. Many buyers will look at built-in shelving and desks as something they’ll have to spend money on converting back to a bedroom.
DO: Landscape your property. A mix of hardy perennials and some vibrant low-cost annuals will give your home that all-important curb appeal.
DON’T: Install an in-ground pool. Many buyers will balk at the ongoing maintenance and be fearful of long-term repair and replacement costs.
DO: Make minor repairs. Scour your house from top to bottom for chipped paint, missing or cracked outlet covers to replace and so on. These low-cost DIY tasks will reap untold rewards.
DON’T: Add a sunroom. They’re expensive to install and, when dated, buyers will be leery of the cost of replacing aging windows.
DO: Upgrade your appliances. Energy-efficient ones may qualify for a tax credit or rebate (check out this state-by-state directory of available energy incentives), and you’ll cut back on your utility bills for as long as you’re in the house.
DON’T: Add a backup generator. While the peace of mind may help you weather any storm, buyers typically will not pay a premium for this addition.
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Read more: 9 Garage Upgrades That Could Increase Your Home’s Value
By Allan Britnell
Thanks for sharing this wonderful and informative blog. These are a fantastic approach to modernize your house on a tight budget. Your advice on home renovation is excellent and will undoubtedly be helpful to those who wish to renovate their homes in future.
Grace Montanye says,
I really like your home improvements and renovation tips. You have told me well what should we do at the time of home renovation. It is good advice for me and who wants to renovate the house. Thanks for sharing this.
I thought everyone of the tips were very informative especially for women that are widows or ones that don’t have a man around. They will be able to do some of the things themselves. Very helpful information.
Robert Owen says,
I guess these suggestions have to be generic for the whole country but I wouldn’t look at a house in Houston Texas that doesn’t have a backup generator. The alternative is portable generators that are unreliable, very noisy and requiring the storage of large quantities of gasoline.. The power goes out in Houston if anyone sneezes and can be out for days/weeks following a storm. We didn’t get power back for over a month following hurricane Harvey and we live inside the city limits.
Robert is right. In Houston a back up generator is a huge selling point. You will likely get back 100% of your investment, believe it or not.
Kevin Carbone says,
Thanks for the auto and home ideas and reminders.
Dayna Whichard says,
These are the great way to update your home in a limited budget. And I agree with smart home investment during repair. Thanks for sharing this useful information.
Really great guide. I agree that simple things like scouring your house top to bottom for chipped paint, etc. is a great way to spruce things up.