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5 Money-Saving Hacks To Increase Your Home Value

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5 Money-Saving Hacks To Increase Your Home Value

Trying to improve the value of your home can seem like a daunting task. Determining not only how many improvements needs to be done, but what you actually can afford is difficult for a first-time renovator. On top of that, how will you know what changes have the biggest impact on home value?

Binging every episode of "Property Brothers" and scoping out your local Home Goods isn’t going to give you all the insight you need for this project. However, there are many small and inexpensive steps you can take to increase the value of your home.

Below, we detail five easily accessible hacks to home improvements that make the largest impact on the value of your property.

1. Consult An Interior Designer

Whether your budget allows for an interior designer or not, consulting one through a preliminary assessment can be of great benefit. These appointments typically run about $200-$300, according to Home Advisor, and can give you design ideas you may have missed from your own research.

The designer will get a better feel for what your home needs by physically being there. You also can ask specific questions based on your home’s design.

2. Utilize Neutral Colors

Neutral colors are great if you're looking to put your house on the market soon. When potential buyers visit, it’s easier for them to visualize the living space as theirs if the colors fall in a more neutral color scheme. These colors both enlarge your space and allow the imagination to run freely with what the room could be, says Open Door. Neutrals are cool, classic and inviting.

If your home is a bit older and suffering from the all-blue color fad of the 1970s, it might be off-putting to potential buyers. Not only do they have to redecorate the entire room, but it’s hard for them to see the potential in what it could be.

3. Think About Curb Appeal

Only caring about what’s on the inside is a great mantra for finding your soulmate, but not increasing the value of your home. If you want to make home improvements that count, you’re going to have to think about the curb appeal of your property.

According to USA Today, there are small, yet effective, changes you can make include to your home’s exterior. These include replacing patchy grass, planting a new tree and adding green shrubbery that doesn’t take much maintenance to keep up.

Some experts recommend taking a photograph of your house, changing the composition to black and white and then inspecting your home. By doing this, you’ll be able to see any clear cracks or dents that need to be fixed in terms of outer cosmetic work.

4. Maximize Your Space

Design the layout of each room to make the most of the space you have. If there is any clutter, look into shelving units or designating a space for items that typically lay around.

Get rid of any clunky furniture or heavy curtains that take up too much space or limit the amount of light coming into the room. Cover your windows with thin shades or curtains that easily let light in and can be adjusted. Look into installing wall mirrors or a large floor mirror to give the illusion of a bigger room, says HGTV.

5. Focus On The Bathroom And Kitchen

If you're strapped for cash and, after figuring out your budget only have the ability to focus on a room or two, your best bet is the bathroom and/or kitchen. These focal points of the house are very important for potential buyers as they're areas that need to be functional and personalizable, according to Forbes.

Do your best to make renovations focus on a neutral color scheme and fixing anything that doesn’t work in these spaces. You can replace faucets, pipes, stovetops, flooring, appliances, countertops and lighting for changes that are cosmetic, practical and attractive to buyers.

Posted-In: Education Personal Finance General Best of Benzinga

 

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