Cheap Ways to Boost Your Home's Value
Spring is around the corner and for some this means putting your existing home on the market. Take the time now to make a punchlist of the things you need to focus on to improve your home's value. Here is a list of 5 things you can do to win the hearts of future buyers.
- Paint-One fresh coat wipes out the scuffs, chips, cracks and other damage that clearly convey wear and tear.
Make your first priority the front door, where everyone from visitors
to potential buyers lingers. Next, go inside; don't forget to freshen up the baseboards, doors and ceilings after you tackle the walls. Cost: about $60.
- Basic Maintenance-A common mistake: making aesthetic upgrades while ignoring basic maintenance. If you don't address these problems before putting your home on the
market, it'll cost you. Buyers traditionally negotiate a $2 discount
for every $1 in damage that turns up in a home inspection, according to
home inspection service HouseMaster. Not sure where to start? Hire a home inspector to point out which areas would be problematic were your home on the market. Cost: about $250.
- Energy-efficient Upgrades-Energy-efficiency projects such as installing Energy-Star windows or swapping for a high-efficiency furnace or A/C unit are one of the few upgrades that hold their value in a down market. Not only will such improvements cut your energy bills, but they'll also
be more attractive to buyers who are hunting for more earth-friendly
homes. Add insulation in the attic, garage and around your water heater and take the time to seal up all air leaks. Replacing your light bulbs with energy saving CFL's can also provide added value. Cost: about $100-$5,000.
- Install New Fixtures or Hardware-Giving a room a more modern look requires little more than a screwdriver and some new fixtures. New drawer handles or knobs can be had for as little as $2 each. You might also try swapping out ceiling-mount light fixtures or doorknobs.
- Landscaping-Your carefully groomed landscaping — or, in contrast, weed-overgrown
jungle — is one of the first things a potential buyer notices. You'll score
more points with a yard that was obviously fixed up long before you
listed your property. Drought-resistant shrubs require less water, while perennials won't
require repeat plant purchases in coming years. Leafy deciduous trees
shade your home from the hot summer sun, and allow maximum heat
transfer inside during cold winters.