There are countless ways to boost the resale value of your home. The trick is finding just a few methods that suit your particular property, don’t break the bank and can be completed rather quickly. When you opt for an improvement that doesn’t cost a fortune, there are all sorts of creative ways to pay for an upgrade. Many homeowners tap into savings, sell an extra car they no longer need or turn a dormant life insurance policy into cash by offering it to life settlement companies. If your home’s sale date is on the near-term horizon, you’ll be getting most of the money back when the deal is done. Here are the four most efficient ways to increase the market value of your home:
Upgrade the Kitchen
According to real estate experts, a simple kitchen upgrade is the single most potent way to ramp up a home’s dollar value. For reasons known and unknown, the first thing prospective home buyers look at is the kitchen. Even if you house is so-so in other areas, a new kitchen will bring in offers. The smart way to do a kitchen upgrade is to research trends in your local area, estimate costs carefully and get at least three quotes on the job from reputable contractors. If you have the know-how, you can do the job yourself, but there’s always risk involved in DIY upgrades so consider hiring a pro when it comes to improving lighting, cabinets, flooring, and countertops.
Install Windows That are Energy-Efficient
This home upgrade is getting more and more popular each year. Just a decade ago it didn’t appear on any of the “top ten” home improvement lists. Now it’s at or near the top of every expert’s recommendation for adding value to a property. One reason is this: window technology has greatly improved and the new-generation units can cut a home’s utility bill by up to 40 percent. Home buyers know this and place a very high value on windows that will save them money month after month.
Pro tip: If you can afford it, plan to replace all the windows in your home. Real estate experts say that one of the easiest ways to win over undecided buyers is to brag, “Every single window in this house is an energy-efficient unit.”
Re-do One or More Bathrooms
After looking at the kitchen, prospective home buyers always examine bathrooms next. That’s why the second most popular home upgrade is a bathroom re-do. If you can swing the cost, try to have every bathroom redone in a similar style. Selling agents say that buyers are impressed when all the home’s bathrooms match up in terms of decor, color schemes and themes.
Add a Deck
This is one of the add-ons you can do yourself, but if you’re not highly skilled it’s best to hire a professional. A deck addition can also be a very low-cost way to add some quick value to your home. Local contractors can finish the job in less than a week and you don’t need to get too creative with financing to pay for the job.