Like most homeowners, the fear that you might not sell your home fast or for the right amount, especially if you want to sell a house after buying it, is real. Things become more real if you start thinking of the inspectors’ report and what potential buyers will make of your home. Fortunately, there’s some relief knowing that some architectural changes and home improvements can attract potential buyers and increase property value.
However, while large-scale renovation projects certainly increase property value and marketability, the costs can break the bank. Besides, payback for large projects isn’t guaranteed. Prospective buyers may also not like the new changes. You should avoid this by focusing on low-cost improvements that can expedite property sales and increase value without costing much.
Should You Renovate Your Home Before Selling?
Making architectural changes in your primary residence is one thing, but spending on renovations before selling and moving out is another. Generally, choosing the right renovation project attracts more buyers and increases property value.
A 2020 survey by Coldwell Banker found that over 80% of potential buyers prefer homes they can readily move into properties that require renovation. Homeowners should expect more offers and a better price if their homes attract more buyers. However, before delving into remodeling, you should understand what potential buyers want.
Low-Cost Home Improvements to Make
Below are the top low-cost home improvements to make before listing your home for sale:
1. Clean and Paint Walls
Freshly painted walls are undoubtedly naturally attractive. Clean and updated exterior walls are also alluring. Unlike other costly home improvement projects, you only need to scrub or paint the walls. However, you should choose the right tools and cleaning agents for impressive results.
You should also choose the right paint color and type. Figures from a recent Zillow analysis found that homes with blue and gray paint colors sold above the expected price. Similarly, light blue kitchens, bathrooms, dining rooms, and bedrooms and brown or beige living rooms increased home value by over $1000. You should consider these colors to attract more buyers.
2. Kitchen Facelift
Homeowners and prospective buyers prioritize the kitchen for various reasons. Inexpensive cosmetic upgrades can improve the appearance of your kitchen, increasing marketability and property value. An extensive kitchen renovation might sound appealing, but it is expensive and doesn’t guarantee ROI. The following low-cost kitchen upgrades can improve resale value:
- Paint job – Kitchen cabinets, baseboards, moldings, and kitchen trims can benefit from a fresh coat of paint. Consider tones of blue color when repainting your kitchen.
- Replace old kitchen appliances – Replace outdated microwave ovens, dishwashers, and other kitchen appliances. This makes your kitchen appear functional.
- Depersonalize your kitchen – Remove personal photos, art, and religious and political décor from your kitchen. This allows prospective buyers to envision themselves in the kitchen.
- Clean kitchen countertops – Repair cracks, grout issues, and nicks in your kitchen countertops. If necessary, replace old and worn-out countertops with granite options.
Replacing outdated cabinets and drawers and adding tiles to spruce up the backsplash are other inexpensive kitchen upgrades to consider.
3. Upgrade the Lighting
You should consider replacing dull and recessed lights with better lighting options. Swap out aged light bulbs with new, energy-efficient bulbs and light fixtures. Upgrading your lighting systems is an excellent way of making your home energy-efficient, a feature most prospective buyers desire.
Apart from chandeliers, which are increasingly becoming common, consider installing lamps and light fixtures, such as desk lamps, accent lighting, tread lighting, and cabinet lighting. Ensure that your blinds and curtains don’t impede the beauty of natural light in various rooms. Exterior lighting, specifically landscape and path lighting, is crucial in creating a welcoming first impression.
4. Simple Landscaping
Though not ideally an architectural improvement, landscaping gives an impressive first impression. A National Association of Realtors survey found that more than 71% of prospective home buyers prioritize curb appeal. Fortunately, the following inexpensive projects can improve your curb appeal:
- Mowing lawn regularly
- Adding color to your landscape using seasonal flowers, perennials, and annuals
- Removing weeds, watering right, and aerating the yard
- Planting deciduous trees, such as red oak, dogwood, and tulip tree
- Edging and mulching the lawn for an attractive appearance.
While they appear simple, yard activities can prove challenging, especially for beginners. Fortunately, you can hire a professional landscaper for a few hundred dollars.
Most low-cost home improvements can change buyer perception and increase property value. Besides, they won’t drain your pockets as extensive renovations would. Focusing on these projects improves the appeal of your home and makes it energy efficient. These are important selling points.