With homes flying off the market at record prices, many homeowners are considering taking advantage of the strong seller’s market and dropping a sign on their lawn. If you are one of those homeowners, you may also be wondering what you can do to boost your home’s value before putting it on the market.
There are simple and cost effective ways to make your home more saleable without breaking the bank. Before you start swinging your hammer, keep in mind that you will likely run into unforeseen expenses. It is best to keep 10% of your overall budget aside to cover unexpected costs.
Consider these 6 simple and inexpensive projects to boost your home’s value and increase your chances of selling your home:
FRESH WALL PAINT
A fresh coat of paint will transform the interior look of your home. Stick to neutral colours that will appeal to potential buyers. If you have wooden panelling or dark, dated trim and doors, consider freshening them up. Painting will provide the most bang for your buck. A gallon of decent quality paint will range between $40-60 and brushes and drop cloths are generally inexpensive to purchase. Painting does require time and patience, but it pays off.
PAINT KITCHEN CABINETS & REPLACE HARDWARE
If your kitchen is a collection of avocado greens, iconic 70s “Harvest Gold,” and dark brown wooden cabinets, it is best to roll up your sleeves and start painting, especially if you plan on selling in the near future. Painting cabinets in a modern shade is cost effective and will impress potential buyers. Remove old hardware and hinges and replace them with modern ones to fully complete the transformation. Potential buyers will be grateful that the work has been done for them and that their new kitchen is crisp and clean. A high-quality acrylic paint is a great choice and you will not have to dig too deeply into your pockets. Hardware costs range depending on quality but you should be able to purchase new pulls and knobs for as little as $8 or $10 each.
REPLACE KITCHEN BACKSPLASH
If your backsplash reminds you of a bygone era, you may want to consider a budget-friendly upgrade. There are plenty of inexpensive options that are simple to install. Investing in a new backsplash will make a dramatic difference to the look of your kitchen. Although it is possible to paint your backsplash, there are many other ways to modernize this part of your home. Waterproof wallpaper, shiplap and beadboard are all excellent options that are quite easy on the pocket book. Crisp white tongue and groove panelling is another great option if you prefer the vibe of a modern farmhouse. For a less conventional look, chalkboard backsplashes offer a place to write notes, grocery lists and recipes.
SPRUCE UP YOUR DOOR
Improving curb appeal is an important part of making a buyer fall in love with your property. Aside from cleaning up the garden beds, front porch and walkways and mowing the lawn, you can boost your home’s appeal by painting the front door. A good sanding, coat of primer and fresh exterior paint creates a welcoming atmosphere. Consider adding a new mailbox, exterior light and door knocker (if it is a fit for your home’s style) to really wow buyers. If you have a garage, freshly painting the garage door will improve its look and that of the whole home.
BATHROOMS
Inexpensive bathroom updates can increase value. A fresh coat of paint, accessories and tasteful artwork can spruce up a drab space. Although neutral colours are recommended for larger spaces, smaller rooms like bathrooms offer the opportunity to have a little fun with colour. Colourful pops of colour pack a dramatic design punch. Don’t be afraid to pick a bold colour and accessorize accordingly. Update and upgrade low-cost items like towels and towel bars, shower curtains, bath mats, mirror and light fixtures and top it off with an elegant piece of artwork.
REPLACE YOUR WINDOW TREATMENTS
If your window treatments are a little tired or the slats of your blinds are warped or bent, it may be time to shop for some new window treatments. There are beautiful and cost effective window treatments available for all budgets. Don’t forget to add an elegant hold-back that will give your new curtains a sophisticated look. Installing new curtain rods or finials will add flare to your window coverings. A window can be completely re-dressed for as little as $100.
Simple and cost effective improvements may increase your home’s value before you put it on the market, which will translate into more money in your pocket.
Thinking about Buying or Selling your Home?
Or you have questions about your home’s value?
