9 Budget-Friendly Ways to Increase Your Homes Resale Value
If you're looking to put your home on the market soon, you no doubt want to get as much as possible out of your investment. However, not everyone wants to break the bank in upgrades on their property. So we've come up with a list of nine budget-friendly yet simple upgrades to increase your home's resale value.
1. Clean the carpets and replace them if necessary
Cleaning or replacing carpets can be a great way to add immediate and long-term value to a home. Carpets provide insulation in the winter and summer, so being clean is important. If you have older, dingy carpets, it's not a bad idea to replace them either. Remember, you can always go bigger after your home sells!
2. Upgrade the window treatments
Window treatments are another inexpensive remodel that can drastically change the value of your home. One major difference between window treatments is the potential return on investment. With drapes, you're probably looking at a small return rate, but installing custom shutters as window treatments can impact the resale value significantly. That's a huge return on investment.
3. Add storage to your home
In every room of the house, from basements to bathrooms, homeowners want more storage space. Sellers should remember that buyers WILL need storage space and will be less likely to purchase a property that doesn't have it. Adding built-in bookcases or cabinets can give you more storage space for little money.
4. Install a water filtration system
This upgrade is ideal for buyers who purchase bottled water regularly. This feature alone will save them time and money, which is definitely something they'll be thankful for in the future.
5. Add crown molding to increase value
Crown molding can add a certain regal look that buyers love. Installing wood trim around doorways and cabinets will also help your home seem more spacious and is an upgrade most will notice immediately when viewing your property.
6. Maintain, maintain, maintain
If you're looking to sell your home and haven't spent a few weekends sprucing up the exterior and interior of your property, it's time to clean things up. Putting in a little extra elbow grease will increase your home's resale value by showing buyers that you take pride in your home.
7. Install a solar water heater
Not only does this reduce your electricity bill, but it can also increase the value of your home if you plan to sell soon. A solar water heater will be an appealing feature to buyers, especially those who are conscious about their carbon footprint for the future.
8. Add outdoor living space
A deck, patio, or porch is a great way to extend your living space, provide extra storage, and improve curb appeal. Edging the outdoor area with mulch or rocks gives it an even nicer look while simultaneously amplifying its appeal to potential buyers. Another bonus? A deck or porch can also help you sell your home quickly during warmer months.
9. Add more bathrooms
Buyers are always on the lookout for homes with extra bathrooms. A luxury many don't have in their current home, adding another bathroom gives buyers more options when washing up or using the facilities without getting out of bed in the morning. Of course, if you're not interested in installing an additional bathroom on your property, you could always add a powder room.
The final word on increasing resale value
When it comes to increasing your home's resale value, there are plenty of affordable upgrades you can make to any home. However, focusing on making small changes that will improve the overall look of your property is a good place to start if you're looking for ideas on increasing the value.