You don't have to spend $80,000 on a kitchen renovation or $50,000 on a new roof to give your property's value a solid, sustainable boost. Smaller projects that you can do yourself will have an immediate positive effect on the value of your living space whether you're in a house, condo, or apartment. Not only do these projects cost significantly less than hiring professionals for large-scale maintenance, but they allow you, the homeowner, to keep a pulse on the maintenance needs for your house.
Make the Master Bedroom a Master Suite
Master bedrooms do not cut it in today's real estate properties. Whether you have apartments for rent or a house you live in, building a master suite will increase property value and enable you to charge a lot of additional rent (should that be your goal). Walk-in closets are a must for young home-seekers and are usually a cheap project when bedrooms have the space available. Another cheap DIY effort is providing a "lounge area" in the master bedroom. This can be as simple as a space with a chaise lounge, but individuals will visualize this space as a place for them to enjoy a book or their morning coffee. A more expensive addition, but very profitable, is creating a spa bathroom attached to the master bedroom. A bathroom with a luxury tub and "his-and-her" sinks demand a premium in today's market and further assist your property's ability to stand out.
Create Curb Appeal: Landscaping and Hardscaping
To immediately differentiate your home from other in your neighborhood, focus on it's external appearance. Whether it means installing a custom walkway or planting some colorful foliage, this shows that you take pride in your house and its maintenance. Landscaping and hardscaping usually cost as little as the tools and sweat equity invested to get the job done. Local plants can usually be found free of charge in the spring, when perennials are splitting. These perennials usually require little maintenance and will complement the color of your house. To complement your house's structure and design, choose decorative materials for pathways.
Update the Bathroom(s)
A few small improvements in bathrooms can be a very efficient way to spend your money. Replacing dated wallpaper with a neutral-color paint will appeal to a large array of potential buyers while giving your apartment or house a more modern appeal. Crown molding can give bathrooms an elegant twist and usually doesn't require much to get the job done. Keep an eye out for clearance items like vanities, mirrors, and light fixtures at your local home improvement store. If you can get a good deal, these can seriously ramp up a bathroom's decor.
Open up the Living Space
Today's home buyer looks for living space that is bright and inviting. Knock out unnecessary interior walls to give a room an airy feel and increase natural lighting. While projects like this may be more difficult in a multifamily property, those in an apartment or condominium can replicate this effect by installing larger, additional windows. By focusing on creating a more open living area, potential buyers will find it easier to plan and visualize themselves in the space.
Have a Good Kitchen Layout
When people go to an open house to check out a property, the first place they visit is always the kitchen. The kitchen is, undoubtedly, the most effective room in the house to invest your income. When most people think about upgrading their kitchen, they are inundated with ideas of granite counters, stainless steel appliances, and stone tiling. The most important factor in a kitchen, however, is it's layout. DIY Network describes the "Triangle", the paths between your stove, dishwasher, and sink, as the best way to determine how well your kitchen flows. Good kitchen layouts never become outdated. If your kitchen has a solid framework, substituting new counters, appliances, or cabinets is easy.
