In my estimation, home improvements fall into two categories: large-scale renovations or smaller, do-it-yourself projects that spruce up a home or make it more comfortable. When you put your home on the market, one of the questions you’ll probably be asking yourself is whether the improvements you’ve made over the years have paid you back. In other words, have you overspent what you can hope to recoup when you sell your home?
While you probably aren’t going to see a complete payback from a $100,000 full kitchen remodel, there are plenty of smaller home improvements that will pay big dividends when you decide to put your home on the market. Here are just a few:
Energy Efficiency. By making changes to your energy profile, you will not only increase the resale value of your home, you will start saving on utility bills right away. Invest in a programmable thermostat, replace failing appliances with Energy Star versions, swap out incandescent light bulbs for compact fluorescent or LED bulbs, and switch to low-flow faucets and toilets. These small investments can yield big savings. And replacing windows and adding insulation can make your home more energy efficient, too.
Updated Fixtures. If your cabinets are looking old or your switch plates are dated, you can give rooms a new look by simply replacing your hardware. Everything from drawer and cabinet pulls to sleeker faucets to your toilet paper holder and towel rack can benefit from an overhaul if they are worn or dated.
Minor Kitchen or Bathroom Overhaul. New countertops or cabinetry can give your kitchen a fresh new look without the expense of a total remodel. When kitchen appliances break down, replace them with sleeker new models. And never underestimate the worth of a fresh coat of paint in two of the rooms that see the most steam and grime.
Repurposing Space. If you have an unfinished attic or basement, consider increasing your usable square footage by adding a bedroom, media room, or teenage lounge. If the “bones” of the room are there, it doesn’t have to be enormously costly to flesh out the details with flooring and even new drywall. And it’s certainly a lot less expensive than putting on a whole new addition.
Exterior Improvements. Whether it’s investing in a new front door, putting in a deck or patio for minimal expense (do-it-yourselfers are in luck when it comes to free installation), or replacing or repairing old siding, you home will benefit from a fresh new look. And when you decide to sell, features like your new shutters and gutter spouts will automatically increase your curb appeal.
Landscaping. Trim, orderly landscaping goes hand in hand with exterior improvements. Prune back overgrown hedges and bushes and lay fresh mulch annually for a clean new look. Keep your grass groomed and don’t be afraid to add a few flowers for a pop of color.
By thinking ahead now, you can maximize the investments you are making in your home and get the most return for your money when you put your home on the market. Those modern, inexpensive updates will give a fresh face to your home without draining your wallet.
