Statista estimates that 4.8 million homes will sell throughout the United States in 2020. Before you eagerly list your home for sale, is it a property that buyers will be interested in?
If not, there are steps you can take to get your home ready for buyers. It’s understandable if you don't have the budget to completely renovate your home.
Fortunately, getting your home ready to sell doesn’t have to cost a fortune. Instead of spending lots of money on repairs and renovations, check out these six budget home improvements buyers desire the most.
1. Take Care of Repairs
Research from the National Association of Realtors shows that, on average, people live in a home for 13 years before moving. Over time, any occupied property is going to start showing signs of wear.
With that in mind, make sure you’re getting any issues in your home repaired before it’s on the market. These repairs include plugging up leaks, replacing light bulbs, and fixing anything else that doesn’t work properly in your home.
2. Add Fresh Coats of Paint
One of the absolute best ways to improve your home on a budget is with a fresh coat of paint. Painting your home can help give it more personality. It’s also a great way to hide any stains you don’t want buyers seeing.
HomeGain reports that painting a home’s interior provides a 104% ROI for homeowners. But, before you start buying paint, find and choose neutral colors. Extremely bright or dull colors won’t appeal to the average homebuyer.
3. Finish Your DIY Projects
Have you been spending time inside watching your favorite DIY television shows? Perhaps, you’ve been reading a few home improvement books to pass the time. If either of these is true, you might have some half-completed DIY projects that need addressing.
A recent survey asked homeowners why they didn’t complete their DIY projects. The results found that 55% of respondents stopped their DIY project because it took too long. Whether your project became too costly or took too long, these need fixing before listing your home.
Without completing the DIY projects you have on hold, it’s going to create eyesores that could scare a buyer away. If you have no time or energy to spare on completing these projects, consider calling a contractor. Hiring outside help might eat into your budget a bit, but it also helps your home sell faster than normal.
4. Renovate the Outdated Parts of Your Home
Another realization many home sellers have is that parts of their property became outdated. It’s human nature to get comfortable with what the inside of their home looks like. By this point, you should have a decent idea of what in your home needs repairing.
Now, it’s time to discover what parts of your home provide a good return on investment. According to HGTV, here is a list of several home renovations that bring in the highest ROI:
• Bathroom remodel (102% ROI)
• Kitchen remodel (98.5% ROI)
• Exterior improvements (95.5% ROI)
• New windows (89.6% ROI)
It’s undeniable that renovating your home is going to incur more expenses. But you’re also likely to get much of these costs recouped after your home sells. To take the bite out of these costs, check out this guide to selling your home with a flat fee MLS.
5. Add Extra Spaces
If you want to enhance the value of your home, it’s wise to think about adding extra spaces wherever possible.
What if you don’t have the time or budget to add extra physical space to your home? Fear not, there are still plenty of ways to add new spaces.
One way to do this is by purchasing a few sets of shelves. This gives buyers more storage space, and it’s budget-friendly. You could also add extra outdoor space by cleaning up a crowded patio and adding some inexpensive outdoor furniture.
6. Don’t Forget About Your Driveway
It’s now time to step out of the house for a moment. If you want your property to stand out from the rest, it needs a smooth driveway that looks great.
A driveway in bad condition creates a major eyesore. You also don’t want a potential buyer jostling around from driving on a bumpy or pothole-filled driveway. If they have to deal with this, they might not even get out of the car to step inside of your home.
Fortunately, many companies can take care of this job for you. Then, you’ll have a smooth driveway that creates a great first impression on a possible buyer. It also shows them you take care of your property.
As you can see, several home improvements can provide lots of value for those on a budget. You’ll find that making these small improvements deliver a big difference in terms of both buyer interest and how much your home sells for!
