There are many different ways of improving home value, yet its difficult to gage net returns and ROI.
Upscale fixtures, newly remodeled rooms, and high quality appliances seem flashy, however typically don’t offer a great return on investment! Below are a few great suggestions for keeping improving your homes value with upgrades!
Tip Number One:
Spend an hour with a Realtor. I think you knew this was coming, and it is absolutely the best way to establish Value. In Pullman, our unique market dictates specific ways to improve home value that a real estate expert will be able to tell you. Depending on the location, size, and age of your home, I will be able to give you great advice for improving home value!
Tip Number Two:
The Devil is in the Details. When looking for ways to improve your home, its not always about the cosmetics! Take an honest look at your home and evaluate any potential problems you should address. Outdated electrical? Older potentially leaky roof? Rotting fence boards? An honest to goodness home inspection will do wonders for adding value to your home. When you want to sell in the future, fixing that electrical will reap improving home value HUGE dividends in the long term, since it won’t become part of the concessions when negotiations! Don’t skip a good ol’ inspection!
Tip Number Three:
New Paint makes everyone happy! This is especially true when your looking to sell your home! New paint makes homes “pop” and adds great resale value! Whether your painting a few rooms, or then entire exterior, there isn’t a simpler way to generate positive ROI! Work with your local paint store to find some neutral, modern colors that will pick up the natural accents in your home. New paint will pay off in huge dividends and it looks great!
Tip Number Four:
Energy that is great for the environment and your wallet! While not an immediate payoff, better insulation and thermostats absolutely help improve your home value. When we present potential buyers with energy costs and insulation analysis, homes that have energy saving investments are noticeable over homes that are behind the times. Buying a Nest thermostat will immediately start saving you money, and will help lower your rates over time as well! Replacing your old lightbulbs with modern, energy saving ones will also help reduce your long term energy expenditures, improving home value. You also never have to change them, a huge plus!
Tip Number Five:
Get Into Gardening! You don’t need a green thumb to improve your curb appeal! Planting seasonal shrubs and plans around your home looks beautiful. It can also be therapeutic. There is something to be said for getting outside, as well as getting a little dirty! Find out what plants thrive here on the Palouse, then incorporate them into your home exterior. You might find out you love gardening!
Tip Number Six:
Cleanliness IS next to Godliness! Dozens of studies have shown that our living environment effects our every day lives. If your home is dirty, and you never take out the garbage, it will have effects on your mood! For just a few hundred bucks you can hire a local cleaning company to deep clean the carpets of your home. After they clean, you will want to move your furniture anyways, so why not give your home a good fall cleaning? The results will make you happy, even if your dreading the soon coming winter!
Tip Number Seven:
Small bathroom changes can mean huge returns! The bathroom is a great place to start a tiny “remodel” project! While the kitchen offers better ROI, the bathroom is exponentially more affordable! New fixtures, a gorgeous vanity, and upscale flooring can turn your bathroom from meh to miraculous! Make sure and check a few local stores for specials on fixtures, you never know what great stuff you might find in the bargain bin!
Tip Number Eight:
Consider some really cool rugs! A very current design trend (especially for the HGTV crowd), carpets and rugs are all the rage! Depending on your homes flooring, you might consider investing in a few. Oftentimes, new homeowners will ask to purchase the rugs, and you will have gotten the value of using them. There is also amazing amounts of variety, and shopping for them is a great experience!
Tip Number Nine:
Kitchen updates are king. There isn’t a more showy room in your house! Everyone that looks into purchasing a home wants a beautiful kitchen. Heres my really quick tips on building kitchen value. Don’t short yourself on the remodel. If you are going to update the kitchen, be ready to invest 15k+ dollars. Starting the project, then being cash strapped will make you take negative shortcuts. Consider the project and investment and go for it! My other tip: Fixtures, flooring, and accents make the value, not appliances. White or Stainless, most people have opinions on appliances that are quite varied. Avoid picking appliances your home buyers “might” like, and go with amazing changes like hardwood floors and an island! There are many choices that add flair without adding “style” that everyone will love!
Tip Number Ten:
Life’s to short. As humans, we always get carried away with saving money, spending money, or “fill in the blank” money. Remember, your home is about you! Sometimes investing in YOUR happiness is a great investment! Don’t forget during all your penny pinching, to make decisions that will make you happy. In the long term, you will be glad you did!
That takes care of this weeks thoughts! Improving home value is a never ending pursuit. With a little bit of thought and expertise, you will find tons of ways to add value and happiness to your home!