As of mid-2020, the U.S. had a median home price of nearly $280,000. Over the next few years, home prices are expected to rise by nearly 15% in the next year.
If you’re trying to sell your home, it’s a great time to do it.
The trouble comes when you’re trying to buy your next home. Home prices are only going up and the market is extremely competitive.
Luckily, there’s a few ways to boost your home’s value that don’t cost a lot of money. Read on to learn about increasing the value of your home so you have a larger budget when it’s time to buy.
Add a Fresh Coat of Paint
One of the most budget-friendly ways to boost your house value is with paint. It will only cost a few hundred dollars and a few days of your time, but it may be enough to encourage a buyer to put in a higher offer.
Focus on neutral tones like gray or tan for the best results. If you have any brightly-colored rooms, start there as unusual colors can scare buyers off.
Tidy Up Your Landscaping
While landscaping isn’t technically part of your home, it plays a major role in your curb appeal. Overgrown bushes, weeds, and dead plants signal to the prospective homebuyer that the inside might be in bad shape too.
Mow the lawn, trim the edging, and cut back any overgrown plants. You can even add stylish planters to the front porch or add some fresh mulch to your flower beds.
Handle Delayed Repairs
If you’ve been putting off repairs, you can improve your home’s value by fixing them. Electrical issues, roof leaks, or plumbing problems can scare buyers away. But, if they know you’ve taken care of these issues, they’ll likely pay more for the peace of mind.
What if I want to sell my property for cash, you ask? In that case, you won’t need to worry about home repairs since you’re selling as is.
Get Rid of Clutter
Clutter makes rooms look smaller than they are. Even if you’re still living in the house, try to pare down your furniture and put those pieces in storage.
Get rid of old magazines, store your knick-knack collection, and take down personal photos. The open space will help the buyer imagine themselves living there.
Do Minor Kitchen or Bath Updates
Kitchens and bathrooms are what sell homes. But when you’re trying to sell, it’s not the time to do major kitchen or bathroom upgrades. Often, the design is too specific to your own tastes which buyers won’t like.
You’ll get a better return on investment if you focus on minor upgrades. Consider a fresh coat of paint, new drawer pulls, updated countertops, or light fixtures. It will look fresh enough to entice buyers but not so updated that they can’t put their own stamp on it.
Increase Your Home’s Value Today
You can increase your home’s value with a few low-cost updates like a fresh coat of paint, new light fixtures, and some new potted plants. Handling delayed repairs and tidying up clutter can also make a big difference in asking price.
To learn more tips on home improvement and real estate, keep scrolling through our blog.
