A house is the single largest investment most people will make in their lifetime. As such, you want to maximize its value. While a major remodeling project or addition will add value to your house, not all changes need to be so drastic. There are plenty of smaller and simpler home improvement projects that can raise the value of your home without training your budget.
1. Install a Solar Panel System
Let’s be honest. Installing a complete solar power system on your home may not seem like a simple home improvement project. And, maybe it isn’t in the true sense of the amount of time and effort required for installation. However, tax rebates, financing options and the availability of professional installers make the process of designing and purchasing a system easy and straightforward. Plus, the reduction you’ll see in your power bills makes it a no-brainer. An average solar panel installation will boost your home value around 4% or just under $10,000 as a national average. If you live in a major metropolitan area or somewhere with high or rising utility rates, the increase could be much higher.
2. Boost Curb Appeal
First impressions count when it comes to the value of your home. A bad one can put a potential buyer off, no matter how great the interior of your home is. That is why focusing efforts on boosting your home’s curb appeal can really pay off. Start with anything structural that stands out. Fix cracks in walkways, seal the driveway, secure any loose gutters or shutters and repaint any areas that are peeling or chipping. Look at areas of the yard that could use a little extra lighting and install it. Solar landscape lights have come a long way in recent years, so you may not even have to worry about running wiring. A ceiling fan on the porch could be a great addition in a warmer climate. Dress up the entry by repainting the door a welcoming and complementary color and adding some attractive landscape plants.
3. Rethink Your Color Scheme
No matter how much you love bold, bright colors, they can detract from the overall appearance of a home. Swapping out the color pallet in rooms can make it easier for potential buyers to envision themselves there, making it a more attractive property. Avoid trendy combinations that will go out of style within a year or two, necessitating another remodel. Learn which colors impact home value both positively and negatively and choose ones that work best for your space.
4. Do a Minor Kitchen Remodel
The kitchen is one area where small improvements can have a big impact on home value. It shouldn’t come as a surprise, either, since kitchens are the heart of a home, after all. So, if your kitchen meets your basic cooking and food prep needs, but it is lacking in style, a minor remodel can give you the space you want at a fraction of the cost of a whole new kitchen. There are plenty of smaller swaps you can make in a kitchen to increase its value without blowing your budget.
Start by evaluating the cabinets. If they are sound and functional, think about refinishing or refacing them. You may want to leave them alone and update the countertops instead. Upgrading their hardware is an easy way to give them a whole new look. Repaint the walls in a sophisticated color, then add a dramatic backsplash as a focal point. Install an upgraded sink and faucet and splurge on at least one really nice appliance to complete the look.
5. Update the Technology
Technology can make your life easier, and it can also raise the value of your home. Look for small technological upgrades that will help pay for themselves in energy savings. Here are a few ideas to get you started in the right direction:
- Keyless locks and deadbolts
- Smart or programmable thermostats
- Smart outlets and light bulbs
- Wi-fi enabled water heaters
- Smart appliances
Any time you invest in a home improvement project, you want to consider how it will affect your home’s value. Simple projects that improve curb appeal or increase energy efficiency offer an impressive ROI and are definitely worth considering.
SmartReno can help you find the right contractor for your Interior renovation project