Clever Tips that Will Help You Increase Your Home’s Value

7. Replace Exterior Siding

When you have been living in a house for years, you may be so accustomed to seeing your exterior siding that you are blind to the little imperfections that have formed there. The good thing about siding is that it can be painted, or you can replace pieces as-needed. A good power wash is also an option, and can make your siding look brand new again.

Of course, sometimes the siding is too far gone, and there is no other option than to replace all of it. “According to Remodeling Magazine’s 2018 Cost vs. Value Report, replacing siding increases home value by 76.7% of the project cost; for a mid-sized project valued at $15,072, you can recoup $11,554” (via Progressive Foam)

6. Replace Carpets or Rugs

“Take a look at your home’s soft flooring. Are your carpets and area rugs stained or worn? Nothing turns buyers off more than the thought that they will immediately need to replace all of the flooring in a home. Ideally, you may want to replace them all, but if a limited budget puts a snag in that plan, start by replacing the carpet in the room that shows the most wear and tear and replace the others as your finances allow.”

Even if replacing a carpet only costs a few hundred dollars and one day of work, future buyers don’t always have that mindset. They want something that is move-in-ready. So never assume that the buyer will have the foresight to put it in their own budget. Also make sure the floors are vacuumed and cleaned professionally with a wet-dry vac before you have tours of your home. (via HGTV)

5. Install Hardwood or Vinyl Flooring

One of the most highly valued things that people look for in a home is hardwood floors. If you’ve seen any episode of Fixer Upper, you already know how Joanna Gaines lifts up the carpet for an older home in the hopes of finding original wood flooring underneath. Most buyers are also hoping for the same. So if you can do that to your own home, consider ripping up the carpets, sanding the floors, and staining them so that they show off their antique beauty.

Of course, you can also pay to install brand new wood floors in a home, if there is just plywood hiding underneath your carpet. According to Bob vila, Installing hardwood flooring averages between $6 and $12 per square foot. On average, wood flooring costs between $3 and $7 per square foot for materials and $3 to $5 per square foot for labor. An estimate for installation of 1000 square feet of hardwood flooring runs between $6,000 and $12,000.” “As long as the wood floors are in good condition and well-maintained, they will have a higher resale value than laminate floors. Some flooring resale values are regional, but hardwood is a clear winner across the board. Also, even if you have high-quality laminate, your listing will still just say ‘laminate.'”

(via Carpet Captain)

4. Finish Your Basement

“If you have an unfinished basement, you might have room for storage, but you’re missing out on livable space for future buyers to enjoy— whether as a home office or space for entertaining. In fact, finishing a basement of 400 to 1,500 square feet has a potential ROI of up to 75%. You’re adding more heated square footage, which bumps up your house into another price bracket.”

“Even among homes ranging from $250,000 to $400,000 in Georgia, an unfinished basement can add about $15,000 to $20,000. If finished, a basement can add even more — up to $40,000 or $50,000 to the asking price. Finishing a basement will run you $18,400 on average, but can cost up to $34,000, largely depending on your square footage. This project involves installing flooring, drywall, and paint, but it creates a “valuable blank canvas” for potential buyers.” (via Homelight)

3. Replace Your Garage Door

When you think about curb appeal, it is the impression that you get when you walk up to the front of someone’s house. If you have a garage with an old, dented door, people take notice to that. Sometimes, you can improve the look of the door by just painting it. But sometimes, there is no other option than to replace the door completely.

“According to HomeLight’s research, top agents say a new garage door costs an average $1,200 but adds an average $2,797 in resale value for a 133% ROI.” Of course, some garage doors cost much more than that, if you’re looking to install something stylish rather than basic. At the end of the day, do what’s right for you and your budget. (via Homelight)

2. Add a Parking Space

Depending on where you live, ample parking space might be like finding the holy grail. But no matter where you’re located, people always check to see how many cars they can fit in the driveway. Multiple adults may be living in the same home, but they also want to have guests over without crowding the street with cars. In urban areas, it’s especially rare to have a parking space. So if you can figure out a way to create one with gravel or pavement, this will always add value to your home.

“Parking spaces are increasingly becoming like the veritable needle in the haystack and more and more homeowners are choosing to convert excess space in their property into valuable parking facilities. Adding a single parking space to your home could see your property’s value soar by 5%.” (via Deco Alert)

1. Replace Your Mailbox and House Numbers

Believe it or not, small touches like your mailbox and house numbers really grab buyers’ attention. You may have a beautiful home, but if you have an old and dented mailbox, it comes across as lazy. If you can’t even replace a mailbox, why would they want to even look inside or consider buying your house? Mailboxes cost less than $50 if you’re going for something standard from somewhere like Home Depot, or you can invest a bit more and get a stylish one for around $100 to $150.

The same goes with house numbers. You need to make sure your house numbers are large and easy to see from the road. Nowadays, people get deliveries from Amazon and Uber Eats left and right. We need the drivers to be able to clearly see where you live, so there is absolutely no confusion for them. The great thing about house numbers is that they’re incredibly cheap from somewhere like Home Depot, and you can even find them at the Dollar Tree. You can also paint the numbers by hand, if you happen to have the skill set. (via Homelight)