Whether you have just moved into your home, or you’re looking to sell, improving the value of the house can be a good idea. While you will have to spend some money to increase the value, you can expect to make it back when you sell, and you might be surprised to find how much value you can add through simple, affordable DIY tactics.
Create a budget
Your first step to any home improvement project is creating a budget. It’s important to know what you can afford and what you want to achieve. While it’s hard to gauge how much your improvements will yield, some research suggests you can expect to get around 50%-60% back.
While some improvements can cost next to nothing and have huge impacts on value, other improvements will require some investment. In a case where you need some cash, you could consider applying for a cash loan online through sites like CashnGo.
Once you know how much you’re willing to spend, map out what changes you want to make, how long the changes will take and how much each change will cost. Once you have planned out what improvements you want to make, you can determine what changes will improve the value of your home.
Small improvements with big impacts
Some of the best ways to add value to your home are the simplest, and best of all, you can do it yourself. Of course, the impact an improvement has will depend on if you’re selling soon or later down the track. For example, a fresh coat of paint throughout the house can be relatively affordable, and can add decent value if the house is due for sale in the coming weeks. However, that fresh coat of paint won’t look so fresh if left for too long.
If you’re not looking to sell in the short-term, other simple and affordable changes can have a lasting impact. Installing new and fresh power sockets is an easy DIY tactic that can improve the value regardless of a sale date.
Look at the floor
Many homes, older ones in particular, can have good quality, hardwood floors. If your carpet is looking a bit worse for wear, peel a bit up and check out your floorboards. You might find that the existing floorboards can make for a good upgrade. While you will likely have to restore and finish the old floorboards, it’s a project that will likely be much more affordable than installing new flooring from scratch.
If you’re carpet is in good condition and you don’t want to tear it up, or you don’t have nice floorboards, an inexpensive alternative is to simply get a professional carpet cleaner to rejuvenate your carpets.
Don’t forget about outside
There’s no doubting that the inside of your home is important, however as they say, first impressions count. The curb side appeal of your home is crucial to its value. Walk across the street and look at your house. Take note of the exterior paint job, the front door, letterbox and the garden. There are probably several things you can easily and quickly tidy up which will add value to your home. Clearing your gutters, power washing driveways and footpaths and simply getting a new doormat are some things that you can do yourself to improve the value of your home
Next, step up to your backyard and consider what can be done there. Is your backyard tidy and organised? Your backyard is an area where you can usually add a large amount of value but of course, this comes with a greater upfront cost. Things like pools and water features can increase the value significantly but are hardly affordable DIY projects.
There are certain things you can do yourself however, that will increase the value significantly. For example, installing a shed might seem like a big undertaking, but with sites like EasyShed, it becomes a manageable DIY project.
Time to sell?
The improvements you look to make will depend on if and when you’re planning to sell the house. If you’re selling soon, it would be wise to make the DIY improvements that will have the biggest impact on the value of your home. If you’re increasing the value of an investment property with the aim of selling it, online marketplaces like Roofstock make it easy to sell property while making improvements as there’s no need to stage or host an open house.
When people think of increasing the value of a home, they often think about big additions and expensive renovations. However, with some planning and prioritising, you can greatly improve the value of your home through simple DIY tactics.