Homeowners face a bigger struggle today than ever before when it comes to increasing home value and choosing the right improvements. Truthfully, not every upgrade is worthwhile; some end up costing you more than they’re worth. Others may be perceived as “minor,” yet significantly add value both now and in the future if the homeowner decides to sell. From minor bathroom updates to landscaping updates, this post will reveal a few of the best “small” changes to make.
When it comes to improving the home, there are three relatively minor improvements that can make the home more modern looking and desirable to live in. These improvement typically increase the home’s value by two to three times the cost of each improvement. The three improvements include; minor bathroom updates, minor kitchen updates and minor landscaping updates. Here’s what homeowners need to know to make the most of these upgrades and improve the value of the home.
Can These 3 Home Improvements Really Pay Off?
Minor Bathroom Updates
The approximate value increase for a home with an updated, modern-looking bathroom is $10,000. Bathroom updates can be fun DIY projects, but even if hiring a professional, the increase in the value of the home can be well worth the investment as long as the cost is under $10,000. A full tub replacement can cost over $1,000, but reglazing the existing tub can give it a brand new look for only around $300.
Those who are willing to put in the time and effort are only a Youtube video away from confidently renewing the aging caulk and grout, too. This gives the bathroom a fresh, brand-new look. To finish up, replace dated floor and wall coverings or repaint to turn a few thousand dollars in updates into $10,000 or more in increased value.
Minor Kitchen Updates
A clean modern-looking kitchen can increase the value of most homes by up to four or five percent. If comparable homes in the neighborhood are valued at $500,000, having a dated kitchen could mean the home value is $20,000 to $25,000 less than other similar homes.
As for which updates are easiest, there are a few options. Granite countertops start somewhere between $50 to $100 per square foot. Ceramic tile countertops are a vested crafters dream. Inexpensive synthetic laminate flooring is another option; even the most basic contractor can easily install it for a small stipend. Refacing cabinets is also affordable, especially if the cabinets are common sizes. By shopping for mass-produced cabinet doors, or refacing with paint or contact paper made for cabinet fronts, one can often update an entire kitchen for under $1,500.
Minor Landscaping Updates
Updating the landscaping does not have to involve expensive designers and contractors. Local landscaping services should be skilled enough to perform inexpensive updates that can translate into a much higher increase in value.
As for what to should change, focus on curb appeal (how the home looks from the front) and then work towards the back. Remove overgrown shrubbery and debris, paint fences, create stone pathways, and replace grass with fresh sod. Plant shrubs bushes, trees and/or decorative ground cover. Then, focus on re-sealing the driveway or pathways with a colored sealant to brighten them up. Follow up by refinishing wooden stair and decks.
DIY, Handyman or Professional?
Some tasks, like cabinet making, electrical work and plumbing, are better handled by professional service providers. Many local handymen who are not much better or worse than their professional counterparts, market themselves on Taskrabbit.com and AngiesList.com. The key is to work with technicians who have many positive online reviews, indicating they are both skilled and have a reputation of leaving customers satisfied and happy.
Home upgrades help homeowners improve home value, but they also increase satisfaction, enjoyment, and creature comforts. Above all else, be sure the investment serves its purpose now and in the future, should selling become an option. There’s no reason to splurge on everything at once; start small and add on new projects over time.