Top 5 Low Cost Renovations for the Highest Home Value
Updated: Aug 23, 2019
1. Low Cost Curb Appeal. • Paint the front door and add a new door knob and knocker. • Paint the garage door and add hardware. • Power wash the exterior of your home and give the trim a fresh coat of paint. • Make your yard pop with mowing, edging, weed pulling and trimming, adding a few new plants, flowers or trees, wood chips or rocks and landscaping lights. • Power wash or refinish your driveway.
These inexpensive upgrades to the outside of your home can add thousands of dollars in value simply because curb appeal and first impressions make your house look instantly appealing in a prospective buyer’s mind.
Paint the interior walls, doors and trim. It's amazing how something as simple and affordable as painting can make the whole house look new.
3. Replace Flooring.
Give your entire home a fresh new look with easy and low cost flooring. Floating locking engineered wood floors are very popular and add great value to your house. Yet they are also an inexpensive option because they are easy enough to install yourself, saving you thousands of dollars in labor. Plus they look fantastic!
For basements, stained concrete is very popular, can look like high end marble, but is very low cost and easy to do yourself. Stained concrete may also be the most durable option for basements because of the potential for moisture or flooding.
Then add some great new rugs to your whole house for color and personality. You can find a lot of beautiful and very affordable rugs to choose from at places like Overstock.com, Wayfair, Walmart and Ebay.
These kinds of flooring upgrades or any flooring upgrades will add huge value to your house and the best return on your investment.
4. Fixtures and hardware are inexpensive updates to make.
New light fixtures, doorknobs, switch plates and vent covers inside and out can add value by giving the whole place a brand new look.
5. Update Kitchen and Baths.
Updating your kitchen and bathrooms can cost a bit more but are the most impactful upgrades you can make for higher value because they are so important to home buyers. New countertops can be the most costly of kitchen upgrades but can make the biggest difference in value perception to a buyer.
For lower cost upgrades in kitchens and bathrooms consider painting cabinets or adding new cabinet doors, adding new cabinet hardware, new tile backsplashes, sinks, faucets, vanities, toilets or tubs.
To see the actual value difference of your house before and after these upgrades, order a Local MLS Comps Report Online before the renovation and another comps report after.
In the first comps report, instruct your agent to use recently sold houses in your area that have not been recently remodeled.
Then, after the renovation, tell the agent to use comparable sales of houses that have recently been remodeled or have the same kinds of upgraded features as your newly remodeled home.