Contrary to popular believe, major remodeling projects are not always a good investment. That’s not to say making improvements won’t increase the value of your home. However, it’s important to know there is a difference between cost and value. This is one of the most common misunderstandings in real estate. People want believe that they’ll always get their money back on these types of improvements. Unfortunately, that’s not always the case. A kitchen remodel that costs $40k may only increase the value of your home by $5-10k. While that new kitchen will likely make your home more desirable than other similar homes, that doesn’t necessarily mean that buyers will be willing to pay $40k more for your home. As we discussed in a prior post titled Is Remodeling My Home a Good Investment?, it’s important to weigh the cost vs. value for all home improvements. Many projects will cost more than the value they add to your home, but there are things you can do that should add more value than what they cost. Here’s a list of 10 low-cost home improvement projects.
Doors
Replacing or painting old doors can help spruce up your home without much expense. A new front door or garage doors can do wonders for your home’s curb appeal. Interior doors can make a dramatic difference too. Consider replacing plain or damaged interior doors with something more interesting such as 6 panel doors. Painting them is another option. Remember to skim sand existing varnish, prime, then use satin gloss paint when going over stained surfaces.
Electrical Switches & Outlets
If your home has old, yellowed outlets and switches, consider replacing them. Always with anything electrical, be sure to hire a professional if you aren’t up to it yourself. Safety first, folks!
Lighting Fixtures and Ceiling Fans
Changing one or more light fixtures is a great way to alter the entire feel of a room. New lighting fixtures can do a lot to modernize the look of your home. This includes interior lighting in areas such as the kitchen, bathroom, or living area. New outside lighting can be provide just as much bang for your buck.
Faucets
Are your faucets old, grimy, corroded, and possibly leaky? Replace them! Keep in mind that faucets are one place that you really get what you pay for. The cheapest ones are not likely quality buys, and when dealing with water…don’t risk it. Plus, cheaper fixtures often look and feel cheap. This can subconsciously influence buyers’ opinion of your home. Consider replacing old shut off valves and supply lines at the same time.
Fresh Paint
A fresh coat of paint can do wonders for an old room. You may find your new wall paint now makes the ceiling look old. If that’s the case, paint the ceiling too. Be sure to keep your edging clean. A crisp straight transition between the wall color and the ceiling really makes for a complete package.
Carpet
Some people love carpet, some hate it. Regardless, steam cleaning your carpet or replacing it is absolutely necessary when listing your home for sale. Unless you already have brand new carpet, any show of wear, dirt, or odor is a major turn off for buyers. Be aware that carpet also traps odor. Ask friends, family, or your real estate agent for honest feedback in this area: “Does my house stink?”
Tile Entry
Replacing a small area of hardwood flooring or carpet with tile in an entry way is relatively inexpensive. Plus, it’s much more practical to have an area that can handle the moisture and dirt that gets tracked inside.
Door Hardware
Door knobs, kitchen knobs & pulls. Oil rubbed bronze and stainless are both popular right now. Get rid of the brass! This is another area where quality can make a big difference. Cabinet pulls might not be as noticeable, but cheap doorknobs feel cheap. Buyers will recognize the feel of cheap hardware, even if it’s just subconsciously.
Restain Your Deck
Restaining your deck will often make it look brand new. All of you DIY, weekend warrior types will take great pride in how much of a difference this project can make. If you’re not up for the task yourself, it’s OK to hire someone.
Landscaping
Making sure the grass is full and green is important. Add fresh mulch to the flower beds and add some simple, low-maintenance flowering plants. Don’t go too far with the landscaping. Adding too much will hurt more than help with most buyers, because most will don’t like the thought of high maintenance landscaping.
Hopefully, this helps you see the difference between cost and value. Home improvements are always both exciting and stressful. Here’s to making wise choices in this area of home ownership.
If you’re looking to move or just want more information, please give me a call. As usual, no pressure.
Justin Rollheiser – REALTOR®
Keller Williams Realty | Diamond Partners, Inc.
13671 S Mur-Len St | Olathe, KS 66062
Cell 913-800-7653
Office 913-322-7500
www.JustinRollheiser.com
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