5 Minor Home Improvements that Add MAJOR Resale Value
Even if you have no thought of selling anytime soon, it's important to consider future resale value when making changes to your home.
These 5 cost-effective home improvements will increase the livability of your home (yes, you should enjoy updates yourself š), provide you with a great return on your investment, and maximize the value when it comes time to move.
- Outdoor living - If you have a small flat area, anywhere on your lot, adding ground-level decking is a relatively cheap and easy way to add value. Dress it up with outdoor seating, a barbeque pit, outdoor rug, and potted plant and you have a space that visitors will love. It will also look beautiful in photographs and attract buyers looking online.
- Garage carpet - Turn your garage into a multi-purpose room by adding purpose-made garage carpet. This relatively cheap investment can turn a cold concrete box into a comfortable space for play, work, or exercise. Especially if you paint the walls a modern, fresh color too. Plus, you can still park your car in there when you need to! When you offer your property for sale, dress the garage up as a home gym or office, so buyers can see the potential.
- Plant cherry blossom or fruit trees - As a buyer, there is something heart-warming and enticing about homes with established trees. It's that bonus āicing on the cakeā which can separate your home from the rest. These trees are cheap to buy but take a few years to grow and start looking impressive. So the time to plant them is well before you are even thinking about moving. Talk to your local garden center to find out what varieties will work best in your location.
- Invest in extra insulation - In the past, buyers would simply ask, āIs this home insulated?ā Now they want to know exactly what kind of material has been used, how recently it was installed, and what condition it's in. This relatively cheap focus area is easy to improve. Even if you already have insulation, you can often improve its quality by using better materials or by adding an extra insulation āblanketā in your roof space to retain more heat in the winter and cool air in the summer and/or a āground moisture barrierā under your home to stop any rising damp. The best part is, you enjoy the benefits of living in a more efficient home right up until you decide to move.
- Painting and gardening - In my experience, nothing gives you a better return on investment than painting and gardening. Every aspect of a home looks better with a fresh coat of paint. The result is even better if you use a warm, neutral, modern color. Ask your local paint shop what their tried and tested colors are or contact me for suggestions. If in doubt, stick to a light warm-gray (picture the color of āsand dunesā) for interior walls. Feature walls are okay, just limit it to one wall per room at most and avoid it if the room is already dark.
As for gardening, trim or remove any trees that are blocking the sun or creeping close to your gutters. This will stop the gutters from being blocked up with leaves. Next, focus on clearing space to show off as much of your lot as possible to visitors and future potential buyers. If you have a lot of grass or empty space, try using concrete steppingstones to create a path. Perhaps leading to some ground-level decking as mentioned above, or to mark out certain areas, like a veggie garden or play area.
But what about kitchens and bathrooms?
These two areas are super important and can add serious value. In my experience though, they are also areas where you can spend a lot of money just to end up breaking even or worse, over-capitalizing. If you are renovating your kitchen or bathroom, focus on what's going to make your life better and avoid investing in expensive, trendy features youāll never need.
What do you think about this list? I'd love to hear your thoughts. Email me at amber@ambergw.com.