The fear that your house may not sell faster or command a good price in the current fluctuating real estate market is common among homeowners listing their homes for sale. This worsens once you start thinking of the home inspectors’ reports, especially if your house has minor issues. While some home improvements can improve your property value and retain a high appraisal, they are quite costly.
If your budget is limited, you should prioritize repairs over upgrades. A leaking roof or plumbing can hinder the sale. However, the following low-cost home improvements can increase property value if your house doesn’t require significant repairs.
1. Painting
Painting is probably the cheapest home improvement with a high return on investments. This explains why 36% of property sellers prefer repainting their homes before selling. Choosing the right color among these best paint colors for selling a house can give your property a magical facelift.
However, you should consult professionals for color recommendations and hire qualified painting contractors. Professional painting of a 2500-square-foot house costs between $2,000 and $4,000. If you find this expensive and you are handy, you can DIY the paint job.
2. Bathroom Updates
Mid-range bathroom updates, such as natural stone countertops, are another great low-cost home improvements with high returns. Bathrooms are personal spaces, and an old bathroom can drive potential buyers away. However, you shouldn’t spend a lot on your bathroom updates to increase property value.
Instead of high-end quartz, make a few lucrative yet affordable improvements, such as new sinks and tub fixtures, cabinets, frameless doors, tiling, and countertops. Keep everything simple and minimal. A mid-range bathroom remodel costs between $3000 and $12000.
3. Flooring
According to Zillow, 26% of property owners repair their floors and replace carpets before listing their properties. If the condition of your floor isn’t pleasing, installing a new floor can improve your property value. While they are quite costly, wood or faux-wood floors are preferred to carpets. However, if you can’t afford wood flooring, new carpeting is a significant selling point.
Like painting walls, choosing the right color is vital. As for the cost of investment, expect to incur between $10 and $12 per square foot for faux wood and at most $30 for natural wood.
4. Landscaping
The exterior parts of your house contribute to potential buyers’ first impression of the property. An overgrown or patchy yard is a serious turn-off. Dead or overgrown plants should be trimmed. You should also refresh the lawn by re-sodding and proper edging to define various spaces.
Fortunately, professional landscaping isn’t expensive. It costs between $500 and $3,000 or higher if it involves tree removal. However, you can roll up your sleeves and handle these tasks. Simple activities like planting grass seeds don’t need professional expertise.
Endnote
Other low-cost home improvements that increase property value include updated lighting fixtures and kitchen upgrades. The return on investment for these projects varies, depending on your neighborhood and location. However, most home stages use a general formula: every dollar invested should yield at least $1.50. Some projects, such as paint jobs and bathroom remodels, yield more.
