There are a lot of home improvements you can do to add value to your home. However, not all renovations provide a worthwhile return on investment (ROI).
How can I add value to my house?
If you want to add value to your Frisco, TX home for sale, it is a good idea to check with a local real estate agent to know which home improvements will help increase the value of your property. Real estate agents are experienced when it comes to marketing homes for sale so they know which renovations are necessary and which are not.
As a Realtor® myself, I know for a fact that not all renovations turn into profit. Before you decide on renovating your home, you must know the market value of the houses around you. This will give you an idea of how much you should spend on your renovations or if you need to do such renovations.
If the homes around your area have a market value of $425,000 and your home value is already at $420, 000, you might lose money if you spend more than $5,000 on renovations. Let's say you spent $5,000 on your renovations, there is still a big chance you will only break even. This is why you must check the market value of the homes around you against the current market value of your home.
Most homeowners are willing to renovate their homes and the majority chooses to upgrade their kitchen and bathroom. This is because most homeowners and buyers perceive these best home improvements to increase the value of the house and are considered most impactful as they are highly-used and high-traffic rooms.
Home renovations that add value to your home
Check for any structural issues.
Before you start renovating, you should evaluate your house for any structural issues such as leaking or sagging roof, cracks on the walls, missing or broken tiles, or collapsed slab. There is no point in upgrading any of the rooms in your house if such structural issues are not taken cared of. They are not just an eyesore, they can also lead to more serious issues in the future.
It is better to consult a builder to check what needs to be renovated and get an estimate as to how much the renovations will cost.
Check for any faulty wiring or plumbing.
Electricity and water supply are some of the major needs of a household. Potential buyers often check these facilities. No one wants to buy a house with faulty wiring and plumbing. Such issues can greatly affect the saleability of your home.
Before you start with any cosmetic upgrades to your house, make sure to update your wiring and plumbing system first as they can be a lot of work and may involve lifting floors, changing pipes, and the likes. This time is also a great opportunity to install new lightings, faucets, shower, and other fixtures related to electricity and plumbing.
Once you are done repairing structural issues, faulty wiring, and plumbing, you can start decorating your house. Repainting is one of the most common home renovations that can easily add value to your home. Try to keep your paint simple but elegant. A spacious, bright, airy room easily captures the buyer's attention. To make your house look airy and roomy, choose bright or pastel colors that will complement your furniture and appliances.
Before you start decorating your home, it is important to deep-clean all the rooms. Make sure that all nooks and crannies are cleaned and no webs are left hanging on the walls. You may also use lemon scent detergent and a mixture of baking soda and vinegar to help get rid of odor and stains.
After deep-cleaning your home, replace any squeaking or faulty door knobs, window screws, or handles, or door latches that don't work as well as any moldy sealants in your kitchen and bathroom.
Get rid of all unused items, furniture, or appliances that are just taking up space. You can make your house look spacious without adding additional footage. You can do this by decluttering and arranging your things accordingly. Avoid obstructions to your doors and windows. Place your cabinets and decorations on a space where they keep the doors and windows open.
If the space from the floor to the bottom of your window is high, you may put a sofa as long as it does not obstruct the view of the window. You may also place a piece of furniture beside the door as long as you can open and close it properly.
Remember, you aim to make your house look more airy and spacious. Allowing natural light to enter your house gives it a warm, airy feel. Also, you must choose a paint that is bright, pastel, neutral, or earth tones. These colors are warm and they are cozy. Always consider your furniture and appliances when choosing the right color for your home.
Restore old features.
Rather than replacing everything, aim to restore what you already have. If you have a fireplace, you can restore it by doing a deep clean and repainting. The same goes for old windows. You can grease old screws or replace them and repaint them. It is always a great idea to restore old staircases, decorative moldings, paneled doors, and polished floorboards. These features give off a melancholic vibe while being able to go along with modern design.
Kitchen and bedroom makeover.
Most buyers look for a spacious and clean kitchen where they can move around while preparing dishes and be able to bring in guests too. If you have a small kitchen, consider its shape and position. You may need to utilize the bottom of your sink and turn it into a cabinet for storage.
Small changes such as repainting the kitchen, replacing the worktops and floor tiles, and changing the lighting can add a huge impact to your home's value. It is always a good idea to replace your bulbs with LED lights. They are brighter and energy-saver too.
The same goes for your bedroom. Make it as spacious as you can. Remove unnecessary furniture and large cabinets. Hang your cabinets to give the room more space. Use pastel color or earth color silk or lace curtains for your windows to give your room warmth and allow natural light to pass through.
Make sure to inspect every room in your house and replace any broken knobs, windows, or doors. If you can still restore the doors and windows, you may do so. Most of the time, replacing their screws, hinges, and knobs, and repainting them is enough to make them look like new.
Upgrade your bathroom.
The bathroom is where you relax,a peaceful oasis, where you can wash away your day's stress and grime. It is only right to keep it tidy and hygienic. If your bathroom is small, consider replacing your bulb with bigger and brighter bulbs. You may also consider using a light pipe or a roof light.
Repaint your bathroom walls with bright, neutral colors. White is an ideal color as it makes the bathroom look bigger and cleaner. Regrout your tiles to make it look new. If there are chipped or cracked tiles, you need to replace them. Choose a simple design with pastel or neutral colors.
If your bathroom has a high ceiling, you may consider adding underfloor heating. Keep in mind that your floor level will raise by 3mm to 4mm.
Replace your bathroom fixtures. Choose modern designs that are meant for small bathrooms. If possible, replace your heating system with modern designs that can conserve water.
Upgrade the exterior look of your house.
The first thing people will see is the exterior of your house. If you are trying to sell your Frisco, TX home, it is a must to take care of the exterior look of your house. Repaint the exterior of your house using earth colors. You may get inspiration from your garden or the houses around you.
As for your garden, redesign it to make it look tidy and attractive. You can add more plants or some stones to line your plants. A few hanging flowers or a trellis with vines will also help increase the appeal of your garden. According to a survey conducted by Home Gain, landscaping results in a 215% return on investment and is recommended by 97% of the real estate professionals.
Increasing your home's curb appeal is important as first impressions last. Keep your exterior looking tidy and well-kept to have a good, lasting impression to buyers.
1. How much value does painting add to a house?
According to the 2012 survey conducted by Home Gain, repainting the interior of your house can result in a 107% return on investment and it is highly recommended by 94% of real estate agents.
2. Does a home office add value?
It’s nice to have your own office at home. However, it is not practical to add this to your renovation. The average renovation for a home office is about $28,000. It is expensive and most people just need good lighting and a space for their desks and chairs. Unless you are working from home, adding a home office is not practical.