How to increase your home's value on a budget!

Refinancing your home is a great way to get a better rate or use the money you have invested in your home to knock a few remodeling projects off your to do list. When you are selling your home, you want to get the most amount of money possible for your home. You invested a lot of time and money into your house, and you deserve to reap the rewards. A lot of people think you need to do a flashy, expensive project to boost the value of your home, yet there are a lot of simple and cost-effective ways to increase the value of your home without breaking the bank.

FIGURE OUT YOUR HOME VALUE

Home values are constantly changing. The national median home sale price has risen more than 15% year-over-year, according to National Association of Relators data. Without doing anything to your home the value has increased. Before you begin any projects, it is important to know where you stand. Prices for house are based on the market. Taking the time to determine what your home is worth before putting it on the market will give you a good idea on how much to list your home for. Home appraisals and online home estimator tools can help give you an idea on how much your home is worth.

A home appraisal is when a professional appraiser determines the value of a home. The appraisal takes into account the features of the home, as well as recent sales of comparable homes in the same area. The appraiser may request access to the inside of your home, or simply complete the appraisal by examining the exterior. Peguero Construction would recommend hiring an appraiser that does an interior appraisal as well. This will give you the most accurate appraisal possible.

Lenders typically require an appraisal before they will issue a mortgage to buy or refinance a home. There is a fee for the appraisal, but you're entitled to a written copy of the report. An appraisal typically costs between $300-$450, though they can sometimes cost as much a $1,000 depending on your location.

Using an online home value estimator will give you a quick, free estimate of your home's worth. Since nobody is physically examining your home, the information used to compute your home value is limited.

8 cheap ways to increase your home's value

A pricey renovation or an addition will certainly increase the value of your home, but these projects are typically expensive and very time consuming. The are a few ways to increase your home's value for a lot less money and a drastically shorter period of time.

All average cost information below is from HomeAdvisor, which bases its data on actual project costs reported by members.

1. Deep clean and declutter

Deep cleaning: $250-$500

Decluttering and staging: $700-$3,000

When you list your home for sale, you are asking people to come into your home and imagine what it would look like if they lived there. If your home is neat and clean, it will give people a calming sense and allow them to see the potential that your home offers. The cost for a deep clean, decluttering, and staging has a pretty wide range and will increase based upon the size of your home, amount of cleaning needed, and how much clutter there is.

Focus on the high areas of traffic when cleaning. Make sure the bathrooms and kitchen have been thoroughly cleaned before anyone comes to take a look at the house. Putting personal items away and opening up areas like countertops, shelves, and desks are free from clutter. Moving furniture around or removing it from the home will open the floor plan and allow potential buyers to easily envision what they would do if they lived in the house.

2. Paint or pressure wash

Painting: $200-$1,500 for interior $2,000- $8,000 for exterior

Pressure washing: $500-$2,000

A new coat of paint goes a long way. It can make the interior and exterior of you home stand out. Painting the interior walls a neutral color helps when it comes to potential buyers. Bold colors are fun and can add extra emotion to a room, but it can turn off some buyers because it does not fit their vision or style.

Pressure washing cleans stains and debris that build up over time. Your home will look newer, especially with a new coat of paint afterwards. Don't forget to pressure wash the decks, patios, walkways, fence, and driveway while you're at it.

3. Replace light fixtures and hardware

Light fixtures: $75-$300 per fixture $500+ for professional installation

Hardware: $10-$50 per knob

Replacing old light fixtures for a more modern look gives your home an updated and sleeker feel. Changing the hardware on the kitchen cabinets, drawers, toilet paper holders, interior doorknobs, closet doorknobs, and other simple pieces is a simple way to make a quick upgrade that is often overlooked.

There are many different finishes for the hardware. Chose one finish and use it throughout the house for a uniformed look.

4. Make your home more energy efficient

Home energy audit: $200-$700

Energy efficient upgrades: $100-$20,000+

An energy efficient home can be a major selling point. Before you list your home, consider having an energy audit performed at your home. This is a thorough inspection of you HVAC, insulation, windows, and a few other products. Massachusetts will send someone out at no cost to perform an energy audit and will leave you with efficient shower heads and light bulbs.

This audit will give you a good idea of what projects may be worth making a larger investment in before listing your house. Replacing older windows, installing smart thermostats, changing old light bulb to LEDs or CFLs, replacing old appliances for more efficient and modern models can go a long way when you are selling your house.

5. Upgrade your appliances

Refrigerator: $500-$10,600

Washer or dryer: $400-$2,200 per appliance

Old appliances can scare potential buyers away because they start to see extra dollar signs on top of the price of the home. A new refrigerator, stove, washer, dryer, dishwasher, or/or microwave will update your home and help your home standout. Stainless steel appliances are some of the most desirable options on the market today.

6. Boost curb app

Adding some nice flowers or shrubs around the property gives people a warm feeling when they pull up to your house. This will put buyers in a better mood as they arrive at your house and perform their inspection. Some plants and flowers are a low cost way to make your home look and feel more appealing. Keeping the lawn mower is very important. You want any potential buyers to see your property at its best.

The first and last thing a buyer sees at your house is the front door. A new front door can drastically boost the sale of a home. If replacing the door is not in the budget, consider painting it to brighten it up a bit.

7. Refinish or install new flooring

Refinishing: $1,000-$3,000

Installing new hardwood floors: $2,500-$10,000

The floor in your house takes a beating every day. Over time it will start to show some signs of wear and tear. Refinishing your floors can breathe new life into your old hardwood floors. It makes them look brand new. You can only refinish your floors a few times before it is time to replace them though. Depending on that age of the floors and the thickness of the material used, you may need to install new hardwood flooring.

New flooring can increase the price of you house by roughly 2.5%, according to Realtor.com. Getting news floors can be very disruptive to your daily life. In some cases you will need to leave the home during the project, which adds to the overall cost of the renovation. You will also need to remove most or all of your furniture when getting new floors.

8. Add crown molding or new trim around windows, and doors.

Single room: $300-$1,200

Entire home: $3,500-$15,000

Decorative trim gives a home an elegant feel to it. Crown molding is a decorative piece of trim that is installed along the seams between your ceiling and walls inside your home. There are many different styles to choose from. The fancier the option, the more expensive the project will be. 

Installing new trim around windows and doors is an inexpensive way to make older windows and doors look newer.

We are here to help

Call the best painter near you for a quote on some interior and exterior painting. We offer Harvey and Anderson windows as well. Give us a call today for a free quote on energy efficient vinyl windows or wood windows!