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Increasing the Value of Your Home

Published June 5, 2019

By Jordan Ottaway

Even if you’re not planning on selling your home anytime soon, you always want to know how much your renovation projects will affect your home’s value.

That’s why it’s crucial to know beforehand which projects will bring more bang for your buck. Replacing older objects, such as doors, windows and siding, can yield a better return than bigger projects like upgrades or additions.

Let’s begin with the exterior and work our way inside.

 

Update your front door

This is one of the top-ranking home improvement projects, and it makes sense because it’s one of the first things people see when approaching your house. So, making sure it gives a good impression is important.

However, you don’t have to pay a ton of money for an elaborate door if it doesn’t go with the rest of your house. It has to be the right front door that will complement your house as a whole. Sometimes you can get away with simply putting a new coat of paint on your existing door and get similar results.

 

Freshen up the paint

Yes, painting your walls isn’t the easiest task, but it’s a less expensive alternative than having a professional come to do it for you. Giving your walls a fresh coat of paint can give you a much higher return on investment because it makes your house seem newer.

It’s all about choosing the right color for the room since different colors create different moods. Lighter shades generally make a room feel larger and tend to be more appealing to potential buyers. If a room has limited natural light then stay away from lighter colors because it can end up making a room look sad and gray. If you have a room that doesn’t receive a lot of natural light then try painting the walls a warmer color.

Don’t forget to test colors before buying a gallon of paint. Home improvement stores usually offer 8-ounce sample cans for $3 so you can make sure the color will work for your home.

 

Liven up the kitchen

You’ve heard the phrase “kitchen is king,” haven’t you? Well, it’s very true.

Now we won’t get into the more expensive kitchen updates, so let’s focus on the sink and faucet for now. These are small projects that make a big difference, and the best part is you can do them yourself in a few hours. It’s a smart idea to buy the sink and faucets together because it will need to match the number of mounting holes on the sink.

However, if that’s not the route you want to go then consider giving your backsplash a facelift. Depending on the material you use for the project, it can be an affordable update that will catch buyers’ attention when they visit the house. A simple color or design change can make an older kitchen look and feel modern while offering quality protection to the kitchen walls.

 

Remodel that bathroom

Another room buyers look at the most is, you guessed it, the bathroom. Replacing outdated vanity cabinets, toilets, and even showers and tubs can exponentially raise the value of your home because the bathroom gets high foot traffic every day.

Look for modern water-saving models that will both save on your water bills and appeal to those who are energy-conscious when it’s time to sell. If you want to save hundreds on cabinets, use an old dresser as the foundation for a new vanity. Simply cut out room on the top to hold a basin sink and to connect pipes.

Headshot of Jordan Ottaway
Jordan Ottaway contributed to the Neighborhood Credit Union blog from 2016 - 2019.