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Increasing the value of your home on a budget

Are you thinking about listing your home or moving anytime soon? There are certain things you can do to increase the value of your home without spending a lot of money, while at the same time ensuring it sells in the shortest time possible. Developing a plan on how to do this and organizing the projects into a timeline can make the process less overwhelming and help you maximize your time and money.

  1. Hire a professional

Instead of trying to do it all yourself, consider getting expert advice. Take the time in the beginning to interview several different listing agents and firms to see which agent is a good fit for you and your family and who will work hard to sell your home for the most amount of money in the shortest amount of time. Once you have decided on the agent and firm that will sell your home, partner with that agent to develop a timeline and budget. The agent will walk through your home and help identify updates that can be made inexpensively, as well as let you know if there is a need for any extensive updates. There is also the option to involve the expertise of an interior designer for an hour who will provide a range of insights and counsel on how to make your home more appealing to a buyer. In seeking expert advice, you will be able to decipher what projects are necessary to ensure your home gives off a great first impression.

Bex

Bex

  1. Do It Yourself Upgrades

The do-it-yourself upgrades are often the first move to improve the value of your home at minimal costs. Homebuyers are looking for move-in-ready homes and often will pass on a home if there are updates or maintenance needed. Per the National Association of Realtors, only 2.9 percent of sellers offered a remodeling credit at closing. So, go ahead and do the updates before you list. If you’re in need of some ideas, my lists below might help, and remember: your personal style may not always appeal to the masses.

Interior:

Organize and clean out as much as possible.  This may include moving some items to storage or having a big yard sale. Removing large furniture items will help the space appear larger and more open. A great resource is the book The Life-Changing Magic of Tidying Up by Marie Kondō. Other ideas include: 

  • Make sure all light bulbs and appliances are in working order.
  • Apply fresh modern paint to the walls and brighten the trim.
  • Replace any worn baseboards, window trims, or baseboard trims.  
  • Update lighting fixtures, sink fixtures, tub fixtures, and coordinating shower heads. 
  • Change out light switch plates and electrical plug plates.
  • Remove any broken blinds and clean all windows.
  • Consider sanding and painting kitchen and bathroom cabinets a crisp bright white or appealing gray.
  • Change out hardware in the kitchen and bathrooms. Consider matte black or a polished nickel or chrome.
  • Clean or remove existing caulk if necessary and replace with fresh white or clear caulk. Ensure glass showers and mirrors sparkle.

Exterior:

  • Landscape the yard. Seed and fertilize the lawn at the appropriate time of year. Consider adding fresh pine needles or mulch. Plant a few trees or simply maintain all shrubs.  
  • Paint any fences and ensure all gates are working appropriately and latching correctly.
  • Clean out gutters, power wash the siding or brick, and sand and paint any trim needed.

Ultimately, decisions to purchase a home are based on how the home makes the buyers feel. Make sure your home is inviting with the right lighting and a fresh, pleasant smell. When you are working with a budget, it is important to focus on the renovations that will make a significant difference and get the most bang for your buck. Have fun with it and take the time to stop and enjoy the completed projects. For more tips and secrets to improving your home’s value, feel free to contact me!

Judi Bex, Bex and Co Properties with Keller Williams Ballantyne-Area, judibex@kw.com, 704-578-7420

Judi Bex is the President and Owner of Bex and Co Properties with Keller Williams Realty, in Charlotte, NC. Their team has over eighteen years of experience in the real estate industry and they rank in the top seven percent of realtors nationwide. Judi serves as Finance Chair for the Leadership Council at KW Ballantyne-Area, values the opportunity to assist clients in real estate investment, and when she is not spending time with clients, you can find her at the baseball field with her family!

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