As a homeowner, you know exactly how important it is to invest in your home’s quality. And if you’re one of the thousands of people thinking about selling your home, the value of your home has probably never seemed so important.
Getting the highest return on investment for your home comes down to a long list of relatively cheap home repairs that greatly increase your home’s value. Luckily, there are many things you can do to your home that are easy, quick, cheap, and will pay off in the long run.
Many people don’t realize how much they can gain by doing cheap home repairs when they’re thinking about selling. Typically, the return on investment for home improvement jobs is close to 80 cents on the dollar. This means that while you have to put the money down upfront, you will receive close to 80% of that money when you sell. So, putting the money down will pay off in the end.
While the housing market may increase or decrease, if you put in the work upfront to increase your home’s value when the market is right, you will be better off than if you hadn’t.
So let’s get started!
Make a Plan
While it might seem like a good idea to start doing cheap home repairs without having a final vision in mind, it usually isn’t. Those who choose to make home repairs as they see fit with little to no plan will find that it actually costs them more money.
The first thing you will need to do is sit down and evaluate what needs to be done, what should be done, and what you want to do.
Pick out contracting companies ahead of time. Do research on building materials and overhead costs. And begin to put money away for the projects that are going to be more costly than others.
Planning might not be fun, but it is a vital step in this process if you wish to increase the value of your home as much as possible.
Take Your Time
This isn’t so much a step as it is a tip.
Many people who embark on their home improvement journey have a tendency to want to get everything done all at once. This will most likely turn cheap home repairs into a pricy full home remodel. We don’t want that.
It’s estimated that around 90% of families are in some kind of debt, so it’s safe to say that you don’t want to add to that figure by incurring unnecessary or hasty home improvement costs
So, take you time, look at the plan you have plain that you have laid out, and tackle one project at a time.
Walk Through with a Professional
Taking the time to walk through your home with a realtor, home appraiser, or interior designer will give you a good idea of the cheap home repairs that you will want to do if you wish to increase the value of your home.
A walkthrough with any of the professionals mentioned above will tell you what cosmetic things need to take care of first and foremost. However, a realtor or designer will not be able to point out more structural or hidden issues.
For issues like damaged roofs, bug infestations, unsafe electrical systems, or garage floor issues that may be damaging your foundation, you will need to hire a home inspector. A home inspector will be able to point out any major issues that need to be addressed in your home.
Contract workers and professional inspectors will typically do a walkthrough or estimate what you need for less than $100. This helps in making cheap home repairs more accessible to all homeowners.
Nothing tanks the value of a home faster than things that are broken, missing, or damaged.
No matter how new your home is, there has got to be at least one thing in need to repair. The fastest way to increase your home’s value is to make sure everything is repaired and maintained to the best of your ability.
Cheap home repairs are easy to come by. Simple small tasks like fixing your leaky gutters or replacing worn-out doors and windows will leave your home looking better and worth more money.
While some repairs can be done by the homeowner, like replacing light fixtures, repairing sheetrock, and replacing window molding. Not all jobs should be tackled by the homeowner. When it comes to large projects that require specialized skills, it’s smart to call a professional.
For example, if your house has a leaky roof, you will want to hire a roofing contractor. Doing DIY roof maintenance and repair is risky, but it can also be potentially life-threatening.
Let’s keep in mind that you are doing home repairs to increase your home’s value. So, keep that in mind before you take on a job that could damage your home. The first thing that comes to mind is plumbing repair. While it might sound like a good idea to save some money and skip the plumbing contractor, it may end up costing you more in the long run to do it yourself.
Keeping a healthy and comfortable living temperature in your home is a sign of a well-maintained property. However, you can’t do that if you have a climate control system or furnace. Hiring a professional to do furnace repair or bringing in an HVAC specialist will increase value and make showing your home a more comfortable experience for the potential buyer.
Clean, Clean, and Clean Again
Cleaning can go a long way in terms of your home value. It might sound like a no brainer, but you would be surprised at the number of people who don’t have their home properly cleaned before showing it.
Most cleaning can be done by the homeowner; however, a professional cleaning service can be the only option if it is dire.
Cleaning extends to other parts of your home that you may have never considered before. For example, you may require septic tank cleaning or duct cleaning. Both are things that should be handled by a professional. And both will increase the value of your home as they’re not things that many people think to do but go a long way in terms of the longevity of your home and its components.
Make efficiency improvements
If your home is very old, chances are it doesn’t have insulated walls or windows which will cost the potential buyer money on electricity. Hiring a professional to install home insulation will also increase the value of your home. Even if you live in a warm-weather climate, insulation will help keep your home cool and hot.
Upgrading your home’s windows, doors, and siding to energy-efficient options could save you big bucks on electric and earn you even more once you sell.
Add Visual Appeal
Home beautification is one of the best ways to increase the value of your home. Believe it or not, many cheap home repairs can make your home sparkle like never before.
Cosmetic repairs in your home’s communal spaces will automatically increase value and improve people’s first impression of your house. Things like natural stone countertops and matching appliances (preferably stainless steel) in your kitchen will dramatically increase the value.
One of the cheapest and easiest ways to increase your home’s value is a fresh coat of paint. Both inside and out. Interior walls with scratches and scrapes will decrease your home’s value more than it would cost you just to touch up the paint.
The same goes for the outside of your home. House siding takes a beating no matter what environment your home is in. Whether you live in a four-season climate or on the beach, your siding requires a fresh coat of paint.
Unfortunately, your siding might be past the point of repair. That is when its time to hire a professional to reside in your home. You want your home to look spectacular on the inside and out if you’re going to get as much return on your investment.
Focus on Big Ticket Rooms
Putting more effort into rooms like the kitchen, living room, entertainment space, bathrooms, and master bedroom will help improve your home’s value.
The kitchen is probably the most important space in any home. Improvements to the kitchen space will pay significant dividends in the long run. This doesn’t mean you have to tear up the linoleum floors and take all your appliances to the dump. Think small things first, like cabinet doors, the sink fixture, the garbage disposal. Installing any of the items mentioned above or replacing them with newer options will add value to your home.
Having a finished entertaining space is often something that homeowners struggle with their whole life. It’s a tough and time-consuming project to finish a basement or attic. However, if done well, it is typically worth the time and money that goes into it.
Upgrading bathrooms as much as possible is a great move if you wish to increase your home’s value. No one likes a dingy bathroom, and it is easier to avoid than one might imagine.
Changing the toilet seat, adding shelving and storage, replacing your shower head, and deep cleaning tile floors are all easy and cheap home repairs that will earn you a higher return on investment.
Another way to increase the curb appeal of your home is to invest in asphalt paving for your driveway, or even just a section. While many driveways in neighborhoods are already paved, if yours is not, it might be time to invest.
Invest in Landscaping
Hiring a professional landscaper to help maintain your home will give a much better first impression of your home. When you are thinking about putting your house on the market, it is important to remember that you want it to look its absolute best. That means that the lawn must be maintained as well as the home itself.
Know What to Show
Once you’ve gotten your home to the place where you want it to be as far as improvements and cheap home repairs are concerned, it is time to put it on the market!
However, increasing the value of your home can be done at the show and ahead of time. Making sure that your home is staged properly will not only increase its value but will also increase your chances of selling.
Now you don’t want to spend more than you can afford on staging, but there are a few things to keep in mind as you prepare your home for viewings or an open house.
Staging your house is all about presenting its most valuable features while highlighting the small details that you have worked so hard to improve. This means that you want absolutely everything to be clean as a whistle and no speck of dust out of place.
You don’t want to show your home while you live in it. Personal clutter or décor might deter potential buyers. They might not be able to picture themselves in a home that is filled with your stuff. For this reason, you will want to get your home down to the absolute bare minimum as far as decorations and furniture while making sure it doesn’t appear empty.
Maintaining a home isn’t easy, and it isn’t always fun, but with a little dedication, cheap home repairs can become a very rewarding task. No matter what your home is valued at now, doing some of the above repairs will increase the value of your home when it is time to sell. So go ahead, make a plan to increase the value of your home, and get as much back on your investment as you possibly can.