Not all home improvement projects are created equal. Some renovations may cost a lot but not add significant value to your home. This tends to be the case for things like room additions, which almost always cost more than the added value onto your home. This list goes in the opposite direction: Here are some inexpensive home improvement projects that will not only increase your enjoyment of your home, but will also increase the home’s value.
1. High Quality Ceiling Fans
In a recent National Association of Home Builders survey, ceiling fans ranked No. 1 as the most-wanted decorative item. If your ceiling fans are outdated, spending a few hundred dollars to get new ones is well worth the investment. Firstly, a new ceiling fan is practical. If they haven’t been updated in a long time, chances are a new one will be more energy efficient. Replacing the standard cream colored fan will make your home feel instantly less dated as well. Aside from that, the new look can give your home a high-end feel that isn’t as costly as other finishes.
Mature trees can be worth as much as $10,000 toward the value of your home. Trees also protect your home from the elements and prevent erosion. A nice, shady tree in the yard can do wonders for your curb appeal, as well. It’s a good idea to talk to an arborist about what trees to get and where to plant them. This way, you can ensure that you don’t plant too close to the house or accidentally bring in an invasive species. Another positive to talking to a professional: if your trees are still young, buyers may be concerned about how big they’ll grow and any issues with roots spreading. Having the arborist’s professional opinion will put buyers at ease and they can instead think about that great tire swing they’ll be able to put in.
3. Energy Efficiency
Buyers are increasingly interested in saving energy, so any efficiency update is worthwhile. Like the ceiling fans, most electrical items will increase the energy efficiency of your home simply by being newer. One of the most popular energy efficient updates we’re seeing is people installing smart thermostats in their home. Most likely, you’ve heard of Nest, which runs for around $250, and can save you a ton of money in yearly heating costs. Generally easy to install, it’s a quick way to bring your home into the future, and give your home an stand out selling point.
4. Outdoor lighting
Exterior lighting is great for highlighting the accents of your home. It helps tie the interior and exterior into one living space. Lighting fixtures on a back patio will give the impression that the space is finished and all the new owners will need to do is set up their furniture to start entertaining!
You can finish a room with crown molding or railing for as little as $1.50 per foot if you take a DIY approach, and it’s extremely desirable among prospective buyers. Just that little addition makes a room seem richer, and coupled with a your new ceiling fan, can turn an average living room into a high-end one for way less than a full remodel!
Hopefully, this has given you some ideas for ways to gain value in your home without having to spend a ton of money. Even if you’re not ready to sell yet, these updates are a great idea to improve your home’s worth and your quality of living!