10 High-Impact, Low-Cost Projects for a More Valuable Home
A little investment can go a long way when it comes to increasing your home’s value. Many homeowners tend to focus on major renovations, but small, inexpensive home projects can yield significant returns on investment (ROI).
Here, we’ve compiled a list of 10 affordable home improvement projects that can boost your home’s value without breaking the bank.
Fresh coat of paint
A fresh coat of paint can revitalize your home, both inside and out. According to HomeLight’s Top Agent Insights Survey for Q3 2021, 80% of real estate professionals agree that painting your home’s interior can lead to a 107% ROI. Similarly, exterior paint jobs can provide up to 51% ROI.
Upgrade lighting fixtures
Switching outdated lighting fixtures for more modern and energy-efficient options can make your home more appealing to potential buyers. The NAR report reveals that upgrading lighting fixtures can yield an average ROI of 72%.
Landscaping improvements
Curb appeal is vital when selling a home; a well-maintained landscape can make a lasting impression. A study by Virginia Tech found that landscaping improvements can increase a home’s value by 12.7%. Consider planting native plants, adding mulch, and trimming trees and bushes to create an inviting outdoor space.
Kitchen updates
Kitchen updates don’t have to be costly. Simply replacing cabinet hardware, adding a backsplash, or installing a new faucet can make a significant difference. According to Remodeling Magazine’s 2023 Cost vs. Value report, a minor kitchen can yield an ROI of 85.7%.
Bathroom upgrades
Minor changes to a bathroom, like updating your faucets and vanity, can yield high returns. For example, the 2023 Cost vs. Value report estimates that a midrange bathroom remodel can provide an ROI of 66.7%.
Replace or clean carpets
Replacing worn-out carpets or cleaning them professionally can instantly refresh a room’s appearance. HomeLight’s Q3 2021 survey found that replacing carpets can lead to a 50% ROI while cleaning them can result in a 169% ROI.
Add energy-efficient features
Energy-efficient features, such as programmable thermostats, LED lighting, and Energy Star-rated appliances, can save homeowners money on utility bills and make a home more attractive to potential buyers. The NAR report found that energy-efficient upgrades can lead to an ROI of 68%.
Install new door and window hardware
Replacing outdated door and window hardware with new, modern options can give your home a fresh look. According to a 2021 report from Zillow, updated hardware can provide up to 80% ROI.
Declutter and organize
A clutter-free home is more appealing to potential buyers. Invest in storage solutions like shelves and closet organizers to maximize space and create a clean, organized environment. The NAR report estimates that decluttering and organizing can result in an ROI of 65%.
Deep clean your home
A thorough cleaning can make your home more attractive and show potential buyers it’s well-maintained. The HomeLight Q3 2021 survey found that deep cleaning can yield an impressive 935% ROI.
Inexpensive home improvement projects can significantly impact your home’s value. Focusing on these ten areas can enhance your property’s appeal to potential buyers without breaking the bank. Remember, a little investment can go a long way in boosting your home’s value and attracting more buyers. Ultimately, these affordable upgrades can help you sell your home faster and for more, making them well worth the time and effort.
