We often get asked, “Should I upgrade my home? This isn’t our forever home so is it really worth it to spend the money?”
My answer is always the same. It really depends on the type of improvement you’re considering, but almost any improvement to a home is a great idea and will add value.
You should absolutely get excited about making the improvements your heart desires so that you can create a home you love to live in, because even if you sell and leave one day, prospective buyers will appreciate you for giving them a home they’d love to live in.
Maybe your dream home is out of reach today, which is often the case for most people. That shouldn’t mean you can’t love the home you’re in. Changes both large and small can dramatically improve how you feel about yourself, your home, and also add value at the same time.
The first step is tackling your mindset. Take a minute to stop looking at what your home lacks and look around your home with a loving eye. Start small but start somewhere.
1. Deep Clean and Reorganize
A great place to start is with a thorough declutter and clean. And while you’re at it, explore reorganization possibilities. It’s amazing how different a space can look simply by rotating the couch, getting rid of those ratty throw pillows, or putting the bookshelf on a different wall.
2. Express Yourself
No matter what, your home should be an expression of you and your family’s personality. Just because something is “hot” or trendy, doesn’t mean it’s for you. Find little, budget-friendly ways to bring more of your unique qualities into your home design.
3. Make Big Plans
Make a list of both long and short-term projects that are feasible for your situation. Your ideas may not be as far out of reach as you think, and sometimes, simply making a list and planning things out will give you the boost you need. This is also a great time to really think about the big projects you think you want to tackle to make sure they’re adding value to your home so you can reap the benefits when you do sell.
Speaking of big plans…
So what should you invest your time and money into? What changes will add value to your home and have the biggest pay-off?
The two biggest areas that give you great bang for your buck are the kitchen and the bathroom. While a full remodel is a tempting thought, think carefully. For example, you can expect to recoup 62.7% to 81.6% of your investment on a kitchen remodel but adding an $80,000 kitchen to a $125,000 home isn’t a good idea.
In the kitchen, start small. Replace the faucet, add some hardware with personality, and replace old light fixtures. Instead of replacing the cabinets, give them a facelift with some paint, and install new drawers. Also consider upgrading your appliances, especially if they don’t match or aren’t energy-efficient. These are small, manageable updates that make a huge difference.
Similar changes in the bathroom will put things in a whole new light. A new mirror and light fixtures can quickly perk things up. Consider installing new plumbing elements, giving the walls a fresh coat of paint, and re-grouting the bathtub.
Here are some other areas you can consider giving your attention to:
1. “Extra” Spaces
Look at the “extra” spaces in your home with fresh eyes. Do you have a basement or attic? What about that little side room you’ve been neglecting? Are there any small changes that will make those spaces more usable or are there ways you can freshen them up that will bring you joy and add value?
2. Upgrade Floors
Flooring is an important element in a home. The options are endless but some can get costly. Consider replacing carpet in high traffic areas with a more durable material such as tile or engineered hardwood.
3. Improve Curb Appeal
Set aside a little cash and a sunny afternoon for some front-of-house sprucing up. Install a new front door, add some shrubs, scrub the siding, and touch up any worn areas. Having a fresh face to come home to will not only perk up your mood but add value to your home.
Hopefully this inspires you to look at your current home with fresh eyes, not only so you can be happier in your home but also so you can make smart decisions about where you put your time and money.
If you’re curious about how you can maximize your improvement investment and turn it in to equity? Call us! We would be happy to set up a consultation. (949) 412-2808
