Increasing the value of your home

Michelle —  January 31, 2013 — 2 Comments

We are thinking about buying our next house in 2014. We bought our current house almost 4 years ago, and while it sounds bad, we are ready to move into our forever home. We have been thinking about how the economy has probably tanked the value of our house, and how we would like to see our house with at least somewhat of a gain, or as little of a loss as possible.

There are many things that you can do to increase the value of your home. Looks do mean something, and it can mean that your house will sell for a little higher, and possibly a little quicker. No one wants to pay for a house longer than they need to and incur additional charges.

Ways you can increase the value of your home:

1. Remodeling the bathroom(s)

When we were first looking at houses, we always looked at the bathroom. If the bathroom was severely outdated, then we always thought twice about the house. Both of our bathrooms are pretty well updated, but there are other things that we can do to them to increase the value.

We need to replace the mirror in the bathroom, preferably something with a frame and a bigger mirror. Then we also want to change the lighting as well. I’m guessing that this will cost around $500 if we do this ourselves. I have read that changing things like this will recoup most of the value when you do sell your house. Other things we could do is get rid of the sliding bathroom door and change it into a better glass and something that is more modern.

2. Adding more curb appeal

Right now, everything in our yard is pretty much dead. Last summer there was a heat wave and we were told not to use our water or water lawns because it hardly rained and we had many above 100 degree days. This means that EVERYTHING outside died and is brown.

We need to replant grass seed, plant some flowers, and make everything more green. Who wants to buy a house with spotty grass? We also want to make a nice garden in the backyard as well. We have many ideas and a lot of things that we need to start this year, if we want to put our house on the market next year.

3. Having a nice basement

We currently have a nice basement. It is finished, has a big laundry room, a big storage closet, a bedroom, and a living area. It’s the same size as the upstairs of our house and is a nice addition. We looked at many houses, and the ones without basements we pretty much through out of the picture. We wanted the extra space badly.

If you don’t have a finished basement, then the cost may be substantial if you cannot do it yourself. My friend was able to pay someone she knew $10,000 for her basement to be completely remodeled. It was well worth it for her though. She has a home built in the early 1900′s, and basements back then are not the same as unfinished basements today. Everything had to be gutted. They built a bar, bathroom with a hot tub, and a play area. It is very, very nice and definitely increased the value of their home greatly.

4. Paint

A little paint can go a long way. Painting the walls inside your house, trim, baseboards, and the exterior of your home is always a good idea. Fresh paint nearly always makes a house look a lot better, and is a relatively cheap fix compared to other things you could do to your house.

Have you tried any of these ways to increase the value of your home?

Michelle

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Michelle is the founder of Making Sense of Cents, a personal finance and lifestyle blog about budgeting, traveling, life, and student loans. Read further on her story and life, and you can also connect with her on twitter.

2 responses to Increasing the value of your home

  1. I’ve found painting to be the cheapest and most effective way to increase the value of a house. If you’re budget doesn’t allow you to do any of the other things on the list, go with painting. You won’t regret it!

  2. Nice tips. Bathroom is something I am saving for right now. The previous owner didn’t invest in the house, so there is a lot to improve. Just need to save the cash for it.

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