Many of the home renovations that pay off can be costly, but here are some affordable renovations that will give you the most bang for your buck on a budget.
1. Energy Efficiency Upgrades
Improving your home’s energy efficiency can make a bigger difference than cosmetic upgrades when it comes to adding value. The number of energy efficient homes continues to rise and lots of home buyers prefer energy efficient homes because of potential long term savings. Adding attic insulation and making upgrades to your windows and doors are less expensive than solar panels.
2. Small Kitchen Renovations
Renovating your kitchen can improve your home’s value and it doesn’t have to be an expensive full kitchen renovation to make a big difference. Minor things like painting the cabinets, installing new cabinet doors, and changing out cabinet hardware can make buyers happy. Consider upgrading your countertops and install new appliances if needed, and you don’t need to invest in the most expensive appliances to make your kitchen look fantastic.
3. Small Bathroom Renovations
You can make a big impact on buyers with minor bathroom renovations like regrouting the tile, replacing caulk, and updating the fixtures, mirrors, and toilet. Smaller projects like these can give your bathroom a quick facelift on a low budget.
4. New Paint
One of the best returns on investment is also one of the least expensive. A fresh coat of paint inside and outside can really make your home shine. Interior color trends change over time, but it’s usually best to stay away from dark colors and pure white. Think about the impact the color will have on home buyers and select colors that will make it easier for them to visualize themselves living in your home.
If you don’t need new paint on the exterior, just clean it up by power washing it. If your front door is old and you aren’t going to replace it, bring it back to life by painting it.
5. Upgrade Floors
Upgrading floors can add value and make your home look well maintained. Hardwood floors are in high demand, but they are more expensive to install than other types of flooring. Replace tile and carpet where needed. At a minimum, refinish hardwood floors, wax tile, and get carpets professionally cleaned. If you’re on a budget, focus on upgrading floors in the kitchen and living areas.