You don’t need to renovate a house floor-to-ceiling to make it more valuable. There are plenty of little things that’ll help – here are just a few of them.
Renovating a home you’ve invested in can be a difficult, stressful task and not just because tracking down the right contractors can be a tall order. You want to squeeze as much value out of your property as you possibly can, whether it’s your home or a property you’re looking to sell quickly.
But, not all the changes have to raise your stress. You might be surprised at how much value a minor change can add to a home. In my business of flipping homes, I have found that a few simple, little things can make a home much, much worthier in the eyes of prospective buyers — and make it that much likelier you’ll get your money’s worth when you sell. Here are five simple renovations that add value to your home.
Simple Renovations That Add Value To Your Home
Create Space
Generally speaking, most buyers prefer a more open floor plan. They like home layouts that create a nice sense of flow and work with all kinds of furniture arrangements. If there are any non-structural walls you can knock out or islands you can get rid of, it’s definitely worth at least considering.
Spring For Neutral Colors
How do the house’s walls look? Are they garishly-painted or glued with horribly ugly wallpaper? You’re going to have trouble selling if so – and you might want to think about repainting. When you do, spring for neutral colors rather than your personal preferences. Buyers want a blank canvas to express their own personalities and tastes.
Remember: you’re trying to sell this home, not live in it.
Do Some Landscaping Work
One area I’ve noticed that a lot of real estate investors tend to forget is landscaping. I’m not just talking about a perfectly-manicured lawn, either. Are there trees on the property? Make sure they’re pruned and healthy. A garden? Make sure it’s well-tended.
Landscaping is one of the most important things you can do as an investor, but it requires more than just busting out the lawnmower every now and then. However, the returns on investing in landscaping and outdoor living spaces are more than worth the effort.
Build A Better Front Door
First impressions are everything. The front door is the first thing most people are going to see when they look at a house. If it makes a poor impression on them, it’ll be a hard sell. Here are a few things you can do to make that impression a bit better:
- An overhang, awning, or patio
- Improve the walkway leading up to the door
- Choose a bright, bold color (which doesn’t clash with the outside walls)
- Add decorative architectural components like brackets, moldings, columns, and trim – but make sure it works with the home’s overall design
- Install windows on either side of the front door
Invest In Better Materials
What are the floors of the home made of? A few hundred dollars in material cost can pay off in resale value. If you’re installing a wood floor, for example, go for high-quality hardwood. Choose ceramic tile over vinyl where possible, and if you must install cork flooring, use floating cork.
It’s The Little Things That Count
When you’re looking to sell a home, you want to make the most of your repair and renovation budget. Even a few minor changes here and there can make a big difference in the final sales price. Think of these tips as a starting point. In any home, there are plenty more.
Armando Montelongo, Jr. is a real estate mogul, mentor, philanthropist, and speaker. As the CEO of Armando Montelongo Companies, he specializes in real estate investing and teaching his students how to strategically invest in residential and commercial real estate. Through these courses, he helps students positively transform their lives. Follow his blog at ArmandoLive.com.