Doing it yourself can be more than just a way to fill idle hours, and save a little bit of money on handyman services. The right project won’t just be enjoyable, it may also raise the value of your property.
The real-estate market is volatile by nature, but there are simple, low cost things you can do yourself that translate into potentially big returns. Today we will look at several do it yourself projects that you can take on to increase the value of your property. Read on!
Paint Your Front Door
Painting your front door is, statistically speaking, one of the best ways to increase the value of your home. The reason for this is pretty simple. Most home improvement projects (additions, renovations, etc.) cost a significant amount of money to perform.
That means the increase in value you see is minimal relative to expense. But smaller, cosmetic touches, like painting your front door are only as expensive as the paint you use. The risk is lower, and the gains can be much higher.
Painting your door the right color can translate into a $6000 increase in the value of your home.
Granted, this statistic is somewhat misleading. It reflects the value of curb appeal more than it does the value of a decent door. Buyers are willing to pay more for a house with an appealing exterior. A good paint job can boost your house’s appearance and improve the overall perception of your home.
This in mind, painting shutters, or even revamping your landscaping can be similarly beneficial.
Restore Your Hardwood Floors
If you live in an old home, there is a decent chance that there are hardwood floors lurking beneath your carpeting. The only way to know for sure will be to check by lifting carpet in a discreet corner of your room.
If you do discover hardwood, it can be valuable. New hardwood floors can translate to a 2.5% increase in the value of your home.
Granted, these won’t be new floors, so the increase in value they provide also will not be as high. However, your personal expense will also be far less, which will result in a higher ROI
Keep in mind that revealing the old floor won’t be enough to get the results you are hoping for. You will probably also need to restore and refinish them to get them back to their former glory.
Stain/Repaint Kitchen Cabinets
Kitchen remodels as an investment can be somewhat dicey. The average kitchen remodel can add $20,000 to the value of your home, but it might also cost $35,000.
Staining or repainting your kitchen cabinets is a relatively simple do it yourself project with real potential for a return.
A do it yourself backsplash or even cabinet hardware upgrade (handles, knobs, etc) are all also cost-efficient ways to give your kitchen a soft, low-cost upgrade that still has bankable potential.
Keep Everything Running Smoothly
The average homeowner has nine unfinished projects going on in their house at any given time. Small things, like a drippy faucet, or a creaking floor board that they’ve wanted to fix for a long time, but haven’t.
These small issues aren’t only irritating, they also contribute to the impression your home leaves the people that see it.
Fixing these things will not literally add to the value of your home. However, not fixing them can potentially decrease its value, at least in the eyes of the people who would consider buying it.
To protect the value of your home, try to keep up on home maintenance.
Conclusion
Sometimes it is the smallest touches that have the biggest impact. A well executed do it yourself project can accomplish a lot on a small budget.
A decent paint job can go a long way towards maximizing the value of your home, so bust out the tool bag, and get to work!
