Boost Your Home's Resale Value

Every home seller wonders, “How can I increase my home's value without breaking the bank?” If you’re flipping a property for, making smart, cost-effective improvements is key. So what are some examples of this? Continue reading as we explore top home-improvement projects that provide the best return on investment (ROI) and help your property stand out in the market.

Clean and De-Clutter

When selling your home, time is scarce. Yet, a clean and clutter-free space can be one of the biggest selling points and a major value booster. Experts agree that cleaning and de-cluttering is one of the most cost-effective projects you can complete.

According to a National Home Improvement Survey by HomeGain, a thorough cleaning and de-cluttering session might cost around $400 yet yield an ROI of over 400%. This project may seem simple but is critical. Tasks like dry-cleaning drapes, polishing interior woodwork, oiling squeaky doors, eliminating pet odors, and removing oil spots from the garage not only refresh the space but also signal to potential buyers that the home has been well-maintained. A spotless home makes a strong first impression in photos and showings.

Paint Interior Walls

A fresh coat of paint can transform a room. With the right color choice, even older homes can feel modern and inviting. According to HomeGain, an interior paint job can yield an ROI of up to 107%, costing less than $1,000 while adding over $2,000 in value.

When choosing paint, stick with neutral tones like white, off-white, light grays, or browns. These colors appeal to a broad range of buyers and create a blank canvas for them to envision their own style. Popular choices such as Nantucket Fog, Translucent Silk, Polished Pearl, and Nimbus Cloud work well to brighten spaces without overwhelming potential buyers.

A freshly painted home can be marketed more effectively to investors and buyers who value a move-in-ready property. The simplicity of neutral colors means your home is more likely to fetch a competitive price to browsing buyers.

Landscaping

Curb appeal is the first impression of any property, and landscaping plays a pivotal role. The front yard is often the first image buyers will see, so a well-maintained exterior can set the tone for the entire property.

Investing time in landscaping may include repairing damaged fencing, re-staining a deck or porch, keeping the lawn mowed, raking fallen leaves, sprucing up walkways, and re-sodding dead grass areas. According to landscape economist John Harris, attractive landscaping can add up to 28% to your home’s overall value.

For sellers aiming to reach a large number of buyers, an impressive exterior is crucial. Browsing buyers often rely on high-quality photos and curb appeal to quickly assess the property’s potential. Even if you choose a DIY approach, careful attention to landscaping details will boost the overall perception and help your property stand out in competitive markets.

Upgrade Lighting

Modern, efficient lighting can instantly update the look of any home. Upgrading fixtures not only brightens rooms but also improves the overall ambiance, making the home feel more welcoming. Modern lighting solutions, like LED fixtures, dimming switches, and upgraded outlet covers, can modernize your space with relatively low investment.

HomeGain notes that upgrading lighting can yield an ROI close to 300%. Small projects, such as installing dimming switches in common areas or increasing the wattage of bulbs, can have a significant impact. It’s also important to check that all lighting, both indoors and outdoors, is functioning properly. Good lighting can enhance architectural features and improve the property's overall appeal.

Properties that are well-lit tend to photograph better for listings, and this can help it be sold more quickly. Buyers will appreciate the enhanced aesthetic, as it suggests a property that requires minimal immediate upgrades, saving them time and money.

Revamp Your Flooring

Flooring is often one of the most visually prominent features in a home and can greatly influence a buyer’s perception. Whether your home has carpet, hardwood, or tile, giving the floors a makeover can lead to significant dividends when it’s time to sell.

Repairing floors can be a relatively affordable project. On average, spending just over $900 on repairs can deliver an ROI of more than 100%, according to HomeGain. For those on a tighter budget, consider options like deodorizing pet odors from carpet, steam cleaning existing carpet, polishing hardwood floors, or thoroughly cleaning bathroom and kitchen floors.

For sellers, ensuring the floors are in excellent condition can expedite the sale process. Buyers are typically looking for properties that require minimal additional work, so investing in flooring improvements can make your property more marketable and boost the resale value.

Additional Enhancements for Greater Impact

While the projects mentioned above offer excellent ROI, consider incorporating additional enhancements to further elevate your home's marketability:

Update Fixtures and Hardware

Replacing outdated fixtures and hardware, such as doorknobs, cabinet pulls, and faucets, can give your home a modern touch. These small updates can create a cohesive look throughout the property without significant expense.

Refresh the Entryway

The entryway is your home’s introduction. Consider repainting the front door, updating the mailbox, or adding seasonal decor. A welcoming entryway can set a positive tone for the entire property.

Energy-Efficient Improvements

In today’s market, energy efficiency is increasingly important. Upgrading insulation, installing a smart thermostat, or adding energy-efficient windows can not only reduce utility bills but also appeal to environmentally conscious buyers. Highlighting these improvements can be particularly persuasive for buyers who seek properties that offer long-term savings.

Minor Kitchen and Bathroom Upgrades

You don’t have to undergo a full renovation to upgrade your kitchen or bathroom. Simple improvements, such as new light fixtures, updated hardware, or a fresh coat of paint, can enhance these spaces significantly. These upgrades often yield high returns, making them a wise investment for boosting resale value.

The Importance of a Comprehensive Approach

Ultimately, maximizing your home’s resale value requires a comprehensive approach. Each project, whether it’s cleaning and de-cluttering or upgrading flooring, contributes to the overall appeal and marketability of your property. The key is to balance cost with potential return, focusing on improvements that not only enhance aesthetics but also meet buyer expectations.

Even if you’re not planning to complete every project yourself, understanding which upgrades yield the highest ROI can guide you in hiring professionals or selecting the best vendors.Every improvement you make translates into a property that’s more attractive, both in person and online. Buyers rely on strong, well-presented listings, so investing in these projects can result in faster sales and potentially higher offers.

RCN Capital: Your Trusted Financing Partner

At RCN Capital, we specialize in providing financing solutions for real estate professionals, brokers, and investors. We offer a range of loan products including short-term fix-and-flip loans, long-term rental financing, and new construction loans. With flexible loan terms and competitive rates, RCN Capital is committed to helping your clients find success with their real estate investments. Connect with us today to learn more about how we can help your clients achieve their investment goals.