7 DIY Projects to Boost Your Home’s Resale ValueArticle originally posted on www.erieinsurance.com(opens in new tab)
Whether you need more space for your growing family or are relocating for a new job, moving to a new home is something most of us will encounter eventually.
But while looking for the perfect house can be an exciting process, you’ll also be faced with the reality of selling your current one.
Putting your home on the market is a daunting task. Not only do you want it to sell quickly, but you also want to get the most out of your investment. After all, the more money you make at the sale, the more you’ll have available to put down on your next house.
See also: Home Buyers Reveal What Features They Would (And Wouldn’t) Choose Again
Wondering if there are any simple improvements you can make before the “for sale” sign goes in the lawn?
Here are seven easy do-it-yourself projects you can tackle to get the best bang for your buck – and impress a potential buyer:
- Clear your clutter. Believe it or not, experts say this simple project can add nearly $2,000 to your home’s value! A full house can distract buyers and make rooms look smaller. So go room by room to clean out anything that isn’t absolutely necessary. Use large trash bags or empty boxes to throw away what you don’t need and donate items in good condition.
- Update your kitchen. Kitchen remodels can be expensive. But you don’t have to completely gut your kitchen to wow a potential buyer. Simple updates like new appliances, countertops, backsplash, or flooring can give your room a more modern look. Installing stainless steel appliances or quartz countertops can cost as little as $5,000 while boosting your home’s resale value between 3-7%.
Want more inspiration at a lower price? See what made our list of easy and affordable kitchen upgrades.
- Landscape your yard. Good curb appeal has been shown to increase a home’s value between 5-20%. Cut back any overgrown plants and trim your trees and bushes. Pull those weeds and put down some fresh mulch. A little landscaping will go a long way to ensure the exterior views of your home aren’t blocked. And it will make your house look like a place buyers want to live.
- Paint your walls a neutral color. Studies have shown a fresh coat of paint can bump up your home’s value between 1-2%. Consider using a neutral color like light grey or a shade of white. This will help cover any stains, scuffs, or chipped paint. In turn, you’ll liven up the space and help a potential buyer imagine how they can make your home their own.
- Improve your energy efficiency. Lower utility bills can help attract potential buyers. Projects like adding insulation, high-efficiency windows, energy-efficient appliances, or LED light bulbs can all reduce the energy your home uses. Overall, making sure your house isn’t an energy hog can improve its worth between 1-3%.
- Make changes to help people of all ages. Consider adding features to your home that make it more accessible. That may include installing a walk-in shower or creating a master bedroom on the main floor. These “universal design” elements could increase your home’s value between 1-2%. Learn more about how universal design can help you age in place.
- Be smart with technology. Technology evolves fast. But products like a smart thermostat or keypad locks can be useful for years to come. Features like these can help boost your home’s value between 3-5%.
You’ve worked hard to get where you are today. The people and things in your life are a big deal. That’s why we think the insurance that protects them should be a big deal, too.
At ERIE, every homeowners insurance policy comes with a local agent who’s there to help you understand and feel confident about what you’re buying and how it works. And, yes – we offer 100% guaranteed replacement cost* for worry-free coverage that protects you without surprises.
Find a local agent in your neighborhood to request a quote and get the conversation started.
*Guaranteed Replacement Cost applies to dwelling and requires home improvements over $5,000 to be reported within 90 days – not available with all policies and in all states. Coverage of costs to comply with laws or ordinances is subject to limits. Depreciation will be deducted until repair or replacement is made. Talk to an ERIE agent for more information.
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