10 Inexpensive Ways to Boost House Value

This Old House lists 10 inexpensive ways to boost your house's value. They do it by getting suggestions from real estate brokers recommending what sellers can do to spruce up their homes (for sale) without spending a ton of money. But really, these tips will work whether you're selling your home or simply want it to look nicer. Here’s their list:

1. Create Space.

2. Prune, Limb, and Landscape.

3. Let in the Light.

4. Don't Put Off Care and Maintenance.

5. Go Green.

6. Home Begins at the Front Door.

7. What's Under Your Feet?

8. Easy Bath Upgrades.

9. Neutral Wall Colors.

10. Remove the Question Marks from Your House.

It's a good list IMO. Here's my take on these ten:

1. We could probably remove a wall or two if we wanted, but I'm not sure we want to -- or that it would be that inexpensive. The #1 candidate for such a change would be to knock down the wall between our dining room (which we now use as a school room) and our kitchen, making our kitchen much larger. We'd also need to change the flooring so the two matched (now one is tile and one is carpet). But I like it separated and while the kids are still in school, we need the area set apart.

2. We had a couple trees and a big bush removed two years ago. They had all been planted 20 years ago and were now too close to the house for the size they were. Two of them were up against the house and were always a battle to keep off the house. One was "the bush that ate the garage" -- it was so big it made it difficult to get into one side of the garage. Cutting them all down made a HUGE, positive difference in how the house looked.

3. One advantage we have lighting-wise is that our home has three skylights -- one in our bedroom, one in the kids' bathroom, and one in the living room. The skylights have their own set of challenges in a climate that gets a good amount of rain and snow, but they let in so much light they are worth the extra effort IMO. We had the opportunity to have them covered over when we had our roof re-done a few years ago and we opted not to -- they are just that valuable to us. That said, the rest of our lighting could use some work as I think our house can be dark in a few areas.

4. We're generally pretty good on maintenance as we want our stuff to last as long as possible (so we take care of it.)

5. The "green" tradeoff is the higher costs of the new system now versus the cost savings later. We've done pretty well since we replaced our furnace and that is to be expected. But investing in something like solar panels would be a whole different story from a cost/benefit standpoint (especially where we live).

6. We got a new door almost two years ago. The house does look better both inside and out, but I wouldn't say the change is gigantic. And the door was expensive, so it's probably not going to give you a quick payback (we got ours for privacy/security as much as we did for looks.) We also had our concrete steps in front sprayed with textured material several years ago. It turned the bland-looking concrete into what looks like a nice bricked set of stairs. Finally, we pulled out a large juniper bush in front (by the door) several years ago and I replaced it with a rose garden. I regularly get compliments throughout the summer on how nice my roses look.

7. I'm not sure putting in new flooring would be a good deal if you were selling quickly. I would think you'd need several years of use and then a sale to make the finances work.

8.  I know we could make our bathrooms look 100% better with a few changes. I think I should get on those now so we can enjoy them.

9. I like neutral wall colors anyway, and our house is all neutral. So we'd simply need a touch up before selling. But before I leave this note, let me say that a little bit of paint can make a TON of difference in how a room looks.

10. I have a list of question marks that I've been working on for years. Seems like I just get one done and two more pop up. Isn't that just the life of a homeowner?

I think many of these things are no brainers if you're selling because they are preferred by the majority of people (things like new/cleaner bathroom fixtures and everything working). But some of the others seem like you could be spending money that makes your house less appealing to a large group of buyers. For instance, let's say you add wood floors. Many people prefer carpeting. Or you knock out a wall. Many people like their rooms divided.

My net takeaway is to do with your house what YOU enjoy, as long as you keep it within reason (no black-light paint, rock yards, etc.). Keep everything working and in good condition and take care of the basics (like the trimming outside.) If you do these things, then all you'll need is a bit of sprucing up (like painting) if/when you decide to sell.

Comments

[Carol]

I live in a condo/apt. in a small city in the Northeast. Two years ago, I updated my kitchen by taking down wallpaper, repainting the walls and inside/outside of cabinets, added crown molding, a new sink and faucet, added hardwired under-the-cabinet lighting, a ceiling fan, and recessed lighting over my work area island. It cost me about $4000, all work down by contractor and electrician. It was well worth it.

[texashaze]

Install granite counter tops and hardwood floors.... that's all our realtor preached when we sold our house in 2010. It's probably a $5k to $8k investment where we live. I'm not sure it brings more sale value but it helps your house stand out among the competition. In a buyers market you've got to stand out.

[Matt]

Another way of creating space is a shed. That is if you have the space for one. You could put anything that is in the garage to clean up the look of a garage or other areas.

But a better suggestion would be just eliminate crap in your house. How often the house looks empty when we first move in but then we buy stuff that will expand to all useable space in the house.

Lighting is well worth looking into. I replaced several light fixtures in order to use CFL lighting in places where lights are used the most. I figured pay back was 2 years for most and the lighting quality improved dramatically.

[MC]

I just hope my neighbor gets rid of his hideous bright-blue giant trampoline that has been sitting in his yard year-round for the past 4 years even though no one has jumped on it for the past 3 years. so. ugly.

[DT]

"7. I'm not sure putting in new flooring would be a good deal if you were selling quickly. I would think you'd need several years of use and then a sale to make the finances work."

New flooring might be the right answer when many people have looked at the house but none have made an offer, and there is not some other obvious problem. In that case it makes sense because it might make the house sell. Just don't spend much on it.

@texashaze
Many people seem to like the hardwood floors and granite counters, but because of that now they are everywhere and may not actually help your house stand out. Like with carpet, it might make a house sell that wouldn't sell otherwise, but $5-$8k is a lot to spend if you don't need the extra help getting it sold. I wouldn't do this unless I was going to live there for a while (and actually liked these things).

[Kurt @ Money Counselor]

How about creating a way to generate income from your house? Helps you now, and adds to house's value due to "mortgage helper."

We have a one-bedroom, self-contained, separate access apartment in our house. We live in a world-class tourism area, so we rent for one week to two month stays to visitors. No long-term tenant hassles, and if we choose not to be landlords for a while, we can easily do that. Took in $6,000 last year in rent with little incremental expense and a 50% occupancy rate.

[RJB]

A few thoughts. First, regarding paint. It's true that a freshly painted room in a neutral color has a lot of eye appeal, but many people do not take time to prepare everything properly. Any nicks, nail holes, etc., should be fixed and sanded smooth before you open the paint can. Do not even dream of painting over outlets or light switches. Do not paint the walls, trim, doors and windowframes the same color, unless the bland look is what you're going for.

Regarding floors, a lot depends on what is there now. If you have hardwood floors, and they're not in good shape, having them professionally sanded and refinished is something that is very likely to pay off. It's not that expensive or difficult, especially after you've moved your furniture out. We had the same crew install hardwood in the 2nd floor of our new home, replacing some very cheap-looking imitation Pergo. (Pergo is imitation wood, and this was imitation Pergo -- ha-ha!) We had the house re-appraised a few years later when interest rates fell and we refinanced, and the value of the house went up by more than the cost of the new flooring.

I like the suggestion about space. People want room to store their stuff. Look at do-it-yourself websites for ideas on how to add storage shelves to places like garages, under stairs, etc.

One last thing, not mentioned here but important anyway. No one likes a musty cellar. Using a dehumidifier can reduce the dampness almost immediately. I'm surprised every home seller doesn't know that trick, but it's more common than you'd think.

[Christa]

We could create space in our basement. Right now, the space just collects junk and houses the treadmill (that I only use when it rains or snows). We could definitely repurpose the room for very little money -- but paint is a must!