Spring and summer are the hottest real estate seasons. If you plan to place your house on the market, focus on changes everybody cares about while spending as little as possible on improvements. Prioritize these five swaps to boost home value and maximize your returns.
Light Bulbs
Upgrade to LED lighting to boost your house’s marketability. About 48% of real estate agents say energy-efficient home features are all the rage. Having traditional lights can turn off green-minded buyers.
LED is super sustainable. Unlike incandescent lights and compact fluorescent lamps that waste 90% and 80% of the electricity they consume, respectively, residential LEDs emit little heat. Plus, they can last up to 30 times longer than their conventional counterparts.
LED lighting is today’s standard. Its absence can drive down home values, so making the swap is worth it. These eco-friendly lights can jack up your house’s price enough to multiply your initial expenses many times.
Furniture Hardware
Update your knobs, pulls, handles, faucets, hinges and locks to tie your rooms together. Visual harmony is more aesthetically pleasing than incongruity. More homeowners prefer a cohesive house than one with clashing spaces.
Regarding finishes, matching and blending have unique merits. You can go either way and increase the value of your cabinetry, sinks, doors and windows.
Hardware pieces individually cost a few bucks, but you can save when you buy in packs. Go with a design that appeals to the majority instead of choosing based on your personal preferences. A new set of hardware can make your interior spaces look better in photographs and attract buyers wanting to avoid any renovation.
Insulation
Install new insulation material to increase your house’s energy efficiency. Adequate insulation is one of the elements of a complete thermal enclosure system designed to reduce heat loss and eliminate air leakage. About 90% of American houses are underinsulated, so improving this area of your property can separate it from the rest.
Insulation upgrade costs vary by material. For instance, loose-fill fiberglass — one of the most affordable products out there — comes in $1,000-$2,400 price points.
Spending four figures at this stage may be counterproductive, but Realtors are confident you can recover 100% of your expense at resale. It’s a win-win situation — your home value will spike by attracting practical and environmentally responsible buyers and you’ll recoup everything you spend when it changes hands.
Interior and Exterior Colors
Switch to neutrals to make your home universally appealing. Everyone has favorite colors, but grays, browns, whites and blacks are the most forgiving. Rarely do people dislike them and they can mesh with most hues.
Be mindful of quantity to achieve a desirable psychological effect. As a rule of thumb, use lighter neutrals in large doses to create a sense of airiness and serenity and treat darker ones as accents.
Color combinations are endless, but you can draw inspiration from trends. For example, black has been the top trending color for front doors in 2022 and 2023, making it the safest choice for your home exterior’s focal point.
Garage Door
Replace your old, outdated garage door to receive high offers for security-conscious individuals. A new garage door also takes your home’s energy efficiency and weather resistance to a new level.
Like insulation upgrades, garage door replacements have a 100% return on investment and cost upwards of $2,000. Many homebuyers will match your expenditure as a thank you to you for dealing with the renovation’s hassles on their behalf.
A word of caution — this project can backfire if you overlook aesthetics. The garage door is a prominent visual element from the street, so it dramatically impacts your house’s curb appeal. Take the cue from your entry door’s design to nail its color.
Boost Home Value With Strategic Swaps
Updating these elements allows your listed property to spend less time on the market. Put a premium on timing. After tackling these swaps, sell your home as soon as possible to keep inflation from eating into your returns.
