Home remodeling can help bump the value of your house and attract more buyers, but they also cost a lot of money – we have some great tips on how to save up and how to stretch the money you’ve saved. The good news is that there are plenty of affordable home remodeling projects out there, and they can do wonders for the value of your home.
So if you’re looking for a cost-effective way to improve and remodel your property then here are several ideas that may help you do just that.
A New Color Scheme
This type of remodeling project is fairly simple and it usually costs between $200 to $500, depending on your choice of colors and the number of rooms that you wish to repaint. It is also by far one of the easiest and cheapest projects that you can try. So if you’re strapped for cash, this is a good choice for you to try.
Over half of real estate agents recommend investing money into a new paint job, and the end result may even add a few hundred dollars to the final sale price. A new coat of paint can hide flaws on your walls, enhance lighting and generally create the impression that your house is brand new.
One word of caution though. You should consult your agent and a professional painter before doing anything as poor paint jobs can may turn off certain buyers, which does just the opposite of what we are trying to achieve here!
Add A New Room
Kris Krohn of Limitless TV argues that adding an extra room in your home or property will drastically boost its perceived value, which in turn will increase its price. This is because most people perceive houses with many rooms to be larger and better than homes that have few rooms even if they are of similar size and quality.
Adding a room usually costs between $80 to $200 per square foot, so plan your budget in advance. The good news, though, is that you won’t even have to furnish this room once it’s finished. All you need to do is to keep it clean and have your realtor emphasize its existence to potential buyers.
Improve Your Property’s Landscape
A landscape remodeling project is a versatile type of project that costs between $300 to $4,000. These projects are useful for two reasons. First, they make your property look good on camera (perfect when selling a property), and secondly, they will allow you to either remove or repair most of your home’s exterior problems, like dead trees, cluster of weeds or old walkways.
Low cost landscape remodeling projects usually only involve some fertilizer and weed control, and they cost no more than $300. If you want to add a walkway or some additional greenery, however, then you will need to spend $1,000. A full landscape remodeling project, however, costs almost $5,000.
Remodeling your landscape certainly does cost a lot of money, but according to a recent survey by the National Association of Realtors, a $300 landscape remodeling project can lead to a $1000 increase in property values.
And if you wanted to save even more money, why not do it yourself? Labour cost equates to around 30% of the cost when it comes to remodeling any part of the home!
Another great way to improve the appearance of your landscape is to give that old shed in the bottom of your garden a face lift, we have the full process on how to do this right here.
Convert A Room
Is there a spare bedroom full of boxes and clutter? Then get rid of the trash, take out old furniture and there you have a whole new room to show off! If you’re feeling a little more adventurous you could even change this space into an office or a study, giving you more leverage on your buyer as you are now giving the perception of a more interesting space. Everyone loves a home with a study!
Perhaps your garage is now becoming a place for old used junk, then why not sell the things you don’t need to create extra room (and to help generate money for your remodeling projects!) and convert it into something more practical such as a guest room or perhaps another bathroom – these things will surely impress a potential buyer.
By turning a useless room into an extra bathroom, kitchen, bedroom or guest room, you will be able to increase the value of your property, and get a better deal for it on the market.