Let’s talk equity! I’m always thinking of what I can do around our home to add value without spending a lot of money. Sometimes staging plays a part in selling a home for more (that’ll be another post!). But often times there are lasting home improvements that can add value for just a few dollars. This blog post is dedicated to those ideas.
Here are a few ways that have helped us create equity for little money:
- Maintenance. Be sure you are taking care of what exists in your home before trying to add updates and upgrades. Whether consciously or subconsciously, buyers notice when the caulk around the shower is cracking, the doors squeak, and the knobs are loose. Be sure you are stewarding these little things well. It will pay off!
- Paint. You’ve probably heard it a hundred times. Fresh, neutral paint will help sell a home. Even if buyers want custom colors, they can move in without having to worry about it until they’re ready.
- Curb appeal. Buyers may not even decide to walk in a home if the exterior is a mess. Consider simplifying your landscaping, freshening up your mulch, weeding, and painting the door. Buyers don’t want complicated upkeep bidding for their time. Also, exterior paint that is chipping can keep buyers from getting certain types of loan approval. Save the trouble by making sure it’s painted, or consider an allowance at closing.
- Switches. Consider updating switches, and adding dimmers. They aren’t expensive, but give a little extra “Oooo.” When buyers are checking out your home. If your switches look like this, please update: ;P
- New Hardware. Consider swapping out the builder grade door knobs or cabinet pulls with something nicer. Ikea has great knobs and pulls for cheap that look as good as some of the high end stuff. They can change your cabinets from plain to contemporary for just a few bucks and a couple hours.
- Tile: Consider updating the flooring in a small space. Your big box hardware stores often offer free classes on installing tile or other flooring. You can often get tile for less than a dollar a square foot and it’s a great update to a vinyl or linoleum floor that will add much more value to your home than you spend on it.
Ok, so those were just a few ideas. If you have questions about updates you’re considering, or want more ideas, feel free to comment! Also, if you are planning to sell your home in the Colorado Springs area, call Seth! He’s happy to help with any questions or needs you have regarding selling, purchasing, or building your home. His info can be found at http://www.sethcoloradosprings.com . Thanks for reading!