Whether you're considering listing your home for sale or plan to hold on to it through your retirement years; keeping your home maintained and updated will increase its value. The best plan of action is to focus your time and resources on one room at a time. Begin by making a list of all the things in each room you want to fix or upgrade and calculate the hard costs plus your time for each project. Knowing these two things will help you plan which room to begin with. In addition to having a plan for each room, you should equally put together a plan for the exterior of your home.
The two rooms that will give you the most bang for your buck are the kitchen and bathroom. Often referred to as the heart of a home, the kitchen is where people ultimately spend most of their time and the room that will have the greatest impact on a home's value. A full kitchen upgrade can run upwards of $50,000 and if you don't have the financial resources to go all out, consider some of these options:
- Inventory your appliances, make sure they match and are all in good working condition.
- Stick to countertops that are durable and eye pleasing such as marble, granite or butcherblock.
- Upgrade cheap linoleum or laminate flooring to hardwood.
- Refurbish or paint cabinets to give them new life.
- Add a new backsplash for a touch of color.
An essential room in the home but one that is widely overlooked is the bathroom. A new upgraded bathroom should enhance your life and help you sell your home when it's time to move on. A complete bathroom remodel can run as much as $20,000 but there are still small things you can do that will increase your home's value.
- Concentrate on necessary repairs before doing anything cosmetic.
- Choose wall mount lighting to add warmth and value to the room.
- Painting walls, shelves and a vanity are an easy and inexpensive way to update any look.
- Add a few mirrors or bright, large pictures to reflect existing light around the room.
- If you have obvious moisture problems, bring in an expert in home remodeling.
Thinking of your home as a whole, consider other upgrades such as new, energy efficient windows, a new, up to date and inviting front door and replace carpeting in any room where it's become worn.
Choose your projects wisely and consider hiring a professional home inspector, they will likely find issues that you've never considered and even suggest ways to fix them.