If you intend to sell your Princeton home, you’re likely considering some upgrades to increase the value. After all, everyone wants to sell at the best price possible in order to make a profit. Sure, you could do a major kitchen remodel to increase your home’s value by tens of thousands of dollars. But would that major remodel yield a good return on money invested? You’re probably better off instead to perform inexpensive upgrades that will both increase value and yield a good ROI. Here, then, are 5 inexpensive upgrades you can do to increase the value of your Princeton home.
1. Paint Interior Walls
Painting just may be the least expensive, most effective, and quickest way to increase the value of your Princeton home. It really doesn’t cost much and just takes some time and a little elbow grease.
You do, however, have to make make sure you choose the right colors. Your best bet is to avoid bright, wild colors and stick instead to neutral shades “because they will appeal to a greater number of potential buyers. However, not just any neutral shade will do. A Zillow study found that it’s best to steer away from colors such as dark brown and terracotta when it comes to interior paint colors. If you do choose to use these colors for the interior, your home might sell for . . . less . . . Homebuyers generally don’t care for these colors.”
2. Clean and Declutter
Cleaning and decluttering would almost seem a no-brainer, but you’d be surprised how many sellers neglect these basic things – to their detriment and loss. Besides, cleaning and decluttering has no cost other than your time and effort.
In fact, one study found that “deep cleaning and decluttering can add more than $4,000 to a home’s resale value, on average.” Just make sure not only to clean and declutter the larger more visible areas, but also to go through all the drawers, closets, and other storage areas, including the garage. And then keep your home clean until it sells.
3. Replace Exterior Doors
First impressions are critical, and one of the first things potential buyers see is your front entry door. So replacing exterior doors, particularly the front door, is a great way to increase the value of your Princeton home.
Don’t forget the garage door, though. “The front of the home is the first thing you, your neighbors and prospective buyers will see . . . Garage doors often take up the most amount of space on the front of your home, so installing a modern glass panel door or a rustic wood door will dramatically improve your home’s appearance. According to Remodeling magazine’s 2019 Cost vs. Value Study, replacing a garage door recoups 97.5 percent of the cost of the project.”
4. Improve Curb Appeal
Maybe the best way to make a great first impression is to improve curb appeal. In addition, it can significantly increase the value of your Princeton home. And, again, this doesn’t have to be expensive. If you have the time, inclination, and a little skill, you can do it yourself.
One 2019 survey of real estate agents “found that the exterior of your home may play a bigger role in your home’s value than you think. The survey showed that 76 percent of top real estate agents nationwide agreed that improving curb appeal is the No.1 step a homeowner can take to boost their home’s marketability. According to their figures, basic lawn care like cutting the grass, fertilization treatments and weed control can add $1,000 on its own.”
5. Improve Energy Efficiency
Since so many buyers are environmentally conscious today, improving energy efficiency can go a long way toward increasing the value of your market_city] home. And it doesn’t have to be a major and expensive upgrade like installing a new HVAC system. There are, instead, many smaller, inexpensive things you can do to increase the value.
You might consider, for example, installing a smart thermostat. “The right smart thermostat will allow a homeowner to control their home’s climate from anywhere, giving them the power to manage energy costs regardless of whether they are sitting on the couch or away on vacation . . . Such investments in home tech – particularly when connected to the HVAC, which is the largest mechanical system in the home – provide a strong selling point and highlight the home’s overall comfort, functionality, energy efficiency, and convenience.”
You could also install new energy-efficient windows, which has a greater cost yet still yields a good ROI. Or improving the energy efficiency of windows could be as simple as caulking around them.
Talk to Your Local Agent
If you really want to do all the inexpensive things you can to increase the value of your Princeton home, talk to your local real estate agent to get even more ideas. What works well in one local market may not work so well in another. That’s why you need to lean on the expertise of your Princeton agent. Find out today how our agents can help you make your home worth more.