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4 Budget-Friendly Tips to Increase the Value of Your Home

Posted by on November 13, 2019 in Economy, Loans and Frugal Living with 0 Comments

It’s not uncommon for the vast majority of people to commit a considerable amount of time, effort and money to their homes. After all, homeownership usually comes at a high price. And you’ll want to get the most out of your property if and when the time comes to sell. However, if you’re working on a tight budget, it can be more than just a little challenging to make changes and upgrades to raise the value of your home.

But the good news is that you don’t necessarily need to spend a small fortune to achieve the desired results. And with some careful preparation and research, you’ll be surprised at what you can accomplish. To this end, here are some tips that should help increase your home’s value on a budget.

1. Tackle repairs first

Before you begin tackling home improvement projects, it’s a general rule of thumb to start with the repairs before anything else. After all, there’s a good chance that you’ll cause more problems if you make any additions and modifications while issues with the home exist. More importantly, you’re far more likely to turn off many prospective buyers too. So even if it may not be the most exciting aspect of enhancing the property, making sure that all issues are fixed beforehand can make all the difference in raising the value of your home. For example, a siding remodel job can increase your home's value by up to 80% of the project's cost. While you may spend $6,000 on a siding job, you can get up to $8,000 in resale value from it. Of course your builder will need special tools to do this, such as siding nailers. Learn more about this tool here:

2. Research the project before committing

Contrary to what some might think, not all home improvement projects will improve the value of the house. In actuality, some may even have the opposite effect and devalue the property even more. So before you choose the colour for a new fresh coat of paint or increase the square footage of your home, make sure you research first. In this way, you’re much more likely to choose projects that will yield the intended results rather than spend on those that won’t.

3. Take the time to explore all options

One of the reasons why home improvements can be an expensive proposition is because many homeowners tend to buy on impulse. So whether it’s the equipment or tools that you need for a renovation or the whirlpool baths that you want for your bathrooms, it is good standard practice to check all of your options first. While it may sound like a tedious task that we would all rather be without, a small investment of time in exploring all avenues now can pay dividends in the amount of money that you’ll save later on.

4. Hire professional services when needed

A lot of homeowners take the do-it-yourself approach because it can minimise their expenditure considerably. However, there are specific jobs that we cannot do on our own. So, when needed, it’s better to hire professional services instead of shouldering the task yourself. After all, you’re far less likely to make any costly mistakes if you leave the job in the capable hands of a professional.

While it may be true that increasing the worth of a home can be an expensive endeavour, it doesn’t always have to be the case. And by keeping these tips in mind, not only will you be able to boost the value of your property but do so without breaking the budget in the process.


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