Downsizing? Improve Your Home’s Value First

Cost-effective ways to increase your home’s value before putting it on the market.

By Rachael Seeley Flores

 

If you own a home, you might someday consider downsizing to a smaller place that requires less maintenance in your retirement. But before putting your home on the market, consider making a few low-cost improvements to help your home stand out and increase its value.

On the outside

Michelle Kopp, a Broker Associate with Realty Austin, recommends boosting your curb appeal by watering and fertilizing your lawn, and keeping trees and shrubs neatly trimmed. She also recommends power washing the sidewalks, porches, driveway and exterior of your home, as well as refinishing your front door or buying a new one, if needed.

“It is helpful to make the front door as clean and appealing as possible,” Kopp told TCDRS. You might even plant colorful flowers near the front entrance and get a new doormat, she added.

On the inside

To boost the appeal inside your home, Kopp says it’s a good idea to update your kitchen and bathrooms with new fixtures and countertops. If you resurface your countertops, a popular material like quartz with a honed matte finish will help you attract modern buyers, Kopp adds.

You can also easily spruce up interiors with fresh paint. “Consider painting over dark or bright colors,” Kopp says. “Dark colors make rooms seem smaller and non-neutral colors can turn off some buyers.”

And remember to give your floors some attention, too. Most modern buyers prefer hard flooring like luxury vinyl plank, engineered hardwood or ceramic tile. “If replacing carpet isn't in the budget, have the carpet professionally steam cleaned,” Kopp says.

You can get the biggest bang for your buck by hiring professionals to get your carpet, tile, grout and windows looking their best. “The cleaner can also take care of the details that buyers notice … such as dusty baseboards, blinds and ceiling fan blades,” Kopp says.

Of course, there’s no reason why you can’t tackle these deep-cleaning tasks or other little updates on your own. Try a few to transform your living space!

Personal Finance