Even if you don’t have current plans to sell your house, you may decide to sell it later. Improving your home’s appearance can increase its value. Before taking on any home improvement projects, consider what kinds of upgrades might add to your home's future resale value. By making some modest improvements for under $5,000, you can enhance how your home looks on the outside or add basic updates inside and not break your remodeling budget.
Paint the Exterior
Painting the outside of your house is one way to improve its appearance and add to its value. A traditional, classic color like white looks good on almost any style of home, points out Better Homes and Gardens. But before selecting paint, go outside and compare paint samples to see how a particular color looks on your house at different times of the day. A color can even look different on sunny and cloudy days. In 2013, the Homewyse website estimates the average cost to paint the exterior of a home at $1.00 to $1.79 per square foot, including the cost for materials and hourly labor wages. The cost doesn't include sales tax or a general contractor’s fee to supervise the project.
Landscape the Lot
Landscaping not only adds curb appeal, but can increase a home’s value by as much as 20 percent, reports the Herald-Tribune. First impressions really do count, so if you’re working with a limited budget, start in the front. A good bet when landscaping is to select plants native to the area where you live. Choose plants that are green and need less water and care. Although landscaping can be expensive, you can cut the cost in half by doing the work yourself. One cost you should include in your landscaping budget is to replace your existing grass with fresh sod. For less than $1,000 you can have a healthy looking lawn and increase your home's value, according to HGTV.
Install Laminate Flooring
If you’re looking to give the floors in your home new life, laminate flooring costs about half the price it would cost to install hardwood floors. Laminate flooring looks much the same as wood floors but involves less maintenance. It's durable, easy to install and works well in any room, including the kitchen and bathroom. Based on 2013 prices, laminate flooring products generally cost between $1 and $5 per square foot for materials and an additional $1.50 to $3 a square foot for labor if you have it installed, according to the HomeAdvisor website. Additional costs may apply if the job involves removing old flooring and leveling subfloors.
Upgrade the Kitchen
Upgrading the kitchen is another way to boost your home’s resale value. For $4,000 to $5,000 you can install a new kitchen sink, faucet and countertops or buy new appliances, reports the Clay Sells Homes website. New appliances give your kitchen an updated look and save on energy. You can buy stylish, quality Energy Star appliances in white, black or stainless steel without exceeding your budget. Economical choices for countertops include wood or laminate materials. Laminate also offers the look of granite or marble for countertops yet costs a lot less.
- Better Homes and Gardens: Best Exterior Color Schemes
- Housewyse: Cost to Paint a House Exterior
- Herald-Tribune: Boost Value to Your Home with Landscaping
- HGTV: 30 Tips for Increasing Your Home’s Value
- HomeAdvisor: Pros, Cons and Costs -- Laminate Flooring
- Clay Sells Homes: 8 Handy House Upgrades That Boost Resale Value
- Photo Credit Stockbyte/Stockbyte/Getty Images