Homeownership doesn’t end when you pay off the mortgage, claiming full ownership of your home. It continues for as long as you reside within the property, working on adding value to its market valuation and structural integrity. It’s a continual process of property preservation and value-added renovations based on market research.

Like a business, a residential property also has a market reputation and profile, with several factors determining its value. Major defects, structural damages, an unkempt lawn, roof destruction, and even chipped exterior paint can undermine your property’s value. In contrast, minor upgrades like planting flowerbeds, pruning the trees, and repainting the walls can boost market value.

Keep reading to explore inexpensive ways to boost the market value of your home.

Renovation Planning & Market Research

It’s wise to map out your strategy and assess your renovation needs by scrutinizing the underlying purpose.

Why are you renovating your home? Do you want to sell your house and make a substantial profit with value-enhancing renovations? Do you want to enhance your comfort and appease the homeowner’s association with budget-friendly yet quality enhancements? Or perhaps, you want to rent out some rooms or the attic to create a passive income from your residential property?

Suppose the goal is renting or selling after making some inexpensive value-enhancing renovations. In that case, we advise consulting a reputable realty firm specializing in your residential market. For instance, Orlando-based homeowners should consult The Realty Medics, as they specialize in central Florida and Orlando neighborhoods.

We stress the need to consult experienced and skilled experts and engage with a realty firm to benefit from their market insights. Realty firms maintain extensive market data around property valuations and ROIs of specific upgrades and renovations. They can offer valuable insight into the best upgrades that will guarantee increments in your home’s market value. Most importantly, experts will suggest upgrades based on your underlying goal, for instance, attracting potential buyers or tenants.

Once you’ve decided to undertake the effort of property enhancements, it’s wise to prioritize upgrades that guarantee high ROIs. There’s no point in spending money on upgrades that don’t serve your purpose, no matter how less the amount.

Throw a House Painting Party

Painting the walls from the interior to exterior spaces is the most cost-effective trick to breathe new life into your property. A fresh coat of paint will eliminate all signs of glaring and minor defects, creating a powerful energy burst. This DIY trick doesn’t require much, and all you need is several gallons of paint, rollers, tapes, brushes, and a few helping hands. We suggest throwing a house painting party to rope in your family members and friends into a fun evening.

It’s time to get rid of the crusty old, debris-ridden wallpaper and experiment with trendy new colors.

Painting the interior walls in shades you’ve never explored before can set the stage for a bold aesthetic transformation. Most homeowners prefer neutral tones, while others adore dark and rich colors. We advise allowing everyone to personalize the color palettes of their room and vote on the color schemes for shared spaces.

Homeowners should also consider painting built-in fixtures and cabinets to spruce them with a splendid color transformation.

Fixing Repairs around the House

Many homeowners make the awful mistake of prioritizing cosmetic beauty over structural integrity. If the floors are creaking and the roof is leaking, painting the walls isn’t going to help much. How can you spend money on cosmetic enhancements with structural and functional defects reducing property value drastically?

It’s time to make a checklist of all the leaking faucets, plumbing issues, garbage disposal defects, roof leaks, and electric hazards. You don’t need to fix them at all once, but you need to tackle them systematically, based on the urgency. For instance, electric repairs and switchboard issues are triggers for fire hazards. These repairs demand urgent handling to prevent damages from escalating, so avoid delaying them. Plumbing issues can also set the stage for water damage and fire hazards.

You can explore other inexpensive strategies once you’ve replaced all the faulty doorknobs, fixed the loose wires, and upgraded the faulty outlets. Remember, aesthetic charm cannot cover up the glaring discomfort of unfunctional bathrooms and leaking faucets.

Revitalize your Curb Appeal

The curb appeal sets the first impression of your home, and if the first impression is unpleasant, who would want to explore further? An unkempt and cluttered lawn gives the image of a poorly maintained property, resulting in low market value. In contrast, neatly potted plants, beautiful flower beds, nicely pruned trees, a wooden garden arbor, and elaborate outdoor settings boost property value.

Suppose you’re a passionate gardener or an aspiring enthusiast. In that case, you can channel your creative energies and gardening skills into revitalizing your garden. Potential homebuyers and tenants love homes with outdoor spaces, seating areas, decks, and patios. If that’s too much, essential pruning and lawn maintenance will also do the trick!

Final Thoughts

Increasing the value of your home isn’t as challenging as most homeowners believe. It’s not about how much you spend but where you spend and how you plan the upgrades. We strongly advise consulting realtors and benefitting from their insight into property valuations and renovation ROIs.