What is the best way to increase the value of your house?

Question

I just bought my first house and I only plan on living here through college - I will sell or rent it after that but I would rather sell. I dont have an unlimited amount of money but I am very good at saving. Whats the best way to increase the value of my house for my buck. Its in central Illinois I am in progress of purchasing new windows as they are all painted shut. The carpet could use some replacing, the kitchen could use a complete makeover (floor, cabinets, plumbing) The basement is full and unfinished however its leaky all around the walls. The roof is new - the garage is about to fall over, and the land scaping is in between good and bad im working on that soon. HELP!

Answer 1

In general, this is what you should do anytime you want to increase the value of the home:

Spruce up the yard. Get rid of trash and yard waste. Keep your lawn in good condition and mow it. This includes using a weed whacker to get in the tight corners and along the edges of sidewalks and the house. Trim the hedges, get rid of weeds, and mulch the flower beds. If you don’t have much to work with, plant some flowers or install some landscaping appropriate for your home and climate.

Eliminate clutter inside the home. If you’re going to be showing the house to potential buyers, get the house organized and get rid of clutter or put it in storage. A nice, tidy house will seem larger and more elegant.

Wash walls and windows. It’s a lot cheaper to wash walls or siding than to repaint or replace siding, and many times a good cleaning will make your home’s finishes look good as new. Pressure-wash your home’s exterior, and wash interior walls. Clean your windows so that you can’t tell they’re there.

Add a fresh coat of interior paint. Sometimes you just really need to repaint, but you can do it yourself relatively cheaply on interior walls. First, patch up any holes, no matter how small. To get a silky smooth finish, apply a coat of primer. After the primer dries, lightly sand it with a fine grit sandpaper (220 grit). Apply the first coat of latex paint, and then lightly sand that layer also. Wipe the walls down with a damp cloth after each sanding session. Then apply the final coat of latex paint.

Put up new curtains and blinds. Blinds don't cost much, and curtains can be cheap also. Over time, the sun fades the colors from your blinds and curtains, so new ones will make a better impression than old ones.

Clean your carpet. You can shampoo or steam clean your carpets, or you can use a dry cleaning system (available from various sources, such as Oreck), which requires no water or steamer rentals, and which dries instantly and kills virtually all mold and bacteria. Apply according to the manufacturer’s instructions, and then vacuum. If all else fails, get a professional to do the carpets for you. You'd be surprised how much better your carpet will look after a good cleaning.

Consider flooring options. If your carpet is in really bad condition, you can replace it, or you can restore the original hardwood floor. Hardwood floors are very popular right now, and in a lot of cases old houses have nice hardwood flooring underneath the carpet. Rip up a bit of carpet in a closet or other inconspicuous area to check the floor’s condition, and compare the price of restoring the hardwood to that of installing new carpet.

Install modern light switches and outlets. Some of the new style switches can be easily installed using the wires already running to the old switches. Just be sure to turn off the power to the room or entire house before doing any work. The new outlets look nice, and give the impression that the electrical wiring in the house is newer than it really is. Dimmer switches are especially desirable.
Install ceiling fans. If you live in an area where warm weather is common, replacing built in ceiling lights with ceiling fans will improve the form and function of your home. You can find ceiling fans at a "big box" retailer or at your local hardware store.
Refinish kitchen cabinets. Outdated or worn cabinets can bring the whole kitchen down, but refinishing them is relatively cheap and easy to do. If you have a dark or small kitchen, make it look larger and brighter by using a lighter finish on the cabinets.
Consider turning on all the lights when the real estate agent arrives with potential buyers. On the one hand, this will help to brighten up your house. On the other hand, lights on in the daytime is a huge "red flag" for some buyers. Either way, it will make a lasting first impression.

Up the wattage of your light bulbs to make things even brighter. (Just make sure you don't exceed the maximum specification for lamps and other lights.)

Remember the senses. Put out fresh flowers for your open house; they make even the most dungeon-like house look inviting. Bake some oatmeal or chocolate chip cookies--they invoke good thoughts for most people. Then leave them out for visitors. If you don't have time to bake, burn a candle or use potpourri. Use smell sparingly; some people are more sensitive than others. Consider playing some very soft classical music in the background.

Get a professional floor plan company to check on your home's square footage, which is sometimes higher what your county assessor has recorded. Because homes sell for hundreds of dollars per square foot, even a small increase will more than pay for the service (typically a few hundred dollars). You'll be able to list your home for more money, but at the same price per square foot.

Answer 2

The Basement should be your first concern, find out why the basement is leaking and take care of that first. This could be the demise of entire house, if not fixed correctly and first off.
Check the condition of floors and what is under your carpets, before deciding on replacing them. If you have hard wood floors under the existing carpet, it may be more asthetic and valuable for you to have the hardwood floors sanded and refinished (not a $ saver, unless you can do it yourself). Insulated windows and insulation are a good investment, but you probably won't get your money back on that investment when selling the house.
Kitchen makeovers, Master Bathrooms, and Master Bedrooms are the 3 pay backs when selling your home. What ever you do don't cut corners when remodeling though, this will be detrimental to your bottom line when selling. If you can only afford to do certain things, then do those well, don't scrimp.
If the garage is not fixable, then have it taken down. It may be a safetly hazzard, better take care of it sooner than later.
Landscaping is nice, but I would wait on any major $$ on the outside, until you fix the important things. Good luck.

Answer 3

I watch Home and Garden TV a lot and what they tell you about increasing the value of your home is that not all remodeling gives you 100% return on investment. So, you have to pick your battles, so to speak. If you don't have a lot of money, you can save a lot by learning some skills and doing the work yourself.

Kitchens sell houses. When renovating a kitchen to increase value, it is important not to go overboard. So, if the cabinets are not falling apart, you can make them look really good by either refacing the cabinets or simply painting the doors and getting nice pulls. You can install new laminate countertops for very little, and for even better look you can use marble tiles. The appliances have to be new and the same style/color, but they don't have to be expensive.

A bathroom must look spotlessly clean, practical and not too small. Depending on your space, you can achieve this by updating the cabinets or installing a new pedestal sink.

Both the kitchen and the bathroom MUST have new faucets.

Laminate floors are considered an investment with a high return. They are relatively cheap and you can install them yourself. If you go with a new carpet, by the time you decide to sell, you may need a new carpet yet again.

If you have anything that screams "falling apart" you need to fix it and make it look very well maintained.

I recommend that you get cable TV for a few months and watch Home and Garden TV. They have a lot of good advise and some of the programs are actually dedicated to answering your question - "Design to Sell", "Design on a Dime" and "Curb Appeal" to name a few. The website is also very good.

Good luck.

Answer 4

Windows are a good start.

Fix the leaks - seal the joints, beams, inside and out.

Carpeting is cheaper than tile, but tile gives a great return.

Maybe get a metal garage rather than build a new one, or fix that old one.

Ask your friends to come over and help, through them a party with food to help. Or ask a college if they have students who can help.

And you and your friends etc can paint the house, rooms, the basement for very little cost.

We're going to have either our kitchen cabinets re-faced, or paint them, or strip them and varnish them (depends upon the type of wood).

Do get plumbing fixed if not replaced.

DO the landscaping last if you can, for me that's the easiest 'cause I love to garden etc...

Answer 5

i would remove the garage and clean up the landscape,basically people like nice kitchens and bathrooms.try adding a little garden with a canopy for privacy.definitely clean up the basement,get rid of all signs of water leaks.if you are handy and the floors are good wood,you can rent equipment to refinish them ,might be cheaper then replacing carpet.also make sure your electrical is updated,very important.one thing i may suggest is that when you are ready to move out,try renting the house instead of selling it,it will be good equity for you as rental income for your future.

Answer 6

things to improve that would add thousands to your asking price

1. update your kitchen (new tiles/counter tops (try granite tile: same look as granite and less expensive), appliances, cabnetry (people like alot of storage space: see what you can do to increase that like adding shelves, etc.) this is a very big selling factor.

2. update your floors (get them cleaned/ self-install new floors)

3. good landscaping for at least front view

4. update your bathrooms (power washed, new tile/paint, etc.) this is a very big selling factor.

5. make the space look bigger (paint light colors in rooms to make them appear bigger, knock down unnecesary walls (like one btwn kitchen and living room; if you open this up it makes both rooms appear bigger, just be careful of any plumbing or electric wires that might be in the wall)

6. stage your house. when you are showing the house, put a few things to help people imagine what it would be like to live in the house.

7. pay the realtor. even if it is for sale by owner, most people offer profit for realtors who bring their clients to the house, that way realtors will have a bigger incentive to show your house.

8. repair the garage

9. spruce up the basement. even if you can't finish it, make it look acceptable to someone who would come look at it.

Answer 7

increase house