Yahoo Finance I’m a Real Estate Agent: These 7 Interior Design Choices Could Add $10,000 To Your Home’s Value
Home prices in the U.S. have been rapidly on the rise. This past July, home prices rose 0.6% from the month prior, according to seasonally adjusted data from the S&P CoreLogic Case-Shiller US National Home Price Index. Prices could get even steeper in 2024, largely due to a persistent and pervasive lack of inventory. This is bad news for those in the market for a new home, but pretty great news for sellers.
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Though your home is likely ticking up in value based solely on the current climate of the housing market, that doesn’t mean there aren’t relatively small and affordable interior design renovations that can boost its value even more. Let’s discuss, with real estate experts, which simple interior design renovations you can make to add an extra $10,000 or so to the value of your home.
Installing Pale Hardwood Floors
There’s nothing quite like hardwood floors. They’re sleek, chic and both timely and timeless. Adding a wide and light plank hardwood floor to your home will enhance its value — especially if you’re replacing shoddy and/or ill-colored carpet.
“Installing a wide plank hardwood floor is a great way to enhance the value of your home,” said Jared Barnett, a licensed real estate salesperson at Compass Real Estate: The Barnett-Bittencourt Team. “Wide planks are modern and attractive and help create an illusion of a larger, more open space. I recommend using a light color such as white oak which will also keep the space bright and airy.”
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Converting a Room Into an Office
In an age where working from home has become the norm for many, converting an extra room into a home office is a smart move that easily adds value to your property.
“With increasing trends of people working remotely, a home office has become a desirable feature for homebuyers,” Barnett said. “Many buyers today are looking for a comfortable work-from-home lifestyle so this bonus room will certainly appreciate your home.”
Upgrading Toilets
Though not the funnest or most pleasant renovation to talk about, it’s necessary to touch on: upgrading toilets can really up the value of your home.
“Old toilets can really put someone off,” said Anna Karp, CEO of Bolster. “Be sure you invest in some low-cost toilets from a high-end brand like toto and have them installed; it’s the easiest hack to name drop a brand and do a swift update.”
The best part of this renovation is that it can be surprisingly affordable. “New toilets can be as low as $300,” Karp said.
Painting Kitchen Cabinets White
Sprucing up your kitchen cabinets with a fresh shade of white paint can transform an old kitchen into a welcoming new space while simultaneously increasing your home’s value.
“White cabinets have a timeless appeal that creates a bright and open feel in the kitchen,” Barnett said. “As a cost-effective and relatively simple renovation, it can yield a substantial return on investment.”
Applying a Fresh Coat of Paint on Interior Walls
Yes, painting the exterior of your home can really boost its value, but that tends to be a really pricey renovation. For example, in California, it costs approximately $2 to $4 per square foot to paint a house, according to Diamond Star Painting. That can send you into spending some $10,000, depending on the size of your home, which sorta defeats the purpose of the upgrade.
Fortunately, sprucing up the interiors of your home with new paint is generally more affordable, and can still do the trick of adding value to your property. “If you are wondering which paint colors to use, look at current trends in IG, you may want to opt for white and then do an accent wall to make the property look more high end,” Karp said.
Invest in Energy Saving Gear and Tactics
With climate change intensifying, an increasing amount of prospective homebuyers are seeking a dwelling that is energy-efficient. It’s not just the eco-friendly aspect to keep in mind, either. It’s also critical for cost-efficiency, particularly if you live in a state such as California where energy prices are skyrocketing.
“More and more homeowners are either aware of environmental issues or want to know the true cost of their energy bills,” Karp said. “Be sure you are informed about this and that all the bulbs in the house are energy saving.”
Clean, Clean, Clean
How simple and cheap this one is: clean your place. No, really, make it sparkle — and also make it smell like it sparkles!
“Fresh and clean does the trick: if you want a property to show its true value, clean it, paint it and add plans,” Karp said. “Likewise, invest in carpet cleaners and cleaners in general. The smell of a home can really give a positive (or negative) subconscious message to prospective buyers.”
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This article originally appeared on GOBankingRates.com: I’m a Real Estate Agent: These 7 Interior Design Choices Could Add $10,000 To Your Home’s Value
