By Emmet Pierce,
Money Talks News
There are many ways to increase your home’s value without taking on
expensive remodeling projects. So, instead of hiring a contractor, focus on
the things you can do yourself — and appreciate the things that might boost
your home’s value without you having to do anything.
The following are several surprising things that can increase the value of
your home.
1. A nearby Starbucks
You can’t control when a new Starbucks coffee shop will open within your ZIP
code. But each time one does, it stands to boost your home value, according
to a 2018 study from Harvard Business School.
The addition of one Starbucks in a neighborhood within a given year is
associated with a 0.5% increase in neighborhood home prices, researchers
found.
Home values increase by the same percentage each time a new Starbucks opens,
researchers found. So, if you own a home worth $300,000 and two Starbucks
opened nearby, your home value should increase by 1%, or $3,000.
2. A black front door
Painting your front door a shade of black can boost your home’s sale price
by $6,271, on average, according to a 2018 analysis by real estate website
Zillow.
No other combination of color and surface boosted sale prices by anywhere
near as much as shades of black on a front door. The second-most impactful
combination — light taupe and similar shades of paint in living rooms —
boosted sale prices by an average of $2,793, according to the analysis.
3. Your neighbor’s lawn
Sometimes it’s not enough to take care of your own property. A poorly
maintained lawn next door or across the street from your home can make your
property less desirable. This is especially bad news if your home is for
sale.
If you have a neighbor whose lawn is a mess, offer to mow the neighbor’s
lawn!
4. New ceiling light fixtures
When people spruce up their homes, they often overlook the ceiling light
fixtures in bedrooms and hallways. It’s not enough for the light covers to
be functional. If they’re cracked or discolored, they’ll make your home seem
worn out and outdated.
Jacksonville, Florida, real estate agent Bryne Duren tells Money Talks News
that anything that makes your home look lighter, brighter and cleaner can
increase its value.
Lighting covers typically are inexpensive to replace. Don’t forget to make
sure that your hallway light covers match.
5. New light switch and outlet covers
Sometimes it’s the small details that add value to a home.
Discolored or cracked light switch and outlet covers can make your home seem
neglected. Real estate agent Jeremy Browne of Arlington, Virginia, tells
Money Talks News that replacing these covers is an easy way to make your
rooms look better.
They typically are inexpensive to replace.
6. New bathroom caulk
An unattractive bathroom will reduce your home’s value. The caulk around
your shower and bathtub protects your bathroom walls from leaks. When caulk
becomes moldy and cracked, it’s a turnoff for guests and potential
homebuyers. Replacing it will create a noticeable improvement in your
bathroom’s appearance.
“Given that the cost is minimal, it makes sense to do this,” San Diego real
estate agent Gary Kent tells Money Talks News.
Caulk is relatively easy to replace. It takes patience, but no special
skills. You can use a caulking gun for larger jobs, but caulk is available
in squeezable plastic tubes for smaller projects. Just note that before you
can apply new caulk, you’ll need to remove the old material.
7. Tightened door knobs and hinges
Nothing says neglect louder than a door that’s loose or rattles when you
open it. If prospective buyers think your front door is ready to fall out of
its frame, don’t expect them to make offers on your home.
A cheap and easy way to add value is to make sure that all door handles,
locks and hinges are in good working order, Forbes reports. This doesn’t
require any special expertise, and a screwdriver may be the only tool you’ll
need.
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