Recession Proof Your Home
Home Improvements to Increase Home Value
With home prices falling and recession digging in, many homeowners are putting off home improvement projects. But you might want to reconsider. A home with curb appeal that feels updated inside will sell long before the one next door that looks old and neglected!
Also, it’s important to remember that real estate prices will come back eventually, so by doing a few affordable improvements now you’ll be able to enjoy your house while you wait for the market to rebound. And if you decide to sell later when things improve you’ll have the advantage.
Here are a few tips to help you “recession-proof” your home:
- Update Your Home’s Interior
The first things a potential buyer sees when entering your home will be the flooring, wall paint and trim work, so these are the best place to start. These are also great projects to do on a budget compared to making major home improvements.
If your home has standard baseboards and window casings you might want to update your trim work; crown molding, baseboards and window casings to give your home’s interior a much more appealing look that you’ll enjoy while you live in it and can really increase salability.
- Enhance Your Home’s Curb Appeal
Landscaping is something most people can do themselves, but you may want a professional to help with other tasks like irrigation, sprinkler systems, decks, patios or other tasks you don’t have the skills and experience to so yourself.
- Preventive Maintenance
In tough economic times we tend to put off general repairs and maintenance. This is absolutely the worst path to take. At least be sure you take care of preventative and normal maintenance tasks as they simply should not be ignored.
- Do One or Two Major Upgrades
Now, you might want to consider going ahead with the renovations you had planned when you originally bought your home. Investing in updating your home is still a good long term investment and could pay a higher return than some other investments you could make.
Here are some ideas on what projects you might consider.
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Exterior Paint your home’s exterior Outdoor upgrades & landscaping Install an awning Front step revamp Deck and patio restoration or installation Screen in a porch |
Bathroom Bathroom fixtures Small bathroom renovation Style update Glass block window installation Replacing grout Accent tile |
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Kitchen Replace appliances Cabinet door re-facing Replace cabinets Kitchen facelift Vinyl tile or laminate flooring Backsplash installation |
Living & Family Areas Wainscoting, crown molding and trim Hardwood flooring installation Stone fireplace Family room upgrade |