Are you looking to buy a fixer-upper? Buying a fixer-upper is currently a popular investment in the housing market, especially since lower-priced houses increase housing confidence in home buyers. Do you know how much you can afford? Redfin’s mortgage estimator will calculate your home affordability based on your annual income, down payment, monthly spending, loan type, and current average APR.
Home renovations can be costly, time-consuming and messy. Yet, many people choose to renovate their homes for a number of reasons, ie., safety reasons, comfort, update function or improve the home value for resale.
There are plenty of ways to start fresh. We all want a cozy, welcoming home, but we also want to be able to do these updates on our own or without breaking the bank. Renovation projects update your home, increase its value and make it appealing for potential buyers. Here are 7 ways to immediately update an old home:
1. Paint Kitchen Cabinets
Instead of ripping out the old cabinets and buying new ones, why not update the ones you have? By painting your cabinets, you can get a great look without spending a lot of money. As long as the frames and doors are structurally sound, you can clean them up and brush on a fresh coat of paint, you will go from dreary to sunny in a few days.
2. Add Molding
Crown molding is an easy, affordable way to update your home and add value for prospective buyers. Crown molding can do so much to any room. It will not make the room feel shorter, actually, it will bring your eye up and help create the illusion of height.
3. Add/Update Curb Appeal
Curb appeal is the first impression of your home. Is your front door dull and boring? Paint your door to coordinate it with your home’s color. Add house numbers to your entrance, hanging a pretty wreath on the door and place a potted plant or two by the front entrance. Be sure your lawn is well kept. Update your outside light fixtures. Trim your trees, bushes and tend to flower beds.
4. Upgrade Your Fixtures
If your light fixtures are outdated, bringing them into this decade should make the top of your remodeling to-do list. This project is cheap and relatively easy. Another big benefit: You’ll generally see a full return on your investment when you sell your house.
We aren’t just talking about painting the walls. Paint your brick fireplace – paint the brick to match your palette and let the texture makes the statement. Paint old furniture – don’t be afraid to go with a potent color, especially if the walls and the trim are neutral. Paint interior doors – changing the color of an interior door can take a room from dull to eye-opening. Paint interior window frames – a painted window frame can enhance a view and add character to a room.
6. If You Want to Invest, Update Your Kitchen
Out of all the rooms in a home, the kitchen is the one homeowners invest the most in. Kitchen remodels recover nearly 70% of their value in resale, making it one of the best home improvement investments.
7. Talk To A Realtor
Before you make any major changes, ask your own realtor what people ask for the most in your area, and then make those updates yourself.