Planning to Sell or Refinance? Improve Your Home First!
Some people will do home improvements because they want to live in a nicer home. Others will complete them so that they can sell their home for a more. Still others want to refinance, and need to increase the value to get rid of that pesky PMI. And there are even those that are seeking a reverse mortgage soon, and they want to make sure their monthly checks are large enough.
No matter your reason, you don’t want to dump a bunch of time and money into little improvements that won’t affect the value of your house very much. You want to focus on the top improvements to increase your home’s value. Here are a few things that you can do.
1. Paint the Walls
Paint is still the easiest, and cheapest, way to take your home from drab to wow. Getting rid of the boring “off-white” is a sure way to make things look fresh. Touching up that paint that has been marred, chipped, scraped, and scuffed over the years makes the home feel new. Just don’t get too crazy, an orange, yellow, and green living room is probably too much for potential buyers. 😉
Cost: $3.00 to $6.00 per sq. ft. on average, depending on the paint quality, amount of prep work required, and overall size of the project. A typical interior remodeling painting project for the whole house may cost between $3,000 and $6,000 on average.