Inexpensive Upgrades to Boost Home Value

1. Break Out the Paint

A quick, inexpensive way to increase the value of your house is to paint. A fresh coat of paint can make rooms look like new. But don’t get too wild when choosing paint colors. Your best bet is to stick to neutral shades because they will appeal to a greater number of potential buyers. However, not just any neutral shade will do. A Zillow study found that it’s best to steer away from colors such as dark brown and terra cotta when it comes to interior paint colors. If you do choose to use these colors for the interior, your home’s price might sell for $469 (when using dark brown) or $793 less (when using terra cotta) than Zillow’s price estimate. Homebuyers generally don’t care for these colors.

2. Upgrade Appliances

Know that you don’t have to go out and buy all new appliances that match exactly (and if you’re working with a tight budget, this isn’t a great idea, anyway). The experts at Kitchen.com say it’s OK if your appliances don’t perfectly match, as long as they don’t compete.

If you’re up for bucking the norm, white and stainless steel are both neutral colors, so you don’t have to worry about them clashing. What you should keep in mind is that when one appliance doesn’t match the others, it stands out. You can use this to your advantage and create a strong focal point: Designers often do this with the cooking area by choosing a gourmet range or artistic hood with a different style, color or finish.

3. Change Door Knobs

When it’s time to put your home on the market, details matter. One detail that often goes unnoticed is door knobs. You can add a bit of flair by replacing old doorknobs around your home and on kitchen cabinets. The best part is, a simple door knob upgrade doesn’t have to cost a fortune. Home renovation expert Brittany Cramer said one thing you should keep in mind when updating door knobs is the home’s era. “One of my favorite pieces of advice to give folks is to consider the era of the home before purchasing and installing accessories. You might be a lover of that wrought iron, Tuscan look, but will that style suit your home?” said Cramer.

4. Replace Light Fixtures

Another inexpensive DIY project is to replace home lighting. Updated light fixtures can give any home a lift. The right light fixture can make your home look not only brighter but also modern. In addition, consider replacing outlet switch plates.

Maintenance Tips to Save Big Bucks

1. Inspect your roof every six months

A few things to look for:

• Loose or missing shingles and tears in the shingles
• Cracks in flashing (the metal or plastic seal around your chimney and roof)
• Moisture, mold, or leaks in your attic’s wood panels.
• Bubbled paint on the walls or ceiling stains (which can be signs of water damage)

2. Inspect your HVAC system every six months

• Start with the thermostat and check all functions for correct operation. Make sure that both the heating and cooling systems turn off at the preset temperatures.
• Turn off the circuit breakers that power both the furnace and air conditioner. The circuit breakers are in the electrical service panel. Leave both units off until after the HVAC inspection.
• Check for loose electrical connections.
• Listen for any squeaks or noises when manually inspecting moving parts.
• Find the condensate drain and check for clogs. Condensation that builds up during HVAC use must drain properly to prevent rust from forming on internal parts. Clogged condensate drains also contribute to bacteria and mold growth in the home.
• Smell for gas leaks near all gas fittings, if your home uses gas. Inspect heat exchangers or burners for cracks, abnormal discoloration or deterioration.
• Review the system for dirt and debris. A buildup of debris and dirt affects the system’s efficiency. Use a small portable vacuum to remove any dust buildup.
• Look at the air-conditioning coils for an accumulation of dirt or dust. Vacuum the coils to improve cooling efficiency.

3. Inspect your pipes every year

Especially if you have an older home, it may be worth inspecting your sewer lines every year. Find a plumber in your area that will inspect your lines. They’llrun a camera down the pipes and tell you if there are any clogs or obstructions. This typically costs about $150.

4. Check for termites to avoid structural damage

Some common signs of termite damage include:

• Buckling wood
• Swollen floors and ceilings
• Termite poop, which looks like coffee grounds
• Visible mazes within walls 
• A scent similar to mildew or mold

5. Inspect your water heater annually 

Water heaters are easy to forget about, but when they fail, they can cause a lot of damage. If pipes burst or start to leak, they can cause mold growth, or worse, flood your floors or ceilings. If the leak has caused enough damage to walls, floors, and ceilings, they may need to be replaced. According to the Insurance Institute for Business and Home Safety, water heater failures cost an average of $4,444 after the deductible.

It’s useful to know the signs of a problematic water heater:

• Water doesn’t get as hot anymore
• There’s rust in the water from your faucets
• Your water heater makes popping sounds when it’s heating
• Puddles and rust are forming near your water heater.