Why improve your home?
If you’re looking for ways to boost your home’s value. you’re probably considering some home renovations. Home remodeling projects are a great way of increasing your home’s value and improving its aesthetic appearance.Before you go jumping on any home improvement projects, think again. Not all upgrades are equal. Some projects have better returns over others. Some projects are way too expensive, which could be a problem if you’re working within a limited budget.
You don’t need to put too much money into fixing the home up for sale. There are plenty of ways you can improve your home’s value.
Take a look at these contents on how you can enhance your Frisco home’s worth without overspending.
1. Identify your wants and needs.
2. Establish your budget.
3. Consult with a real estate agent.
4. Know which projects have permits.
5. Set a timeline
6. Prioritize repairs.
7. Identify the cheap fixes
8. Start upgrading!
9. Budget friendly home improvements
Step 1. Identify your wants and needs.
A home remodeling project does not happen by chance. Your home is one of your biggest financial investments, so you need to carefully plan before doing any home upgrades, both minor and major.
Perhaps you want to have a large kitchen island with granite countertop, or a spacious bathroom with a separate shower and tub. Perhaps your partner is thinking of open shelvings.
Write it all down. Create a list of wants and needs. Knowing what should be done now and what can be put off helps in creating a solid plan.
Step 2. Establish your budget.
Once you’ve decided which projects to work on first, your next step is to know how much you can spend.
Setting a budget range is important because it will help you identify which of your priority projects can be put into action.
Home upgrades that are not property planned and budgeted often go two ways. One, they stay unfinished for months because there’s no more money left to finish it. Two, the homeowners are forced to take a loan to complete the project, an additional mortgage to pay off.
To be financially ready for your home upgrade, here are four things you should seriously consider.
Know how much you have saved up for the project. Look at your savings or any other sources of income and see how much you currently have which can be used for upgrading. Decide how much you want to spend. Are you going to use it all up? Are you going to spend only 50% and leave the rest in savings? Establish a budget range so you have some flexibility, but know exactly just how much you can afford.
Budget for the unexpected. When setting your budget, make sure that you plan for the unexpected. Let’s face it, all home improvement projects face snags and complications. All budgets need a buffer, so make sure to save some money for those little surprises.
Get a rough estimate. You won’t know exactly how much you’ll spend, but you can get a ballpark figure so you can allot a realistic budget for the project. Getting a rough estimate from contractors can help solidify your budget.
Don’t force the budget. You probably have a specific project in mind when you started looking at your finances. It can be disappointing to find out that you don’t have sufficient savings for the upgrade you want. If this is the case, don’t force it. It’s better to save up money for the endeavor you have in mind, than bury yourself in more debt.
Here’s a great video which can help you learn when to save and when to splurge.
Step 3. Consult with a real estate agent.
You’ve probably heard or seen about the best home improvements which can add value to you home.
Fixer Upper, Property Brothers, Extreme Makeover: The Home Edition and many other TV reality shows have made it so tempting to upgrade all your kitchen appliances, replace kitchen counters, and knock down walls to create more space. The Internet is not helping either! It is flooded with a lot of these home renovation tips and ideas, making it difficult to choose the right projects for your home.
But if you’re thinking of putting your Frisco home up for sale, it’s better to consult with a real estate agent like us, Loreena and Michael Yeo, before any home improvement.
Here are the advantages of consulting with a real estate agent before proceeding with your home renovation.
1. We know what buyers want in a home.
2. We know the right upgrades that will make your home more appealing.
3. We can provide referrals for the people you’ll need in renovation, be it painters, electricians, carpenters, landscape architects and more. We have a network of trusted professionals who we know will deliver the service and quality you are looking for.
Step 4. Know which projects have permits.
One important step many homeowners don't know when making upgrades is seeking permit.
Yes, some remodeling projects require a permit from the city government because the changes to your home will also be noted by the records. These records come handy during home inspections and when you're seeking proof that your property complies with building codes.
Which renovations require permit? Here are some projects for which you'll need to procure a permit:
Fencing Installation or Repair. Before you install or repair a fence, you should check with city regulations if there's a height restriction. If you hire a fencing contractor, he should know about the regulations.
Window Installations. If you plan to install bigger windows or skylights, you need to seek a permit before cutting the holes.
Plumbing and Electrical Work. Major plumbing and electrical installations require a permit. But if you'll just be doing minor electrical repairs, you should be okay.
Structural Changes. Any structural change your contractor will do to the house will require a permit.
Heating Maintenance. Replacing the water heater requires the heating contractor to get a permit. Any change to the ventilation system, gas and wood fireplaces, and ducts also need a permit. But if you're just going to replace the filter or clean the equipment, you don't need one.
Any additions or remodels above $5,000 needs a permit. This includes deck, garage, and sheds that require electrical or plumbing services.
What renovations don't need a permit?
Here they are:
Painting and wallpapering
Bathroom and kitchen fixture replacement without plumbing line modifications
Freshening up the exterior with a new siding
Installing flooring
Minor electrical repairs
Installing new countertops
Installing or replacing a faucet
Landscaping work
Step 5. Set a timeline.
A timeline keeps everyone on the same page.
You need to have a projected timeline for the projects, especially if you're planning to sell your Frisco home.
Any upgrades must be completed before you list your home, because as soon as you put your property on the market, you would need to have marketing photos and videos taken. A messy house will not appeal to the buyers.
If you're considering minor updates, two weeks to a month should be enough.
Step 6. Prioritize repairs.
Before you proceed to doing any aesthetic improvements to your home for sale in Frisco, you first need to take care of any repairs or home maintenance issues.
Homes which have been lived-in for many years have wear and tear issues. Taking care of these repairs and maintenance issues will ensure that buyers will be willing to pay top dollar for your home.
The following are some repairs worth making before you list your home:
1. Exterior. First impressions are vital in selling a home, and your home’s exterior is the first thing a buyer will see. The exterior is also the most exposed to harsh weather, so it must be kept in good condition always. Problems like loose shingles, torn gutters, loose sidings, missing fence boards and unkept yards must be take care of. Patch up any hole marks on the walls.
2. Kitchen. All buyers visit and inspect the kitchen, so if you are to put some money in repairs, spend it in the kitchen. If your kitchen is old and outdated, it is time to replace the countertops, install new appliances and refinish and paint the cabinets.
3. Bathroom. The buyer may love your kitchen but if your bathroom is looking old, with broken and missing tiles, the buyer will walk out and never look back. Most buyers want move-in ready homes, with very minimal repairs as possible, so make sure that you repair the leaking faucet, replace the old toilet seat, install new tiles, clean and re-caulk bathtub and vanities.
4. Flooring fixes. Time has a way of wearing down hardwood floors and carpets, so if you’re to fix something, fix the floor. Have the hardwood floor refinished, and the worn out carpet replaced. A newly refinished hardwood floor looks spectacular and easily adds charm and character to a house.
5. Appliances. All appliances must be functioning! They don’t have to be new, but they must all be working.
6. Doors and windows. Check your windows. If you have windows that are cracked or don’t open or close property, fix or replace them. Your doors must all be working properly, and there should be no creaky sound when opening.
Each house is different. What your house needs may not even be on this list. But don’t worry. Your Realtor® will walk with you and give you a list of the necessary repairs your house needs.
Step 7. Identify the cheap fixes.
You want to save money as much as possible, even when you’re doing home improvements. Is this possible? Yes, it is. You just have to know the budget-friendly projects that will not deplete your wallet.
To make things easier for you, I’ve listed down the most affordable projects you can do for each part of the home.
Inexpensive ways to boost your home’s curb appeal.
Power wash your sidings and walkway. Washing your sidings and walkway will clear all the accumulated dirt and make your walls look cleaner.
Check out this amazing video on how to pressure wash like a boss!
Clean the windows. This will not cost you anything, yet it can make your home look so much brighter and newer.
This great video provides some amazing tips on cleaning the windows without spending anything!
Trim trees, front lawn and bushes. Buyers love a well-maintained home. Overgrown trees, out-sized bushes and dry lawn scream unkempt and ignored.
Paint the front door, trim, shutters and garage door. You want your front door to pop, so painting it and adding trim can make it stand out.
Install new porch lights. Porch lights improve a home’s aesthetics, and it also enhances security and safety.
Install new house numbers. When you want your home number to stand out, installing a new house number will help. It also looks very attractive.
Add planters. Give your home a cozy and inviting feel by adding planters.
Do a mailbox makeover. Don’t keep your sad mailbox. Make your mailbox attractive by repainting it or getting a new one.
Add flower boxes. Give your home a pop of color by adding flower boxes.
Dress your entryways with potted plants. Place some potted plants on your walkway and porch.
Want more tips? This video has some great suggestions.
Cost-effective ways to boost home’s value on a budget.
Declutter. A home filled with belongings look smaller than its actual size. Clear your home of any items you don’t need or you don’t use. If necessary, rent a storage space so you have a place to store your items. This will clear up the space, making your home look bigger.
Clean. Buyers are impressed when a home is clean and well-kept. Everything from the ceiling to under the sink and baseboards should be clean. Cleaning the windows will let the light in.
Paint, paint, paint. This is one of the cheapest ways to increase a home’s value. Painting your home will improve its look, and can make it look more spacious and bright. Choose a neutral color tone that’s easy on the eyes.
Replacing light fixtures. If you’ve lived in your home for several years, you’ll surely have to replace some of the lightbulbs. Switching to energy efficient light fixtures is also a good idea.
Step 8. Start upgrading!
Now that you have a clear idea of what to upgrade, it’s time to start the project.
Make sure to stick to your budget and deadline, and know when to stop.
Budget friendly home improvements
It’s always good to learn from the experts, so that’s what we will be doing.
If you’re planning to upgrade your kitchen, here’s how you can do it under $100.
How about a bathroom upgrade under $500? Yes, it’s possible!
We cannot forget curb appeal! Find out what words of wisdom Property Brothers share with us.
No matter what you’re budget is, you can make a home improvement. This video shows how.
In home improvements, it is better to invest in minor upgrades than in expensive upscale ones. This ensures you don’t overspend, you don’t go over budget, and that the money you spent will get a good return.
Are you planning to sell your Frisco home this year?
Call us, Loreena and Michael Yeo, at (214) 783-2210. We would love to help you sell your home efficiently. We've always worked hard for our clients because we know they deserve the best. That's what you'll get from us - consistency, professionalism, integrity. We look forward to hearing from you.
Find out what our clients said in our client testimonial page https://www.316realestate.com/About-Frisco-TX-Homes-Real-Estate-Testimonials/.
In case you cannot view this video here, please click the link below to view How to Increase Your Home's Value Without Breaking the Bank on my YouTube channel: https://www.youtube.com/watch?v=m8xOEmT0FAE&feature=youtu.be
