If you are thinking about buying your first home, you might be dreaming of doing DIY updates to make it your own. However, not all home updates add value to your home and putting your time, money and effort into the wrong project can cost you in the long run. After all, when it comes to selling your home in the future, not all upgrades will pay you back. Read on to learn four easy ways to increase your home’s value on a budget, so you can increase your home’s value and in turn, your equity!
Ditch That Popcorn Ceiling
If house hunting shows on TV are any indication, few things date a home quite like popcorn ceilings. Often used in days long past, this textured ceiling type is now considered a major eyesore. Luckily, removing it is an easy DIY if you are patient and willing to spend more than a few hours on a ladder—or you can hire a pro to do it for you. Once the ceiling is gone, you will be amazed at how much it updates the look of your home. After your ceilings are scraped, paint them a bright white for a crisp, clean and timeless look that instantly makes your home look more luxurious.
Increase Your Curb Appeal
Your landscape is like a welcome mat for your entire home, and a well-maintained and cared-for yard is a great way to increase the value of your home. Simple tasks like regularly mowing your lawn, raking leaves and adding fresh mulch to any flower beds make a huge difference. If you are looking for a larger impact, consider adding trees and shrubs, retaining walls, replacing a broken or worn fence or even adding a small water feature. If you are looking for a quick fix, simply replacing your mailbox, adding some potted flowers to your porch, painting your front door and replacing your address numbers can make a big difference on a small budget.
Let There Be Light
Lighting is an easily overlooked feature, but good lighting can make a huge difference in the look and feel of your home. Replace broken or damaged lights first, and then move on to replacing and updating outdated features. Consider pendant lights for the kitchen, a fun statement fixture in the bathroom and brighter lights in dark places like closets. This doesn’t have to be a costly update either—many communities have Habitat for Humanity Restores that sell gently used lighting or even brand new chandeliers, pendants, etc., that were donated by builders and that you can pick up for a fraction of the cost you’ll find at home improvements stores. And remember, that even just replacing light bulbs around your home with energy-efficient ones can increase your value and save you on your electric bill in the long run.
Go Green
Energy efficiency isn’t just popular, it is a huge money saver, too. To easily and quickly increase your home’s value, swap out appliances and home elements for energy efficient ones that will help keep energy usage low and utility bills low. Some of the easiest and most convenient ideas are:
- Install a programmable thermostat
- Switch to a low-flow toilet and shower and try a faucet aerator
- Go with LED lights instead of traditional light bulbs—they are brighter and don’t waste energy with heat
Getting equity in your home isn’t just about upgrades once you buy—it’s about getting yourself into a good financial situation when you purchase your home in the first place. The NC Home Advantage Mortgage™, offered through the NC Housing Finance Agency, offers down payment assistance that can give you the boost you need to buy a home you can afford. With down payment help, you can have more equity in your home to begin with, putting you in a better position to afford it for the long term.
Learn more about the NC Home Advantage Mortgage™ and the other ways that the NC Housing Finance Agency can help make home happen for you at www.nchfa.com/home-buyers.
