Should I downsize my home? Learn the top 3 money-smart reasons to do it.
4 Minute ReadTopic: home selling
Have you ever noticed how the decision to sell your home inspires grand ideas for major renovations? Suddenly, you can’t see past all the things you think buyers will hate about your home.
We’re here to set the record straight: You don’t have to spend thousands of dollars or weeks of toil and sweat to make a home sale worth your while. With staging—and the help of a high-octane real estate agent you can increase your home's value without a huge investment.
Does it work? According to the National Association of Realtors, most agents say buyers will pay 1–5% more for a home that’s been staged. That’s a potential $2,000–10,000 added to the value of a $200,000 home!
Want to add a few thousand bucks to your home value? Give these options a whirl. Each of the following scenarios cost less than $300 and can be tackled in just a matter of days.
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Option 1: Add Home Value by Neutralizing the Interior
Bob and Judy don’t have to worry about an outdated home. Judy’s a big HGTV fan and regularly works new design trends into her décor. But over the years, her decorating fervor has inspired a different paint color for every room, leaving their open floor plan feeling disjointed.
All they need is a fresh coat of neutral paint to increase the home value and make their home feel light and airy. Bob and Judy don’t have a huge budget, so they decide to tackle the job themselves. They focus on the main living areas and find a bargain on paint and supplies at their local Habitat for Humanity ReStore.
Option 2: Reclaim Family Spaces
Jim and Karen have three kids under six and have gotten used to their home feeling like a war zone. Baby equipment has taken over their living area, and their dining room serves as extra toy storage. If they want to sell their home, they need to make some changes.
After clearing out the clutter, they cozy up the living room by focusing furniture around the fireplace instead of the TV. New lamps light up dark corners, while fresh flowers, new curtains and throw pillows add an extra punch of color.
Karen tops things off by breaking out her best dishes and linens and using them to dress up the dining table.
Option 3: Transform the Master Suite
Laurel is an empty nester who’s looking to downsize now that her kids are off to college. After years of juggling family and career, she realizes she never took time to create her own space to unwind at the end of the day. She gets to work transforming her master suite into a relaxing retreat.
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Laurel’s first order of business is minimization. She organizes her linen closet and packs up off-season clothes and shoes. Her treadmill finds a temporary home in her sister’s basement.
Laurel scours local and online outlet stores for everything she needs to prep her home and increase its value. Fluffy white towels inspire a spa-like feel in the bathroom, and a crisp white comforter set creates a fresh focal point in the bedroom. She completes the look with decorative pillows and a set of matching lamps for her nightstands.
Option 4: Pump Up Curb Appeal
Rob is relocating to another state for his job. His real estate agent recommends dressing up the exterior of his ranch-style home.
Rob starts by washing off the layers of grime that have accumulated over the years. Then he paints his front door red and adds decorative house numbers to give his drab entryway a much-needed facelift. Instead of springing for brand-new porch light fixtures, he rejuvenates his existing ones with a specialty spray paint. A cheery welcome mat and brightly colored flowers might not be Rob’s style, but he knows buyers will love the inviting dose of color on his front porch.
Before the For Sale sign goes up, he mows the lawn, trims all the hedges, and tidies up flower beds with a fresh layer of mulch.
What’s Your Plan to Add More Home Value?
Of course, every home is different. We’ve made some assumptions in these examples. But hopefully you found some inspiration to get you started! You can mix and match ideas you see here or come up with a few of your own.
Just be sure to consult your real estate agent first. A good agent knows what homebuyers in your area are looking for and can point you toward improvements that get the most bang for your hard-earned bucks. Need help finding a qualified agent in your area who can help you sell your home? Contact one of Dave’s Endorsed Local Providers (ELPs) today!