new year diy renovations to increase your homes value

New Year DIY Renovations to Increase Your Home’s Value

There’s nothing quite like the start of a new year to bring fresh energy, inspiration and ideas. With 2022 right around the corner, why not use that New Year spirit to increase your home’s value via renovations? Here’s the best part: there are many potentially lucrative projects that you can do yourself. Here are a few quick, simple DIY renovations that can help boost your home’s value in the New Year.

Start small

Skill level: Beginner

If you’re brand new to DIY renovations, it’s a great idea to start small. However, don’t be fooled — these simple projects can make an enormous impact. First, start with a deep clean. While it’s not a renovation, it can dramatically improve the look of your home. Go beyond the basics and try to look at your home with fresh eyes. When we see it every day, it’s easy to gloss over the soot on the fireplace mantel and the sticky fingerprints on the windows. Don’t forget the exterior, either. Power-washing the walls will make a big difference. Once you complete your cleaning deep dive, you’ll be surprised at how different your home looks!

Next, try updating your walls with fresh coats of paint. New paint will help cover any scratches or stains. Plus, it typically has a 100% return on investment and can increase the value of your home by 5%! If you’re planning to sell soon, opt for neutral colors, such as white or cream.

Level up your skills

Skill level: Moderate

If you’re ready to move on to a more complicated project, it’s time to tackle your fixtures. Replacing outdated fixtures in your kitchen and bathrooms can help revive these rooms for very little money. Plus, if you’re selling, buyers tend to see these as the most important rooms in the house. You can find switch plates and outlet covers for as little as $5 each, but they’ll look like you paid a lot more.

Next, try a DIY renovation that’s a little more complicated but adds beauty and sophistication to your rooms: crown molding and wainscoting. Crown molding can be as simple as cutting the pieces to the correct length and nailing them to the top of the wall. Wainscoting is a bit more involved, but the finished look is stunning. You can choose from several different styles and complete the project in less than a day.

Ultimate DIY renovation projects

Skill level: Advanced

Finally, if you’re ready for a bigger DIY renovation project, look at new flooring. Replacing linoleum, old tile or worn-out carpet can breathe new life into any room. If you’ve never done this before, your local home improvement stores might have how-to classes. Saving money on labor leaves you a bigger budget to choose more expensive flooring.

If you live in an older home with carpet, it’s entirely possible that you have lovely hardwood floors underneath. Peel up a corner of the carpet and check for yourself. If you do find hardwood, you’ll need to restore it to get that shiny, new look. This process includes cleaning, prepping and sanding until your hardwood sparkles again. However, restoration is much less expensive than replacement.

A partner in the process

Some home renovation costs are significant. Speak to our knowledgeable mortgage loan officers at First Centennial Mortgage about a cash-out refinancing or HELOC loan option. Or, once your DIY renovations are complete and it’s time to sell your home and finance your next, you’ll need a partner who understands how to make your home equity gains work for you. Whether you’re looking to sell your current home and buy your next, or refinance, contact us today to learn how we can help.

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