7 Under $10K Renovations That Will Seriously Boost Your Home's Value
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Your home is one of the biggest investments you'll ever make. And while buying one is a major cost, the maintenance and upkeep can feel equally wallet-busting. However, there are so many under $10,000 home renovation projects that can make a major impact, offer a great ROI, and even boost your home's value when it comes time to move. Ahead, we're breaking down seven home projects, all with an average nationwide cost of under $10,000, that can seriously boost your home's overall value and appeal.
Install a New HVAC System
One of the most expensive projects on this list, a new HVAC system is an essential way to have your home run more smoothly. There's nothing worse than a shower that suddenly runs cold. If you have the extra funds, it's important to invest in an energy-efficient system. This can help to lower your energy bills, but you also may qualify for a tax credit to help offset project costs.
Longevity has also become a major point of concern recently for potential home buyers. Amid climate change unpredictability and financial turmoil, people want to know they're buying a home that will last. The average cost to replace a home's HVAC system drastically changes with the size of your home, but you can expect to spend $5,000 to $10,000, including installation costs, for a standard system, according to the American Society of Home Inspectors. High-tech systems, like solar or geothermal pumps, will run you a bit more.
Paint Your Home's Exterior
A tedious task, but one that makes a major impact, a fresh coat of exterior paint can instantly boost your home's overall value. Plus, it offers a great first impression to potential buyers arriving for a viewing. Neutrals like white, navy, beige, and grey are the most popular (and most timeless) exterior paint colors to consider. It costs $1,811 to $4,533 (a nationwide average from Angi's data) to paint the exterior of a house, averaging $1.50 to $4 per square foot. However, two-story homes and those with dormers or intricate architecture will cost more due to increased safety costs.
Invest in Professional Landscaping
First impressions matter, especially during viewings when you're trying to sell your home. A professional landscaper can help optimize your outdoor space and determine how to have a stunning garden, even in the winter months. This kind of work costs an average of $3,523 or between $1,249 and $6,071, according to data from Angi. A well-maintained exterior can increase your home’s value by as much as 7 percent, according to one real estate study from the University of Texas at Arlington. However, in areas with high demand, or a slower seller's market, this number can jump up to a nearly 14 percent boost in value.
Install a Secure Fence
Properties that have picket fences are regularly viewed, saved, and shared more on Zillow, up to 31 percent more than homes that don't have a fence. Installation costs depend on where you live and the material you use, but the average national cost to put in a picket fence ranges from $7 to $45 per linear foot. Costs will also vary depending on the material you choose. Fences are beneficial not only for aesthetics but also for the safety of kids and pets.
Swap Your Light Fixtures for Smart Models
Smart-home swaps have increased in a major way with the advent of Alexa and Google Home products. Automated, dimmable, and voice-activated light bulbs and light fixtures have become an enviable addition to a listed home. In fact, on Zillow, homes with smart lighting get about 18 percent more bookmarks and 23 percent more shares per day. Smart lightbulbs that can sync with your smart home system can cost as little as $40. According to Home Guide, the average cost to replace a light switch is $50 to $250, including labor and materials. A new light switch costs slightly more, with an average range of $100 to $300. Replacing an existing switch with a dimmer or smart switch costs $80 to $250+
Equip Your Home with a Backup Generator
As the climate gets more unpredictable, ensuring your home has a storm-proof plan for power is increasingly necessary. Whether you opt for a whole-home generator or a smaller system for crucial appliances, potential buyers are willing to pay more for homes that already include these systems. According to the renovation resource site Angi, the average all-in cost for a home generator system is between $1,471 and $8,340, with homeowners spending $4,906 on average.
Add ADA Accessibility
ADA Accessibility upgrades can take many forms. On the lower end of the cost spectrum, swap any rounded door knobs or hardware knobs with levers or rectangular handles for easy gripping. A bath grab rail or no-step shower stall can also help make your home more suitable for older buyers or those with a physical disability or mobility issues. Of the larger cost options, incorporating safety stair railings or an entrance ramp is a great option. According to Angi's data, installing stair railings and balusters costs $900 on average, depending on the size and materials. Most spend between $200 and $10,000.
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