My husband and I bought our first home two years ago; it was a picturesque 1975 house complete with wood paneling, shag carpet, and even a blue bathtub and toilet. What possessed us to pick a home that needed so many improvements and could have been featured on the Brady Bunch? Well for one, we could see the potential, and also my husband had years of construction and remodeling experience, so it fit into our vision and expertise. Our project is still a work in progress, but the interior is completely updated to our liking. However, not everyone’s projects turn out to be successful. We live in the age of DIY and Pinterest, and popular HGTV shows where it seems like it’s simple to accomplish everything yourself and have the perfect home, but this is not always the case. Here are some tips that I have learned along the way that have helped keep our projects on budget and create the most value for our home.
1. Be realistic- I cannot stress this enough! If you do not have a lot of experience with remodeling do not buy a house that requires extensive work. Too often have I seen someone bite off what they cannot chew and end up paying lots of money to hire someone to complete their projects, or they end up with half-finished projects and do not have the time or resources to complete them. Pick a home that has more cosmetic updates rather than structural. Flooring, painting, simple tiling projects, and updating appliances are great and easy ways to remodel your house yourself and up the value level. Wanna move a wall, add a bathroom, or fix the leaky basement? Better leave that to a pro or have some experience and/or friends who can help in these categories. If money is not the issue, then great!
2. Do NOT buy the very first house you look at- I know this is an exciting time, and you want to be in your house as quickly as possible, but do some shopping around. We looked at dozens of homes before we purchased ours. Looking at a variety of homes helps to establish what you truly want in yours. Maybe you thought you always liked homes with closed off rooms, but then you looked at one that has an open concept…you fell in love. It also helps to establish long term happiness. Sometimes if you jump on the first thing you like, it may only satisfy what you wanted in the short term. You might have loved the porch so much that you forgot it only had three bedrooms when your family clearly needed four.
3. Work on projects that add value- According to This Old House the projects that add the most value include creating more space, landscaping, lighting, small maintenance, efficiency, exterior upgrades, flooring, bathroom remodels, and kitchen upgrades.
Creating more space could simply mean creating an open floor plan by knocking down a wall between the kitchen and dining room, or converting a basement room to a bedroom.
Landscaping and your exterior is your first impression to potential buyers. Even if the inside is beautifully updated, if the outside looks unappealing buyers may not even be inclined to take an inside look. Easy updates include: painting the front door and adding modern style house numbers to the front; medium updates include: creating a flower bed and retaining wall or adding shutters to your front windows; and large updates include: re-siding, creating a landscaping feature or paved patio, and replacing the garage door.
Lighting could simply include making a space feel brighter by adding LED bulbs. If you want to take on a larger project, adding a large window to an otherwise dark space can make all the difference. Buyers also like having the option to control the lighting to their house, so adding dimmer switches can be a great choice in spaces such as the dining room or bedroom.
Be sure to keep up on small maintenance too. This can be done by weeding the flower beds, replacing furnace air filters, cleaning the gutters, and getting your air conditioner inspected. When buyers see unmaintained houses, they either see more work or dollar signs in the future which can turn them off about their purchase. If you do see that some of these things need replacing, purchasing energy efficient solutions pay off better in the long run. Not only will you return on your investment that you put into your purchase, you also appeal to buyers who want to save on energy costs or are environmentally cautious. There are also tax credits to certain energy efficient purchases, such as windows.
Replacing the flooring is an easy way to make a dramatic solution in your home. There are several options and price ranges to meet your needs and budget. When we purchased our carpet, we were offered free installation. Look around for the best deals, usually near the holidays, and always compare prices.
Bathroom and Kitchen remodels are always the priciest rooms to update, but even a little goes a long way. If your cabinets are in good shape, refinishing them is a great option, and something you can do yourself. Replacing a sink or toilet is also a good idea and can cost little. If you are more motivated, add some interesting tiling work to your shower or floor in the bathroom. Ceramic or porcelain tile can be an inexpensive find if you shop around, and can make your bathroom feel custom and luxurious. Look at your local used bargain store for cheaper upgrades. In the kitchen, replacing or adding hardware can also make the room feel more updated, and a fresh coat of paint can do wonders.
4. Don’t always give into trends. I think on EVERY HGTV show I’ve watched these days they have farmhouse sinks installed, and don’t get me wrong they are very beautiful, but how long will they be in style for? Keep that in mind while spending your hard earned dollars in the years to come. If you are planning on staying in your home for a long time, it may be worth it to you to add some trendy accents or custom purchases. There is absolutely nothing wrong with loving slate appliances or that sliding barn door, but if you are planning on selling in the next couple years, keep in mind your future buyer. It is proven that buyers are attracted to neutral paint colors and classic finishes. It could happen that a buyer may indeed love your gigantic fountain in the back yard, but it could also take longer to find that person, and you may not get back the money you put in.
5. Remember in more cases than not, this will probably not be your forever home- If this is your first home, chances are you will not have to live there forever. The average person moves 11.7 times during their lifetime and sells their house every five to seven years according to homeinsight.com. Learn to live with the small things you can’t stand, because chances are you have built some equity into this home and you will have more to spend on the next home to make it perfect. Understanding this also helps you to not go crazy and spend a ton of money to make it just how you want it. Slow down and improve on the things that will improve the quality and value of the house. The longer you plan on staying in your current house, the more you can justify changing and customizing it to your liking. Starter houses are not meant to be dream houses. If it is to you, you have hit the jackpot! Keep in mind this before you blow your budget and purchase a home you cannot keep up with the mortgage payments on. You don’t need to purchase the latest and greatest of everything on your first home. Keep it simple and have fun with the process.
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