In the current real estate market in most homeowners are facing a scary reality; a rapid depreciation in their home's value.
According to the National Association of Realtors, the median existing home prices continue the downward trend and are not expected to recover until well into 2009.
One way to buck that trend and boost the value of your home is to make some basic renovations however there is no need to embark on big ticket projects, you most likely will not recoup all of the costs anyway. Instead, seek out some inexpensive projects that will not only brighten up the place may put a little extra cash in your pocket should you decide to sell your home. Here are five you may want to consider:
1. Paint; a little fresh paint or varnish can go a long way but remeber to keep neutral colors if you are selling soon.
2. Basic Maintenence; aim to complete a few small maintenence projects each month, like fixing the creaky floor or replacing the cracked light swith plate.
3. Energy Efficient Upgrades; such improvements will cut your energy bills, but they will also be attractive to buyers hunting for more earth-friendly homes.
4. Install New Fixtures; new hardware can completely refreshen an outdated home and the cost is cheap.
5. Landscaping; a first good impression is critical for buyers as is having good curb appeal.
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The source of the listing data is as follows:
My Florida Regional MLS (updated 6/22/18)