How to increase your property’s value with little to no money at all

If you’ve been thinking of sprucing up your home but can’t afford a major reno or any at all, these less-expensive property-value enhancements might be perfect for you. The best part is that some cost nothing, just your time … and elbow grease.

Clear the clutter, then make a plan

Ever seen the show “Hoarders?” Maybe you’re not that bad. But chances are if you haven’t made purging and decluttering a regular thing — something you do every few months — you’ve probably got stuff hanging around that you’re not using and is taking up space. 

Decluttering is key to clearing space in your home so that you can really see what you’re working with. The rules I follow? If it hasn’t been used in six months; if it carries a bad memory; if it’s worth something and I don’t truly need it, it goes. I try to sell what’s most valuable, but also donate or dispose of items. Purging can take time, especially if there’s a lot of emotional attachment to items you’ve collected. What can help with that is reminding yourself that “stuff” can’t make you happy, so it’s OK to part with it.

Once your space is clear, sit in it and start thinking about making it awesome.

Assess the small, clever upgrades that cost the least, first

Don’t start knocking down walls. It could be that the ideal upgrade is fresh paint, and with a light colour, which will brighten the entire place and make it look bigger. Remove stained carpets and fix broken hinges or doors. Could repairing and painting the kitchen cabinets and updating the hardware change the whole look of the space? Would a smooth ceiling vs. popcorn paint open things up in the living room? Could old lighting fixtures, faucets or tub re-sealing do wonders for your small bathroom? 

Never underestimate the power of doing repairs vs. replacements and cleaning the living daylights out of your space once a few small upgrades are done, so that it sparkles.

Maintain and spruce up your property’s exterior 

Start with the grounds and gardens; mowing grass, pulling weeds, trimming bushes and hedges, filling holes, power-washing your deck and disposing of anything that’s broken or just plain ugly.

Assess the lighting situation. Do you need to add more light, update it (energy efficiency is key if you need to swap or add light), fix it? A well-lit, nicely maintained outdoor space can transform your home’s value by making it look safe and feel cosy.

A fresh coat of paint on the exterior, on the trim around the windows or on the front door, can also be an effective way to give your home an upgrade. So much of this work can be done yourself.

Energy efficiency for the win

An energy-efficient property is attractive to buyers because it saves money over time and is good for the environment. But you don’t need to install solar panels. You can do on-budget upgrades like replacing iridescent light bulbs with LEDs, sealing up windows and doors where drafts occur, installing a smart home-energy system, and fixing leaky faucets.

I recommend doing an in-home energy audit if you can work that into your budget. You’ll get a list of recommendations to improve the efficiency of your home and can address them over time. It could include things like eventual furnace replacement, adding insulation, changing old appliances, replacing or repairing AC units. 

Smart storage solutions 

Do you have one of those closets that just has a bar to hang things on? Annoying, right? Setting up an inexpensive closet system — even simple racks — can do wonders. Installing shelves in small spaces, like a den in a condo, can also get things off the floor and add valuable upper storage. The goal is to try to optimize every nook and cranny; under stairs, above kitchen cabinets, at the back of a garage, in a small garden shed. All of this helps to keep your space organized and clutter-free.

Less is more with your decor 

Go room by room and ask yourself what you really need. Jamming more furniture and tables into your space is almost never a good idea. Ask yourself what the space would look like if you cut the decor down by half or even three quarters? Could you create a more spacious look by arranging the furniture differently? If you have knick-knacks on display collecting dust, sorry to break it to you, but this is a space-saving no-no.

If you happen to be getting your place ready to move, “staging” your home with simple decor is key to really showing off a space so that a buyer can envision themselves in it. There’s no need to buy home-staging items. Use what you have and get advice from your realtor on how to set it up.

If these small home-improvement ideas feel overwhelming, try tackling just one at a time. Perhaps this is the day you get out your gardening gloves and finally trim back the hedge that’s encroaching on your front entrance. Tomorrow you can take a few bags of quality clothes for donation. Next week, deep clean the bathroom, throw out that mouldy shower curtain, and reseal the tub. One thing at a time also helps with budgeting for these small improvements over time.

This article was originally published in The Star. Lesley-Anne Scorgie is a Toronto-based personal finance columnist and a freelance contributing columnist for the Star