If you didn't know the housing market was in the dumps right now, it probably means you're living under a rock.
Most people are staying put and waiting for the market to correct itself, but if you have to sell your home now, experts say it's not impossible.
Mike Klein, CEO of the suburban home design business Airoom, says many people realize that making renovations in their home will increase it's value. But the key is to make the right renovations.
"Kitchens and bathrooms sell homes, so renovations in those areas that require little effort and money on the part of the homeowner but still increase overall value are the best ones to make," Klein said.
Klein suggests these little fixes that will make a big impact:
- Backsplashes: Backsplashes add visual appeal as well as practicality to your kitchen. Popular options including stainless steel, glass tile, ceramic tile, mosaic and mural. Most varieties range from about $30 to $100 per square foot, making for a relatively inexpensive upgrade.
- Countertops: The material that covers your kitchen counters is one of the most visible and memorable features in your home. It helps to establish the design, color theme, and level of finish. Granite countertops are functional and sturdy and have a classic and stylish look. To lower price, tiles can be used instead of slab granite. Other affordable options include laminate and stainless steel, ranging from $15-$60 and $50-$150 per linear foot, respectively.
- Cabinets: Simply refacing cabinets or adding new hardware can be a great way to update their look. Painting or refinishing can help cabinets match with the overall décor of a room, and also make older cabinets look more modern. Selecting new knobs, bars and pulls for cabinets and drawers can give cabinets a distinctive and unique look while also making them more functional.
- Fixtures: A leaky faucet or an outdated light fixture can make a home look shabby. The key to changing these is to keep them simple and classic, so as to appeal to a wide range of people. If you choose either very detailed or plain and cheap fixtures, that may turn some potential buyers away.
