How To Increase Resale Value of Your Home by 2K
According to HGTV, updating your living room decor can bring a 66 percent return at resale of your home. That means that every $1 you spend will increase resale value of your home by $1.66. Not bad!
In a recent article, HGTV estimated that spending about $1,350 on staging and updating living room decor will get you new light switches, outlet covers, floor registers, crown molding, chair rails and drapes, plus fresh, live flowers and accessories.
$1,350 (spent) x 1.66 (return rate) = $2,241 (value increase)
The article also shares a few tips on getting the most return on of your living room remodeling.
6 Tips on Getting the most Return on of your Living Room Remodeling
Tip 1: Choose molding that complements window trim and floor boards.
Tip 2: Move furniture away from the walls to make living rooms feel larger and more contemporary.
Tip 3: Create a seating area around a feature you want buyers to notice — like a dramatic fireplace.
Tip 4: Don’t move excess furniture and clutter into the garage. Rent a storage unit for about $1 per square foot per month.
Tip 5: Consider new window treatments to add designer look on a cheap.
Tip 6: Create the illusion of higher ceilings by positioning drapes and valances higher on the wall.
Bonus Tip: Add a WOW effect to your living room by adding a ventless fireplace that you can install yourself in a few minutes.
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