Four easy, inexpensive ways to add value to a home

The housing market might be a little unpredictable, but selling a house during these difficult economic times isn’t impossible. Homeowners wishing to sell now or those who are renovating in preparation for a future sale have a bevy of options to improve and increase the value of their homes without spending a fortune. A little creativity and some elbow grease will attract the real estate profits. The following, in no particular order, are five home improvement projects that can leverage a house's resale value.  

1. Create space

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If the house has small rooms, knocking down a non-structural wall or two can create the illusion of space. Many buyers prefer open-plan homes that ease the flow of foot traffic, make it easier to entertain guests, and provide them with the flexibility of designing rooms exactly the way they want. Open-plan kitchens are great for young families, too: parents can watch the kids while they're preparing meals.  

2. Use the power of paint

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A fresh coat of paint indoors and outdoors improves a home's appearance and adds instant value. It's also inexpensive, especially when compared to the costs of replacing faded wallpaper. White, neutrals, and pastels can make a small room look bigger, and bright hues create the illusion of light.

3. Add some curb appeal

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Trees, flowers, and plants prettify home exterior. Research says that these trimmings add real value to property, but when landscaping for curb appeal, homeowners should consider their target market and the type of house they have. A formal garden with rows of perfectly manicured trees would look odd with a rustic log cabin, while a profusion of flowers and climbing vines can make a stately Georgian home look unruly and rundown.  

4. Add eco-friendly features

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Results from research conducted by the National Association of Realtors show that an average of nine out of 10 recent home buyers considered energy costs as an important factor when choosing a home for purchase. Simple changes, like updating old window panes with low-e glazing, installing a timer for the water heater, and insulation can increase a house's value, especially in the eyes of eco-conscious buyers.  

Tom Galloway of Muskegon is the founder of Galloway Custom Homes, a leading custom home builder that specializes in high-quality, energy-efficient homes. For discussions on home renovation projects, like this Facebook page.