If you have lived in the same house for a while, you are not alone.
Homeowners are staying longer than ever before. The typical homeowner now spends about 13 years at home, up from about 10 years ago, according to a Redfin study. Home tenure is particularly high in California – Los Angeles homeowners maintain their homes for an average of 18.1 years, up from 13.6 years in 2012.
Redfin economists attribute the increase in tenure to a growing number of aging homeowners, a national lack of housing supply and more affordable housing payments for those who have recently refinanced with lower mortgage rates.
However, if you’ve owned your home for a while but have not informed them, now may be the time to make some home improvements.
After all, there is a good chance that you have recently acquired a significant amount of equity – the average home equity borrower saw his equity rise by almost $ 57,000 between the third quarter of 2020 and the third quarter of 2021 alone, according to real estate data company CoreLogic. This is the equity you can use through a redemption refinancing credit line or home equity (HELOC).
Making a few upgrades to your home can modernize your space and make it more attractive to buyers if you want to sell soon.
Here are five ways to make an old home feel fresh.
1. Paint old or damaged walls
“Painting can make the most difference in any room,” says Caroline Harmon, a trend specialist at Lowe’s. A new paint is especially valuable if your walls are shattered or smudged or have other defects.
Choosing the right color palette is important. “Earthy colors and neutral colors are soothing and blend easily throughout your home,” says Harmon.
Another safe bet: “Off-white can give the illusion of more space,” says Emma Glubiak, a lifestyle expert at home improvement site The Spruce.
To attract a larger group of home buyers, it is wise to avoid colors that provoke a love or hate reaction – even if color is a trend on Instagram. For example, mint green is popular in kitchens right now, but many real estate agents in recent Zillow Research said buyers would pay less for a house with a green mint kitchen.
2. Give a facelift to your kitchen
“Often, a kitchen does not need to break out, it just needs a few changes to feel fresh,” says Sarah Fishburne, trend and design director at The Home Depot.
He suggests replacing the old knobs of the kitchen cabinets and drawers with modern material, installing a faucet without touch and installing (or updating) a backsplash. Just make sure the backsplash is connected to the benches, says Fishburne.
3. Replace dated luminaires
Lighting has a great effect. “Not only does it illuminate your space, but it can determine the look and feel of any room,” says Harmon. “Lighting is often referred to as the ‘jewel of a room’, as it really adds a finishing touch.”
Lighting designs are coming in and out of fashion, so consider replacing outdated sconces, pendants and chandeliers if they look old-fashioned, says Fishburne. Also, if a room is dim, it may be a good idea to replace the soft white bulbs with daylight bulbs.
It also encourages homeowners to look at their exterior lighting. In some cases, the finish of a luminaire just needs to be updated with a new coat of paint, instead of replacing the entire luminaire. For example, “glossy brass is no longer popular,” says Fishburne.
4. Reinforce this restraint
Limiting attraction – how your home looks from the outside – can significantly improve the way buyers perceive your home. In fact, on average, high-profile properties sell for 7% more than homes with a less hospitable exterior, according to a 2019 study published in the Journal of Real Estate Finance and Economics, which rated impact based on aspects such as cut bushes and manicured lawn.
As a result, take stock of your landscaping. “Sometimes with older homes, people who are not gardeners let the shrubs, plants and trees grow too big and just need a good haircut,” says Fishburne.
Having a green thumb, creating a flower bed or planting trees and shrubs that add volume, can make your front yard more attractive. And if you’re looking for landscaping ideas for your home, consult a landscape architect – most charge $ 70 to $ 150 an hour, according to HomeAdvisor.
5. Say goodbye to the carpet
Research shows that carpet – a common feature in older homes – is out of fashion.
Tearing off an old rug should be fairly easy, but replacing or repairing the one underneath can be more difficult. According to a March 2021 poll from the National Association of Home Builders, the majority of home buyers said they preferred hardwood flooring, with 32% saying hardwood flooring in the main living area was “necessary”. Therefore, if your house has carpet, especially carpets that are noticeably worn, consider installing hardwood.
In addition, the restoration of the original hardwood floors can help a lot. “Bring a professional who knows how to work in old homes to restore your floors to their former glory,” advises Mallory Micetich, a home care specialist at Angi, home service site formerly known as Angie’s List.
On a budget; Consider laminate, which is usually less expensive than real wood and is easier to maintain.
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