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2/9/2023

Turning Your House into a Home

When it comes to home improvement projects, the cost can be a major factor that deters many people from undertaking them. However, there are many ways to make improvements to your home while still staying within your budget and enjoying the benefits of a better home. 

A Changing Landscape Brings New Expectations

The Olympia housing market has not been immune to the transitions that have occurred over the past few years, but agent Stacey Gravatt doesn't think it means sellers should give up on trying to sell their property or that buyers should stop looking. 

"The best way I can describe this market is that it's softening," she says. 

Over the past year and a half, the average age of first-time home buyers has jumped three years (from 33 to 36 years old in 2022). Part of that comes from the median home price of over $660,000, making it more difficult for entry-level younger adults to find a home. 

While these changes have brought a new wrinkle to the market, it doesn't mean that sellers can't find someone to purchase their home. It just means that you might have to make some edits and additions to your home that you may not have anticipated when it first came on the market. 

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Why Home Improvements Matter in This Market

Taking on a home improvement project on a budget can save you a great deal of money, especially if you plan and budget carefully. You can reduce the cost of the project by being mindful of the materials you choose or by doing some of the work yourself. Improving your home can increase its value, which can be recouped through a higher sale price when it comes time to sell. This is a great benefit of home improvement that can help you get more out of your investment.

Doing home improvement projects on a budget can still improve the overall comfort of your home. You can install new appliances or upgrade existing ones, which can help increase energy efficiency and reduce your energy costs in the long run. Additionally, you can add features like insulation to increase your home's comfort further.

Making improvements to your home can also increase its value, making it more attractive to potential buyers. A beautifully renovated home can be a major selling point and can make it easier to sell in the future.

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Home Improvements You Can Make on a Budget

For sellers, simple home improvement projects like repainting dated rooms, small kitchen remodels, and light landscaping are all things that Stacey says could help make your home feel welcoming, helping maximize your home sale. 

For buyers, the key is not to let perfect be the enemy of good. 

"The average person will buy three homes in their lifetime," Stacey says. "People have to keep in mind that this isn't going to be their only home. Don't let something not being absolutely perfect deter you from buying your first home."

Just because a kitchen doesn't look exactly the way you envision doesn't mean you should abandon your other priorities if the property checks most of your boxes. 

Make Your House Feel Like a Home

These are just a few of the pros of improving your home on a budget. With careful planning and budgeting, you can still make improvements to your home and create a comfortable and attractive living space, all while staying within your budget. By taking the time to research the best materials and techniques, you can make sure that you get the most out of your home improvement project and enjoy the benefits for years to come.

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