6 Home Improvement Schemes that Can help avoid Bankruptcy

When you’re months away from bankruptcy, stop selling small items like your car or vintage earrings. These only provide temporary relief, lasting a few weeks. Instead, sell your house for a significant financial boost. Though letting go is tough, list your house and stay with family, like your mother, until your finances stabilize.Selling an older house is challenging. With careful planning and thorough preparation, you can attract the right buyer quickly.

1. Granite Countertops vs. Leaky Roof and Pipes

Given a $10,000 budget to upgrade your home, what are your top five priorities? Would you fix a leaky roof costing $200–$500 or spend half your budget on elegant granite countertops?

Buyers admire stylish kitchen countertops but prioritize a home free from leaks or faulty pipes. Present a simple, well-maintained house with no signs of wear to attract buyers.

2. Wallpapers vs. Painting

A house’s age shows in its walls. Update them to make the property feel new. Many choose wallpapers, which you can apply yourself, costing $35 per roll to cover one room. However, wallpapers may lower your home’s value. Painting, costing around $300 for materials and labor, is a better investment. Choose low-VOC paints; they’re eco-friendly and less expensive than traditional options.

3. Bathroom Renovation vs. Bedroom Renovation

Everyone wants a cozy bedroom, but no one wants a clogged bathtub or a filthy sink. Homes with one bathroom are harder to sell. Add a half bath (18 square feet) or a full bath (35 square feet) to recover over 80% of your investment. For bedrooms, spend no more than $1,000. A clean, decluttered bedroom with fresh sheets, vacuumed carpets, and tidy side tables sells itself.

4. Lavish Landscapes vs. Remodeled Kitchen

A stunning front yard is appealing but may intimidate buyers with high maintenance costs. A simple, well-trimmed garden impresses enough. In the kitchen, avoid replacing appliances with high-tech models. Keep countertops clean, organize spices and cabinets, and remove clutter to make the space look neat and spacious.

5. Insulating the House vs. Checking the Air Conditioning System

Insulation boosts a home’s appeal, but it’s costly and impractical if you need to sell quickly. Instead, ensure your heating or air conditioning system works well. Buyers value proper ventilation, so have it checked before listing.

6. Hiring a Professional Stager vs. Property Appraiser

A stager makes your house appealing, but an appraiser ensures profitable pricing. Attractive staging draws buyers, but a professional appraisal justifies your price with solid documentation. Hire an appraiser to set a fair market value for your property.