Home Hacks

3 affordable features that can increase the value of your home

Real estate mogul Sidney Torres: 3 simple tricks can increase the value of your home

Renovating a home in the hopes that it will sell quickly and for a profit doesn't have to be a costly, time-consuming process. In fact, just a few simple add-ons can make a significant difference.

CNBC Make It sat down with real estate mogul Sidney Torres, who helps struggling property investors on CNBC's "The Deed," and asked about affordable features that can add value to your home.

Here are three details he says are worth investing in.

1. Dimmer switches

Dimmer switches let you adjust the light levels in a room by sliding a level or turning a knob. They're an affordable way to "create a nice ambiance," says Torres, since they can "really set the mood and the space."

He likes to install dimmers in "all the different rooms that you live in a lot, for example, the kitchen area, the living room area, the bedroom, even bathrooms."

Cost: According to HomeAdvisor, dimmer switches average $10 to $25 each but can cost up to $50 depending on the style you choose. Since you'll probably be installing multiple dimmers, the project typically ranges from $100 to $200.

Sidney Torres of "The Deed"
Walling McGarity photography | CNBC

2. Under-cabinet lighting

Under-cabinet lighting is as simple as it sounds: A strip of lighting that runs underneath your cabinets. But the benefits can significantly boost the value of your home, says Torres, who likes to include this feature in the kitchen.

And it's easy on the budget, says the real estate veteran: "It's not expensive to do, but it's nice. It washes down the backsplash. You can also put them above the cabinets, which is nice too. If you have nice crown molding, it features the crown molding."

Plus, under-cabinet lighting adds depth to your kitchen: "It gives the ceiling height and makes it feel higher than what it really is." It may even save you money on your energy bill.

Cost: The total cost will depend on how many fixtures you want to install but expect to pay $230 to $330 per fixture if you're hiring a professional, ImproveNet estimates.

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3. Pre-finished engineered flooring

Rather than installing unfinished planks that are then stained and finished on-site, consider using pre-finished flooring, says Torres. This type of flooring is "pre-engineered before it actually comes to the job site," he explains, so when it arrives, it's ready to go as soon as it is installed.

"Today, they have really stepped it up with pre-engineered flooring" in terms of quality, he adds.

Cost: No matter what type of flooring you choose, it's going to cost four-figures. The good thing about pre-finished flooring is that installing it tends to be cheaper since the finishing is done in a factory setting, rather than on-site, and so requires less labor. That said, the material costs of pre-finished flooring will cost you more than for unfinished flooring, so in the end, you may end up paying about the same.

Where you really benefit from pre-finished flooring is on time saved, and time is money, Torres notes: With pre-finished floors, "you don't have to hire another crew to come in, sand down the floors and finish them out," which can end up being a two to three week long process. "So it cuts down on the schedule."

Watch Sidney Torres in CNBC's "The Deed," premiering Wednesday, June 13 at 10:00 PM Eastern.

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