How to Increase Your Home's Value
Completing Home Projects can truly Increase your Home's Value. However, it is important to know which home projects are worth completing for future increased value.
Before you begin any projects that could increase the value of your home, remember not to raise the value of your property too far above others in the same neighborhood. People who want amore expensive home will go that neighborhood that has the higher priced homes. A good rule of thumb: keep the value of your home within 15 to 20 percent of your neighbors’.
Project (average cost recouped) according to Realtor Magazine:
Minor kitchen remodel (88%)
Bathroom remodel (85%)
Major kitchen remodel (81%)
Family room addition (80%)
Deck addition (77%)
Master Bedroom Suite (75%)
Siding or stucco replacement (73%)
Window windows (69%)
Home office conversion (55%)
Other potential projects that can increase home value: Jetted Jacuzzi; permanent hot tub; security system; sprinkler system; detached garage or workshop that is finished. Projects that really do not add value: above-ground pool; ceiling fans; garden pond; and light fixtures.
Some tips when attempting value-increasing remodeling:
If you remodel, always think about a future buyer add what may appeal to them. Keep it neutral and not too abstract.
Use quality construction material on all projects.
Remodel with a similar style as the rest of the home. Keep it uniform.
It is a waste of money to do a $30,000 kitchen remodel in a $100,000 house – unless you have long-term plans of staying in the home and enjoying the enhanced ammenties.
Make sure the exterior has good curb appeal. Clean out the rain gutters. Power Wash the exterior. Wash the windows and remove webs and bugs. Trim the bushes and the lawn. Add some landscaping or plant some colorful flowers for a bright and fresh look outside.
According to a study conducted by Money Magazine, landscaping may be the best investment to improve a home's value. The study found that attractive landscaping can have an actual recovery rate up to an estimated 200 percent higher than a kitchen or bathroom renovation.