Ways to Increase Your Home's Value
As you begin to search for ways to increase the value of your home and begin projects, remember not to increase the value of your property too much above others in the neighborhood. Keep the value of your property within 15-20 percent of your neighbors.You do not want the most expensive home in your subdivision. People who want expensive homes shop exclusively in more epensive neighborhoods.
Remodel Project and average cost recouped:
Kitchen remodel (86%)
Bathroom remodel (85%)
Deck addition (77%)
Master suite (75%)
Siding replacement (73%)
Window replacement (69%)
Home office (55%)
Projects that tend to increase your home’s value include: Jacuzzi (4 jets or more); permanent hot tub; in-ground pool with nice deck area; security system; sprinkler system; substantial out buildings such as a two-car garage or finished workshop; and vaulted or trey ceilings. Projects that may not add value to your house are: above-ground pool; ceiling fans; garden pond; and light fixtures.
Some tips to remember when remodeling:
l Remodel with mass appeal in mind. Potential buyers are usually attracted more to neutral design.
l When it coes to construction, do not go cheap. Use durable, quality materials. I
l Allow the remodel to flow with the style of home. Additions that look “tacked on” may take away from a home’s appeal.
l Turning a bedroom into a bathroom is a mistake; it reduces the number of bedrooms which is a major selling point.
l Unless you plan to continue living in a home, do not plan on doing a $30,000 kitchen remodel in a $100,00 home It will be a waste of money.
Make sure the outside of your home has great curb appeal. Clean out the gutters. Wash the windows and remove cobwebs and bugs. Trim the hedges, cut and edge the lawn, sweep the sidewalks and driveway. Plant some colorful flowers out front.
You may want to add to or improve your landscaping which is one of the best investments to improve a home's value.