Best Home Improvements

Best Home Improvements

If you’re looking to improve the appearance of your home for resale, or you just want an updated look for your own enjoyment, there are a few things you should consider before beginning. Make an improvement that will increase your home’s market value, such as installing an energy efficient A/C or repairing those shabby shingles. Be forewarned, however, and don’t expect to recoup your costs on both counts. Just because you put in $25,000 into improvements does not mean your home is worth $25,000 more! Listed below are a few improvements that usually pay off and some that rarely make a difference.

Painting – We all like things looking fresh so if you’re planning to sell your home in a year or two a fresh coat of neutral-toned paint could make the sale easier. A professional exterior paint job could recoup close to 75% of its cost.

Kitchen – With just a few basic improvements the kitchen can provide great payback. New paint, flooring & counter tops are always appreciated. You may even consider sanding, staining or painting worn looking cabinets. Replacing old cabinet hardware is low cost but makes a big difference. The average spent on a major kitchen remodel is around $39,000 and refinishing an outdated one is around $15,000. A Kitchen remodel can recoup 80 – 87% of its cost.
 
Area Conversions – For the most part increasing the functional space of a home will help hold its value longer than remodeling just to make a home look better. It’s also less expensive than adding an addition to your home. For example converting an attic space into a bedroom typically cost around $30,000 and returns about 73% of the cost.
 
Extra Bathroom – Typically you can not go wrong by adding an extra bathroom. At an estimated cost of $14,000 a new full bath can recoup 81% of its total cost.
 
New Windows – A good standard energy efficient widow should return around 68% of its total cost. You could also recognize a break in your energy cost.
 
Deck – Adding a deck could be a cost- efficient way to add to your living space. Decks usually cost around $6000 and can recoup 75% of their value. Compared to other outdoor improvements (except painting) that is a great return.
 
Swimming Pool – Don’t do it unless you are putting it in for you and your family to enjoy. It is commonly agreed that a swimming pool has little to no resale value.
 
Picture-perfect gardens – The picture perfect garden (not traditional landscape) is another nice item for you to enjoy however, if the potential buyer is not horticulturally inclined chances are your floral handiwork won’t add to the offer price. The same may be said about expensive fences and stone walls – they look nice, but buyers don’t want to pay for them.
 
Basic is Better – It is the basic improvements you make to your home that may have the greatest return on its value: a beautiful new bathroom won’t make up for a leaky roof. So if you are thinking of selling your home in the next year or so, be sure to address any problems the home may have before you install those sunken gardens you’ve always wanted.

Please feel free to call anytime,

Pam
713-822-8555