Increasing the value of your home
Many people want to do things in their home to increase the value of their property. If you are staying in your home for any length of time, most improvements will be of value both from your use and enjoyment as well as increasing the property value. If you are short term, many of the improvements will not add the same value as the outlay of funds needed for the improvement.
Increasing the value of your home
-Bathrooms – Adding a bathroom, changing a ½ bath to a full bath or remodeling a bathroom are all valuable changes.
-Kitchens – Remodeling or updating your kitchen always pays off in the value of your home.
Improvements that increase the value but cost more than they pay
-Swimming pools – Swimming pools usually add ½ of their value or less to a home.
-Converting garages to rooms – This addition will rarely add a value equal to its cost and is a deterrent for some buyers.
Increasing value through increased marketability
These are the things you may do to a home that an appraiser does not increase value for. The value increase here is from the consumer. If needed and not done, these items may cause offers to come in low. Check with your real estate agent to determine if these things should be done before listing.
- Carpet – Worn, stained, damaged or dated carpet may need to be replaced. This also is necessary in the case of pet odors.
- Paint – Inside or out, homes that need to be painted can cause the house to be less marketable or cause low offers.
- Wood rot – Whether around windows, doors, on fascia board or anywhere else, these repairs almost always have to be done for a home inspector, some appraisers, or the termite and moisture report.
Be sure to consult a real estate professional to guide you in the things you should do to increase the value of your home. You can reach out to us here, Contact.
