Home improvement projects are a fantastic method to increase your home’s worth even in a depressed market. Before you call the contractor, you should assess your properties worth compared to neighborhood homes. This is easy to do when you use the Multiple Listing Service. The MLS is a resource that realtors and homeowners use to showcase and sell homes. You can look at comparable homes within your vicinity and decide what improvements would bring your home up to the standard or even outshine it.
If your home lacks space, think about constructing a patio or deck to increase square footage. Use of quality materials are necessary if hope to see a return on your investment. A project that is haphazardly constructed using substandard materials will provide little incentive for buyers when it comes time for you to sell. Your home could even be seen as a fixer-upper if you have poorly executed renovations. When contemplating projects, keep them in proportion to the house, additions should not overwhelm the character of your home, nor should renovations clash with original style of the property.
Conversions can be great if you are lacking useable space. Transforming a basement into a game room or a garage into an apartment can provide your family with much needed square footage. But be aware that some buyers may not place the same value on the improvement as you do. It may even be viewed as a negative if they are searching for a home with a functional garage or do not need the added space.
Several home improvement projects see a huge return and can add to the functionality and comfort of your home. Remodeled kitchens and baths traditionally see the highest return, up to 87%. The initial cost of these projects are much higher than other home improvements. Make sure to install high-end, quality cabinets, flooring, lighting and appliances to see the biggest return. But, keep the expense of the materials in proportion to the neighborhood. You can still make valuable home improvements on a restricted budget. Replacing or refinishing cabinet doors and handles can alter the appearance dramatically. Install a tile or wood floor rather than linoleum. Replace formica countertops with tile or granite if possible.
Ultimately, when undertaking home renovations or remodels the most critical thing is to use quality materials that will withstand time. Stick to the classics when deciding upon style and color, your home will appeal to a wider variety of buyer if you intend to sell. After completion, you will hopefully have improved the value and condition of your home.
Tags: depressed market, home improvement projects, home improvements, house additions, kitchens and baths, multiple listing service, original style, quality cabinets, quality materials, useable space
#1 by Mandeville House Additions on January 31, 2012 - 8:50 pm
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