House Selling – Things To Increase Home Value
If increasing the value of your home is a main consideration when remodeling, there are a few things to consider. First, consider whether or not the scale of he project you are considering will generate enough profit-potential for your area.
Most kitchens remodels these days cost between $15,000 and $50,000. While putting in high-end appliances, granite counter tops and custom tiled floors can often be redeemed when selling in higher-priced neighborhoods, in some areas the costs of such a project will never be redeemed.
It doesn’t matter how gorgeous your house is, or how much you paid to have it remodeled – if your neighborhood is full of $135,000 homes, a $75,000 kitchen isn’t going to yield a $350,000 selling price!
So, what projects are the best to consider when trying to increase the value of your home? Here are a few basic projects that almost any neighborhood can sustain:
New double paned windows are always a good investment since they help lower energy costs for the new owner and virtually maintenance free for decades!
A new paint job in both the interior and exterior of your home can make it much more appealing to potential buyers and give them a sense that the home has been well cared for and easy to maintain which can help boost its selling price.
It is all in the layout these days. People want big airy spaces to live in, and that sometimes means opening a wall between a living area and the kitchen or tearing out a closet to expand an otherwise cramped space. Although more expensive than some remodeling jobs, reconfiguring your layout may mean the difference between selling for one price and another $10,000, #20,000 or more higher.
Kitchens and Bathrooms
It is said that kitchens and bathrooms sell a house these days. They need to feature modern amenities and luxury like never before. While most kitchen and bathroom remodeling projects cost over $15,000 these days, they can usually be recouped in the selling price as long as you stay within your area’s ability to pay the higher price.
As you can see, there are a lot of inexpensive (and not inexpensive) ways to increase the value of your property. But which ones are best? According to a recent cost vs. value report released by the home selling industry these were projects yielded the most profit in 2006:
-Master Suite Additions: 73%
-Attic Bedrooms: 88%
-Kitchen Upgrades: 84%
-New Roofing: 80%
-Siding Replacement: 87%
-Window Replacement: 84%
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