How to Increase Your Home’s Value
Which Home Improvements Pay Off
Some upgrades add more value than others. This should give you an idea of Which Home Improvements Pay Off. For instance if you do a minor kitchen remodel you may recoup about 88% of the cost but if you need to do a major kitchen remodel it will be more like 81%. There are some repairs that just need to be done without regard to how much you will get back. If the roof is leaking fix it, if the faucet leaks fix it, if the paint is old and cracked paint it. These little things will catch a buyer’s eye and lead them to believe if these visible things are in bad shape then what about the things you can’t see.
Refinishing the hardwood floors is a good investment and you can usually recoup all of the expense . According to Realtor Magazine here are some common upgrades and the percentage you can expect to recoup:
Window replacement – 69 Percent – Replace those old windows with dual pane, wood framed windows
Add a Master suite – 75 Percent – Buyers love a beautiful master bath with a big frameless shower and a deep tub.
Add a deck – 77 percent – Buyers like to visualize themselves enjoying their new home. A nice deck looking out over the yard can make them feel at home especially if you stage it properly.
Add a family room – 80 percent – This room seems to be an expectation now. A house can seem lacking without a family room.
Major Kitchen remodel – 81 percent- It seems that the kitchen is every buyer’s favorite room and the love it to be shiny. It is expensive but worth it.
Remodel the Bathroom – 85 percent – Remodeled bathrooms just look cleaner.
Now don’t go all crazy either. When you sell your house there is usually a loan and with a loan comes that pesky appraiser. The comps are the comps and the bank doesn’t care that the door knobs are gold and you worked really hard to make it look beautiful. The bank cares what other properties in the neighborhood sold for. Keep this in mind before you start taking down walls. Talk to a Realtor® she can point you in the right direction and perhaps save you from yourself.
Before you decide what upgrades you should make check out the comps. Get An Easy And Fast CMA