How do we increase the value of our home?

Question

We bought a home 3 years ago and are trying to make changes to add appraisal value to our home. We have a inground pool, 4 acres, Nice house.

When we moved in there wasn't much landscaping that had been done, so we added 30 6 foot trees. At a point right now where we would like to use our money and time wisely. Need to know the best thing to increase the property value. We have 3 baths 4 bedrooms, all new appliances, unfinished basement.

Please help!

Answer 1

First stop spending- now! Trees are nice but 30? Not a cost effective benefit for so many. And not cheap either.

Pools many times are a liability unless you live in California or Florida. Keep it since you have it. Is there a pool house for the equipment? Do you fill the pool with city water or well water? A well is usable for washing the car, filling the pool and a landscape sprinkler system. You'd need a small well house that can be made of stacked stone veneer for effect. Include a latern light near the door and 2 side windows; it is a pump house and needs to look it. Also need a small heater to prevent freezing or the ability to winterize it easily yourself.

Nice landscaping adds curb appeal, and gets buyers in the door. Red and yellow blooming plants that flower throughout the warm months give color to an all green yard. Tulips, phlox, day lilies, tall grasses strategically placed are good. Monkey grass is good for areas you want to keep low maintenance- use 2 varieties for visual effect. Use pine needles for mulch to keep unwanted grasses out of flowering beds. Never use a pine bark, pine chips or soft woods for mulch; soft wood attrack wood destroying insects. Landscaping lights work too. Presure wash the side walks, gutters, eves, sofits, and siding. A nice area with a gazebo is inviting in the back yard area. No wild animal concrete statues, people, St Peter or Cupid statues are ok. An arbor is a nice touch too.

Master bed rooms: fresh paint- use light to med. tinted earth tones. Master baths need a masculine feel, never feminine. Same for remaining baths. New cabinet hardware, a window over the bath tub to let in natural light is good, tile in bathrooms is good- staggered pattern, wood floors in master bedroom is good. A garden tub is good (whirlpools are not cost effective an seldom used) as is a low rise (short step) shower with handicap bars in the shower and a seat to sit on. Use elongated toilets throughout, again include handicap bars. You open your home to a lot of other people even aging people if you make it friendly up front. And use lever handles door operators.

Basement: Add a playroom and an up-flush half bath. A bar sink would be good but not cost effective. Just be reasonable in what you do, do not make your home the biggest on the block. That drags your value down and the neighbors up. Use floresent lighting where ever possible, even flood lights. This helps keep operating cost down.

Kitchen: you have already updated the appliances. Cabinet hardware is a good choice, minimal or no wall paper, inc the dining area. Red encourages eating, that is why restaurants use red, avoid it unless you are running a restaurant. Tile floors are good, use a varied pattern, not a straight line square but off-set, it gives the eye something to see. Under counter lighting is good. Lots of counter top and cabinet space, Lazy Susan is a so-so, if you have it ok, do not add, but a well planned pantry with wire shelves and spaced efficiently will be a hit. Laundry room off kitchen is good. Counter tops of Avonite or Corian is good, granite is over kill and now dated. Light cherry or honey oak cabinets are good, wood darkens as it ages. Did I say NO BLUE?!?! NO BLUE!!

A 3 car garage is good, an out-building for lawn equipment is great- with electric, and this may well substitute for the 3rd garage area if you have it not already. This can also be a rustic looking structure, board and bat type siding and stacked stone at the front around the doors but not over the doors,use more wood. Hardy plank is good too, if the home is brick or stone paint the garge the same color as the trim if Hardy plank is used. Design it deep enough for a boat, min 24 ft deep. Add a motion sensor exterior light as well. I also am fond of a 30 ft. flag pole with Old Glory waving proudly, be sure to have a flood lamp positioned to illuminate it at night. That may look real good bentered in the front yard. If there is room, in the front yard a circle/horse shoe shaped drive adds usable, functionable parking area. Line both driveway sides with monkey grass. Landscaping flood lamps that shine "up" the wall bewteen windows on the front is ok or shine on a feature like maybe the front door is good. Paint the front door black, or fire engine red. No antique brass, shiney brass is ok brushed aluminum better. Green is a last resort, never purple, or some other color. OK to match shutters with front door, they are paintable too.

These are good cost effective things you can do, add appeal and get a good return, but no return will yield 100% the first year. All will enhance the opportunity to get the best price when you go to sell down the road. Always think of your exit when you go in to buy. What ever issues the last owner had, unless you correct them you too will have to over come them.

I've seen and sold a lot of homes. You'd be amazed at what people do- and are proud of it. Just do not make your inprovements too specific to YOUR tastes. You can go to the Parade of Homes in your area or open house and see the things I've mentioned to get a feel of what to do before you invest. Once you have seen these and made your plan THEN SPEND money, because now you have an clear objective and will more wisely buy.

Best wishes to you in your effort.

Answer 2

Well, finishing the basement can add a lot of value, but it might not be the best return for your money.

It sounds like you made one of the biggest improvements you can - landscaping. Landscaping is part of "curb appeal," which is very important. You might want to ask yourself if there is anything else that can give your home curb appeal. Would a picket fence make the property look nicer? Is there anything you can do to the driveway to make it look more appealing?

If your house isn't painted with access walls in most rooms, that can often increase the value, and will almost always increase the sell-ability (which is as good as raising the value).

All of these can help. However, it is very difficult to force equity into nice homes. All of these tricks work much better with low to middle income homes. There is something else you might consider for your home...

If you have only had the home for 3 years you have almost zero equity in the home (assuming you got a typical mortgage). You might think about taking the money that you were planning on making improvements with and just making a big principle payment on your home. If you hope to sell your home in the next several years, you will probably come out further ahead. If you plan in staying in the home, you will definitely come out ahead.

Hope something in all of that helped. :)

Answer 3

First what space are you decreasing by "take out a wall"? Second let's face it if you do not sell for the maximum period you discuss things will have changed by then and people will be frowning on tile and wood floors in a kitchen. Unless you can afford the very hardest and hardiest flooring in the kitchen breakfast area where stools etc. will be used at the bar then do something more substantial or the floors will look crappy in a year. Third do not price yourself out of YOUR market with granite and stainless steel. Fourth fix it the way you want it while you live there and stop concentrating so much on the "standard" and "customary". It's a HOME first and an investment second. FIFTH has nothing to do with redoing the house but to ask if you have a contract drawn up by an Atty discussing what will happen with the house should you and boyfriend break up. Don't have a contract? GET ONE before spending all this money then trying to decided what happens when tomorrow one of you wants out. Don't be naive of course it can happen to you. Go see the atty, now if you haven't already.

Answer 4

Hello, I decorate for a living so I hope I can help. The first thing a woman looks for in a home is a nice kitchen with nice cabinets, and the decor. Men usually go for the design and all of that.
So, I would suggest doing some painting in earthtones throughout but yet different colors, update kitchen a bit if not updated, and replace any vinyl flooring with laminate floor. Some new carpet, even though it only counts as an extra 10% on the appraisal, the home will go quicker.
It is wise to just hire a Decorator to do this as she can probably knock all the small stuff on paper down in one 5 hour evening and then make some calls to the painter and flooring store for quotes. It may cost you a good $5000.00 to $8,000.00 dollars but for sure to get an extra $15,000.00 back off it.

Answer 5

Well, to increase the value and beauty of home, Home renovation is the best option. It helps to update your existing home into some stylish and unique interiors. And on the otherhand it transforms your dream home into reality. Through home renovation you also fulfill your incomplete work like basement portion.To connect with experts visit at Makin Residential and hire the leading professionals for getting the picture perfect masterpiece at an affordable price.

Answer 6

You might want to finish the basement or the attic if there is one. I presume if you get much warm weather and the fact that you have a pool, you have a/c. Those are pluses. The first thing to turn someone on or off tho is curb appaeal and after that the kitchen updates and space. Next is the number of bathrooms but it sounds like you have plenty. With those done you want to keep in mind that whatever you do in a kitchen or bath usually you only get 80% of those investments back out at the sale but a sale can hinge on them so be clean, uncluttered, and have a fresh look if you are reasonably up to date. No loud colors, not everyone likes them and the lighter, the bigger your place will look provided you don't have clutter or congestion. If you do, box or store it out of sight. Make sure when the prospects come that all pets and their toys etc are out of sight because you can have pets with no odors but many people will see pets and think they smell them too. It is also wise to have draperies or window coverings open. You want as much light as possible. It gives a sense of life to your home and cheer but it also shows you are not hiding anything. Another thing is that you will usually know in advance when people are coming through to view your home, have any papers for new furnaces or major renovations like a newer roof available incase they would like to verify it, but don't follow realators around and talk alot about the house-it looks too eager and if you are using a relator he or she will ask you anything they need to know. It is also good to dab a few light bulbs with real vanilla and turn them on for about 30 minutes prior to a walk through because the smell is not overwhelming or offensive and it gives a cuddly warm feeling to whoever comes by to consider your home. 3 years ago tho, the longer you can keep the home the more equity you build and the better profit you make-but you decide, maybe you have to relocate for family or professional reasons. Good luck, wish I could come see it it sounds nice. Oh yes, and if you get a good real estate atty you can usually have them draw up the sale papers and get everything in order for signing at a very low fee, knocking out the realator's commission if you advertise for sale by owner but make sure your attorney is experienced with a good rep. if you go that route. I bet you will be moving soon! Best wishes!

Answer 7

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Answer 8

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Answer 9

Well you increased it already by buying it. Houses go up in value year after year. My first house cost me 32,500.00 and I sold it ninve years later for 69,000.00. I bought another by assuming the owner's low mortgage for 80,000.00 and sold it 9 years later for 189,000....I didn't put a fortune in any of them, just kept them up and clean and neat, inside and out. They were in good neighborhoods so that is the ticket.

Answer 10

Update rooms and add on. REMOVE THE POOL. Many people consider this a liability as it is a safety hazard to future owners with very small children. You will want to finish off the basement. And it's fine with the new appliances but by the time you move, they may no longer be new!