What kind of things put value on a home?

Question

I just bought my first home 5 months ago and now in the clean up renovating stage, what can I do to add value to my home???

Answer 1

The number of bedrooms is an important factor (with more being more marketable, should you decide to sell), but along with knowing your area too. You should have a look at what kind of properties there are in the area. Is it mainly houses for families, student houses or houses as flats for young professionals? All these questions will help to determine what you market is. Knowing it will help in the future, should you decide to sell and move on. Here, en-suite facilities (perhaps to the master bedroom) are sure to add value too in any property.

The all-important first impressions are helped by having a clear view through of say, the garden to the back, in the hallway from when you first enter. It is about creating a focal point. On this note, the house being fitted out to a good spec will appeal to more to your market - but should be done according to your market, making it all the more important to know it.

Open plan to the living room, dining room-kitchen will help open up the space. And what's more, you allow a degree of flexibility for future inhabitants - should they see fit to change it.

A study will go a long way of boosting your profits - what with the current trend being able to work from home.

Maximising the space is important too, so even if a room is small, you can do subtle things as adding a big mirror to open up the space more - creating the impression that the space is more open and more generous. Having a terrace perhaps to the roof will create a quiet-like space, which will be to most people's taste. Also allow daylight to fill the space to help open it up.

Parking for any property is a huge selling point to, and so is parking off the roadside. This if can be avoided helps.

Period features if any are to be kept, like old fireplaces and old sash windows, if you have them. Restoring them will not only be cheaper but are in keeping with the character of the street and in turn count towards the big pluses of your property.

On an end note, only do what you have to and avoid going over the top. Often the understated look can be the best - it's the less is more approach. I hope this has helped, and good luck with your home.

Answer 2

Increasing your homes value can be accomplished many different ways. First consider your budget and be practical about how much you're willing to spend on improvements. Secondly you need to understand that not all improvements are going to make you moeny when you sell. A new roof for instance, will not yield you a high price, unless your old roof was in poor shape. Another thing is paint. If your house is painted inside and out, and the paint is in good condition, thats a plus, however the color really doesn't matter. There is no favorite color to increase your houses value. There is the "saleability factor" to consider. A house just looks good and you will get more interest in, a house with fresh paint and a good looking roof, but you won't make much more, if anymore, moeny on investing in upgrades if the roof and paint are in good shape.

Now consider items such as that 1977 dishwasher. Or the green toilet and tub and sink in the bathroom. Dated appliances and fixtures can detract from your selling price. The same is true with the moldings and wall coverings and the doors. Changing all these things can add an extreme amount of value to your home. And you don't have to spend crazy money either. A nice $300 dishwasher will increase the value of your home just as well as a $500 dishwasher. Not many people care about its features as much as they care that it is new!

Anyway, I hope this helps, just remember to be practical and maybe do things a little at a time. After all, Rome wasn't built in a day. Good Luck!

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Answer 3

Definitely update the kitchen and the bathrooms. If you've got vinyl flooring in the kitchen, rip it up and put down tile floors. That will jack up your equity considerably. Same for the bathrooms. People these days are looking for nicer things, and vinyl just isn't it. If you've got cheap appliances in your kitchen, consider upgrading them too. Cabinets and countertops are also a big value-booster. You don't have to go with the most expensive granite countertops you can find, but if you've got older laminate countertops, consider going with a solid surface like Corian, or LG Hi-Macs, or granite if you've got the money to fork over for it. At Home Depot, granite countertops start at around $55 per square foot, which includes the price of installation. You may not need to replace the cabinets if they're in good shape, but maybe think of putting on new doors and drawer-fronts, or staining it a different color. If you have a lot of carpet in your house, consider replacing it with hard wood flooring. That's another way to add value to your house. If you've got vinyl flooring in the bathrooms, replace that with tile as well. If you've got enough space, and the plumbing is set up for it, consider a separate tub and shower, or just replace what you have if it's outdated. A nice big tub, if you have room. Wall colors in the common rooms of the house should be tasteful. You may think that Fuscia and Chartreuse are a good color combination for a living room, but most people are looking for more subdued colors. If you've got room in the back or side yards, consider adding a deck if you don't already have one, or making the one you already have even better. If the house is more than 10 years old, get your roof inspected. If it's starting to wear, think about using architectural shingles instead of the cheaper construction grade. Keep the outside of your house in good repair. Curb appeal is what gets potential buyers into your house. If they don't like what they see on the outside, they're less likely to come in to see the inside. Since you just bought it 5 months ago, you're probably not ready to sell it just yet, but these are all good practices to have at any time. Keep the yard clean and looking good. Think about what landscaping you can add or what you already have that you can add on to.

And don't forget! Whenever you do any major home improvements, make sure you have it re-appraised and notify your home-owners insurance provider that you've made the improvements. It's really bad if you're under insured and they don't know about it. If something were to happen to your house, you wouldn't get all that value back. They really need to know about those things, so that you get a fair amount back when you have to file an insurance claim.

Answer 4

They always say kitchen and bathroom investiments give the best return, and they are probably right. Just remember to keep your improvements in line with the type of house you have and the neighborhood you are in; especially if your goal is to turn a profit when you sell. Example, adding a huge lux. 3rd bathroom may not get you a great return if your house is a 2-bedroom bungalow. Or putting really expensive upgrades in a house in a low-to-moderate neighborhood won't necessarly get you a great return because people looking for that type of accessory will be looking in higher-priced neighborhoods.
Of course, if you plan to live in this house for many years, you should do what makes you happy, and not worry about the pay-off as much.

Answer 5

The two areas within a home that will get you the most return on your invest are the kitchen and bathroom(s).
The other area to invest in is the overall outside appearance or curb appeal.
If you give a good first impression when a potential buyer walks up to the property, the likely hood of an offer is increased.

Answer 6

Nice new kitchen appliances, a pretty, modern bath, nice flooring, pretty light fixtures in the main areas, energy efficient heating and cooling systems.

Answer 7

Fireplaces, garages, permanent external storage boxes, attractive and secure front door, ornamental windows, and anything bio-eco friendly...like solar heating paneling...

Answer 8

bathrooms! make them xtra nice. definately landscaping....make sure it has good curb appeal. nice updated kitchen is always good too. good luck!

Answer 9

landscaping,siding