house value?

Question

Situation: I bought a house that has an infinite amount of potential to be added. One of the biggest changes besides the kitchen that i am doing is changing out a dropped ceiling on an entire floor of a house.(See other question) The house is on the market for 205K.

Question: How much value do you think would be added by changing out the ceiling? Alot, a little, 10% etc.....

Answer 1

It depends upon some factors I don't have based upon the info. given. Are you removing the entire drop ceiling and installing all new fixtures etc. Or are you simply replacing the old ceiling panels?
Scenario one will be costly unless you are completely doing it yourself and then it will just be a pain in the butt..
So this one may not be worth it.

The other is cheap and really cleans up your look and you should do it. Or take down the panels and paint them and replace any broken ones.

A whole floor of a house is a lot of ceiling space. If this is a typical application I'd just do the minimum.

It will add a considerable value if the current panels have water stains, missing segments, the grate is tilted or bent. As that will be a huge detraction from the homes appeal. but if it's in good shape. I wouldn't bother, with removing all of it.

Answer 2

How much is a similar house worth that has a drywall ceiling and a new kitchen? Usually any improvement to a house pays for itself in appreciation down the road but the important thing is the start point. If $205K is the average for the neighbourhood and they all have been improved; you are paying too much for a less than average house. You always want to buy the cheapest house in the neighbourhood as the more expensive ones will actually pull your value up with theirs provided you keep up with yours in the improvements and maintenance areas.

Answer 3

If you are keeping the house, then take out the drop ceiling. Nobody likes them these days. During the Carter years a lot of people put them in to save money on heating/AC. Some put them up to hide a lot of defects. You will probably have a lot of work getting back to a good look, but it could ad to your value. As has been suggested, check the prices of similar houses in your area. If you do it yourself of cource, price wouldn't be too bad. I would do it, myself.

Answer 4

Depending on where your market is and the neighbors are looking and selling for and the deal u got on purchase. Is it an investment or to be resold?
Appearance wize it probally increase in value to change it out, that is tear it down and sheetrock it. It shouldnt cost more than 5K to do that.
Home buyers look at the outside first, landscaping, color, maintanance, then the interior layout, to see if it meets it needs.
Good luck

Answer 5

It think it all depends on what homes are going for in your neighborhood. If homes aren't selling for 10% more than 205K, then even if you install the ceiling adjustments it won't make a difference. You should look at comparisons of what homes are going for in your area and then make a decision.

Answer 6

Nobody can answer that question.

The dropped ceiling could be hiding defects that would cause the value to drop.

Answer 7

Go to www.zillow.com
Punch in your address, you'll see the approximate value of your home.
Make any adjustments (upgrades, etc.)
Punch in improvements you want to make (they won't be true since you haven't done them yet ,but it will give you an idea of appreciation if it was done now.

Answer 8

try searching at different houses that are on the marketplace on the fringe of the only you want to carry close the fee of. seem for the same length and enmities of your position. See what others are promoting them for. Or call an appraiser. suitable suggestion i visit provide.

Answer 9

go to zillow.com and see what your house is valued at first compared to what you paid that will give you an idea how much you can spend without going over it's actual value

Answer 10

Probably none except apperance.