2007-02-24 07:45:17 · 9 answers · asked by omar g 1 in Business & Finance ➔ Renting & Real Estate
On the outside of the house, curb appeal is everything. Make sure the lawn is weed-free, the grass is green, the bushes trimmed, etc.
On the inside, it's all about the kitchens and bathrooms. Every potential owner of a home wants it to be turn-key (move in ready) and no one wants the expense or hassle of a bathroom or kitchen renovation. A kitchen can make or break the sale of a home. If the kitchen is in lousy shape, you have to reduce the price. If the kitchen looks great, chances are you can get more money for the property than other comparable properties that aren't up to date.
2007-02-24 07:51:12 · answer #1 · answered by SuzeY 5 · 0⤊ 0⤋
As an appraiser here is some advice. First all the upgrades that the previous posters mentioned will increase property value however, the trick is to find which ones actually give a return on value. It really depends on your area if it is high end, average or low end. Typically for your average house the best way to increase value is a fresh coat of paint. Two other upgrades that have a positive return are bathroom upgrades as well as finishing a basement area. A bathroom upgrade is relatively cheap and with the right contractor your basement can be finished with a few thousand dollars. Kitchen upgrades are helpful but do not go overboard because you will not have a positive return on your investment. Landscaping is also good if you have a nice green lawn. I would also suggest powerwashing siding and if your budget allows carpet cleaning or finishing hardwood floors. I feel these are the most inexpensive upgrades that will aid in the illusion of the house that will put your house in the higher bracket of sales in your area. The biggest factor is square footage, location, school district, lot sizes and condition. The only you can change is the condition factor. If similar houses are selling between 400k-500k in your area then you want to find out what they have in it. If they contain upgraded kitchens and bathrooms, nice siding, then you should try and get your house to look like that. If you have a 200k mortgage and you look to spend 50k for all the upgrades then it is well worth it. However if you owe 425k and it costs you 75k or more to upgrade it is not worth it but you maybe be able to do some sensible upgrades and get a decent return on your money.
2007-02-24 09:02:29 · answer #2 · answered by tianaramal 4 · 0⤊ 0⤋
It's true in general that kitchens and bathrooms offer a better return on your rehab investment than other factors. But to be clear, it depends a great deal on your individual home. There are many factors inside and out that can affect the value of your home. The only way to know for sure is to ask a real estate agent. They see other homes in the area and know what improvements are currently selling and which are not. Understand that any agent you ask will hope to get the opportunity to list your home, and for that reason They will give you an honest and knowledgeable assessment. That's why you can generally trust their advice. Whether or not you hire an agent, the advise you get will be the best determinate of where you should spend your money.
2007-02-28 06:42:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Kitchen and bathroom upgrades normally give the best rate of return. A room addition that increases the square footage of the home, especially if the home is small compared to others in the area, will often pay for itself. Adding a second bathroom to a home that only has one is often a good investment as well unless extensive excavation for drain lines and plumbing are needed.
If carpeting is old, worn, or out of style (think orange shag from the 70s) it will pay to replace it with something neutral and new. A coat of fresh paint will almost always pay for itself as well.
Things that don't pay off well are swimming pools and wallpaper.
2007-02-24 07:53:43 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Kitchen renovations and decks are severe on the checklist of those advancements with the excellent return for the greenback spent. additionally increasing area for storing, if yours is below ideal. bathtub renovations additionally rank spectacular up there. do no longer spend large deals of money on issues mutually with granite counter tops, unique floorings, etc. maximum shoppers seem at those issues as perks, yet are not prepared to pay for them.
2016-11-25 21:11:06 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Kitchen and Bathroom
2007-02-24 07:50:15 · answer #6 · answered by Icey 5 · 0⤊ 0⤋
Updated kitchen and bathrooms. Additional bathrooms if there is only 1 now.
2007-02-24 09:11:15 · answer #7 · answered by KathyS 7 · 0⤊ 0⤋
Kitchens and Bathrooms and landscaping
2007-02-24 07:52:57 · answer #8 · answered by Orlando Mortgage pro 1 · 0⤊ 0⤋
building any rooms in the house and increasing the sq footish. mainly. Go to all-starappraisals.com.
2007-02-24 08:26:51 · answer #9 · answered by 4walls 2 · 0⤊ 0⤋