We would like to make improvements to our home to raise the value of it.We just don't want to spend money and have it not help the value of the home. Any information would help.
2007-05-30 13:03:25 · 5 answers · asked by Lisboyd 1 in Business & Finance ➔ Renting & Real Estate
Landscaping. Investing 10% of the value of your home will increase the value 20%.
2007-05-30 13:06:49 · answer #1 · answered by runner1 6 · 0⤊ 0⤋
Excellent question! My wife and I (were real estate agents) watch these cable tv shows where they show someone putting in new cabinets and counter tops and then they say that because they invested $5000 for example they increased the value of the house $10,000 lol.
I mean, they actually say that on the tv program! Everybody with common sense knows that the dollar of improvements diminishes not increases.
However there are things people can do to increase value if it adds the following.
1. Square footage (ie: adding a room or making a family room larger)
2. Adding a bathroom for example if you only have 1 or even 2 bathrooms.
3. I have noticed a dramatic increase in value also if a home has only 1 bedroom and its increased to 2 or even 3.
Although "these things" are not as exciting and sizzling fun like Granite counter tops and stainless steel appliances, it is something that appraisers, agents and buyers pay attention too.
A good way you can get the "gist" of what I am saying is go to the site below and click PROPERTY RESEARCH. Then you'll see your house value there. It's all free but what's neat about it is you'll see that homes with less bedrooms with yours (it will show it there) get less money at selling time.
Homes with higher square footage get more value all in all.
2007-05-30 13:27:06 · answer #2 · answered by Workfortoday 3 · 0⤊ 0⤋
Depends on how old the house is. If it's older, renovations or modernizing kitchens or bathrooms is good. It may be time for maintenance, like a new roof or paint. You might also consider an addition; a new room, bathroom or something like that.
2007-05-30 13:16:22 · answer #3 · answered by zngcat369 2 · 0⤊ 0⤋
These are good answers but it's very subjective and different in different areas. Why not check with a couple realtors in your area? They love to give advice. You'll probably get a variety of answers but they are bound to be closer to fact than on the internet.
2007-05-30 13:29:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Simple indoor cosmetic fixes.
Landscaping
Is your basement finished? If not, you could finish it.
A deck.
Update kitchens and bathrooms.
2007-05-30 13:09:58 · answer #5 · answered by Stev 3 · 0⤊ 0⤋