i bought my home 2 years ago for $43,000 and i have just replaced the central h/a, added more insulation, and changed the back door from sliding glass doors to french doors with the blinds on the inside. the house was built in the late 70's i think
2007-08-27 03:16:26 · 15 answers · asked by hey_hunny28 2 in Home & Garden ➔ Maintenance & Repairs
it is a 3br 1.5 bath brick home
2007-08-27 04:12:00 · update #1
There are a lot of things considered when placing a value on homes. For example: the value of homes selling in your area, the community surrounding your home, the number of bedrooms and baths, the size of the kitchen. The heating and air were certainly wise investments, and will make a prospective buyer see money in their pockets while the door was esthetically pleasing and will make a prospective buyer look twice.
2007-08-27 03:25:11 · answer #1 · answered by Anonymous · 0⤊ 1⤋
You added no value to the home the heating system is required in a home and if you live in a very hot area then everyone else will have air to and would be required. My neighbor just put a $30K roof on her house and it did not add any value than a $10,000 roof. A roof is a roof and all houses need a roof to keep the water out. More Insulation will not add value to a house. Changing the slider to a french door will not add value it may make it easier to sell. New windows, updated kitchen and baths add value. What this does is change the effective age of the house. So lets say your house is 30 years old now you install a new heating system and a new roof, effective age now 25 yrs. Now replace the old windows and doors, now effective age 20 years. now update the kitchen, baths and new carpet and paint, now the effective age is 5 yrs. The problem is there is no place on an appraisal report to add value to single items or for an appraiser to itemize each item. Condition and effective age is the only place to add or deduct from a comparable house. Like your new heating all houses have to have one and do. Remember you don't get dollar for dollar on replacing items on an appraisal.
2007-08-27 19:23:26 · answer #2 · answered by Leo F 4 · 0⤊ 0⤋
Central heating and air should ad at least the value of what you spent, but because so many homes have it today, considered standard, 30% would probably be a good guess. Sliding to French is personal preference, but if you went from single pane glass to double pane then again same as above. The best way to know, without asking someone who may not want to give you free answers, is to look up local realtor websites to compare what else is on the market in your area. For instance, I live in Charlottesville, VA and the local assoc. of realtors has a web site www.mycaar.com and I can click on find a house, and put in price ranges of what I want to spend and then look at those houses in those price ranges to see what they do include. For instance, 3 bedrooms, 1 bath, central a/c , these are normally listed. Or you can look in the yellow pages and call to ask Home Inspectors, Realtors, or Appraisers. Appraisers will probably have the best answer. Good Luck.
2007-08-27 10:23:44 · answer #3 · answered by candleslightup 2 · 2⤊ 1⤋
Replacing the Heating/AC is a good idea for saving you on energy bills but will not upgrade the value a whole lot. The doors, while pleasing to the eye, are not a big addition to value. The main ROI's (return on investment) are kitchen remodels/upgrades and bathroom remodels. These are in the 90 % range. I currently have a house I bought as a repo and am doing all the remodels myself. I started with the kitchen and baths.
2007-08-27 10:36:18 · answer #4 · answered by sensible_man 7 · 0⤊ 0⤋
Graphic of house value in market from 2006 is going down and if you going to sell your house ,with history of 70's price will not have deferential and buyers will checked the age of your home .If you want make your home valuable ,Spend money in structural of your home such foundation ,roof , electrical of your home .
2007-08-27 11:35:07 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It ,may not significantly increase value but will make your property more marketable.Your property will stand out from the competitive properties when a buyers is looking at similar properties. Keep making cosmetic improvements, You will get your money back when you will sell.
Ebay Singh,
Realtor
2007-08-27 10:48:37 · answer #6 · answered by ebay_singh 2 · 0⤊ 0⤋
Where did you get a house for $43K only 2 years ago? Where is this house? In the boondocks?
2007-08-27 12:52:21 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It's impossible to know how much value was added to your home because each area is different when it comes to house value. I'd ask someone local.
2007-08-27 10:24:36 · answer #8 · answered by Serena 7 · 0⤊ 1⤋
Guessing 12 grand
2007-08-27 10:19:31 · answer #9 · answered by mlk682 3 · 0⤊ 2⤋
heat and air is considered standard, the other improvements are very minor...probably almost nothing
2007-08-27 10:26:36 · answer #10 · answered by astralpen 6 · 1⤊ 0⤋