bring more value - adding central air/heat or adding an extra bedroom. The houses in the neighborhood are mostly non-central air/heat and most are two bedroom houses. Its also a really small kitchen area - should I enlarge the kitchen?
2007-10-06 14:48:02 · 10 answers · asked by livingadream 4 in Business & Finance ➔ Renting & Real Estate
Maybe I should not have said "add value" I guess what would get me the biggest return?
2007-10-06 15:11:29 · update #1
Truth to be told I think at this time you will not get the money back from any changes you make to the house. Keep that in mind and only do that which is necessary to sell the house. Do not make this a big losing proposition for yourself. Good Luck!
2007-10-06 14:53:06 · answer #1 · answered by Wayne W 2 · 4⤊ 0⤋
Central air would bring much more value than a 3rd bedroom. If you can afford it I would enlarge the kitchen and if there is only one bathroom I would add another. Kitchens and bathrooms really sell a house. But find out what the comparable houses in the neighborhood are selling for. You don't want to spend too much on a remodel if you can't get the money back in the sale and no one will pay more than 10 to 20% of what the other houses are selling for in the neighborhood. Maybe just add the central air and give the kitchen and bath a facelift without spending too much money. Good luck.
2007-10-06 21:58:12 · answer #2 · answered by jones 4 · 2⤊ 1⤋
There are comparatively few things that add more value to the property than they cost. The fact that most of the homes in your neighborhood are comparable to your status quo is further evidence against.
Staging, painting, new carpet, clean up the yard. That's what I'd likely do. Cheap stuff to make a good first impression on buyers. Other than those, the best return on your money is investing elsewhere. Real estate markets are reverting to more historical value models. Lots of agents don't realize this yet - around here many are still stuck in "$100,000 of upgrades is $200,000 of sale price" mode, when $100,000 of upgrades now means your property sells while one without those upgrades sits on the market at the same price. Nonetheless, you need to find a good one who understands your market as it is now.
2007-10-06 22:29:22 · answer #3 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Kitchen enlargements would run around $50,000 and prospective buyers might not like your choice of finishes .
Central heat & air are basic . You can't go wrong with that .
Keep in mind , that new developments have all the latest and at this point ,
Are probably going to under price you .
Do some serious homework before investing in any upgrade that is not 100% basic ( like heat / AC ) .
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2007-10-06 22:05:35 · answer #4 · answered by kate 7 · 0⤊ 0⤋
I would add a bathroom.
The market is really soft right now and be sure whatever you put into it you will be able to get back out.
I think Kitchen upgrades and having a bathroom and walk-in closet is really an asset.
I like patios, decks, 2 bathrooms, large closets, built-ins in the kitchen. With that I can live anywhere! Good luck!
Expanding the one bedroom and making it a master with walk-in closet and private bath is really nice.
Just adding a 2nd bathroom will increase the value.
Curb Appeal. How does it look from the outside.
im me for more.
Mystic_Gift
2007-10-06 21:53:44 · answer #5 · answered by Lilly 5 · 0⤊ 0⤋
The bathroom is a HUGE selling point for a house, you could make it really nice if it's not already. large bath tub, nice counters and floors. A good mirror.
Central air is huge in warmer climates especially, but always nice to have unless you live in the North Pole. So it would be a good selling point.
Maximizing the space in the kitchen is good - If your kitchen is not open to the dining room, you could open it up by knocking down the wall, or only half of it, putting a large counter between the kitchen and dining room so people can sit up to it if they like.
Good luck
2007-10-06 22:03:38 · answer #6 · answered by dreamer 3 · 0⤊ 0⤋
Real Estate values are based on the LOCATION of the property. None of those improvements is going to raise the value. Even if it did the appraisal would knock it down and you would be right back to square one. The appraisal is based on what other similar type properties sold in the neighborhood. You're better off just selling it like it is and let the new owners decide how they want to improve their new home.
2007-10-06 21:54:42 · answer #7 · answered by Irish 7 · 2⤊ 0⤋
NOTHING will bring more value to a home, than it cost to create. Adding a third bedroom; if it costs $15,000, you might get 10 more for your home. A new kitchen, you might get 75% of the costs back. The cost and price of real estate is determined by location, location, location. And since you cant change that, clean it up, paint it, maybe new floor covering, but you will sell it for market value that is determined by the location.
2007-10-06 21:54:25 · answer #8 · answered by maplewoodjoe 4 · 4⤊ 0⤋
You don't say how old the house is
You don't say If you will do the work, or pay to have it done.
Best value...; Cheap....MAKE IT SPOTLESSLY CLEAN, inside and out Lawn and garden, imacculate, with color, (flowers), trimmed lawn, do edging.
Wash windows inside and out, new paint, inside and out
Clean any carpets, Get rid of clutter. If you have to renovate, (Which I don't advise if you are selling) The best return is, Renovate the kitchen, Renovate the bathrooms, Make the master bedroom as cozy as possible.
2007-10-06 22:20:56 · answer #9 · answered by bob shark 7 · 2⤊ 0⤋
Stage the property.
2007-10-06 21:56:54 · answer #10 · answered by Anpadh 6 · 2⤊ 0⤋