How to Increase Your Home's Value

Selling

 

According to the Realtor Magazine the following are the average cost recouped per project done in a house:

1.    Minor Kitchen remodel (88%):  These jobs could be from resurfacing kitchen cabinets, changing their hardware, a fresh coat of paint or even replacing some old appliances for energy-efficient ones.

2.    Bathroom remodel (85%):  Remodeling a bathroom can be as simple as replacing fixtures, adding storage space, painting and replacing the lights.  Or  it can be a full bathroom remodeling, which will be more than double in price.

3.    Major kitchen remodel (81%):  A major kitchen remodeling if done correctly can help sell the house much faster.   The invested amount might not be recuperated but at least it will help sell the house.  The price of a full remodeling can be very high especially if all appliances and floor has to be replaced.

4.     Family room addition (80%): Adding square footage to your home most of the time will add value to the house.  This type of addition has to be studied with detail not to over build your home compare with the rest in the neighborhood.  Some additions can be easily done and not very expensive,  for example converting a covered patio or a garage. Adding a complete new addition to a home can be very expensive and care should be taken when making these types of additions.

5.    Deck addition (77%):  Usually a simple addition to do and it can bring a great appeal to new buyers specially in areas where the outdoor decks are often used.

6.    Master suite (75%):  This type of addition like family room addition has to be carefully studied. It depends if is a completely new addition to the house or if it is a conversion of an existing area into a Master suite. 

7.    Attic bedroom (74%):  Adding livable square foot to the home most of the time adds value to the home.

8.    Siding replacement (73%): A simple addition with a good return on investment.

9.    Window replacement (69%):  This type of improvement not only increases the value of the home it also helps with energy conservation

10.  Home office (55%)

Projects that may not add value to your house:  Above-ground pool, ceiling fans, garden pond and light fixtures

Keep the value of the property within 15 to 20 percent of your neighbors.