How to Increase Your Home's Value
There are many ways to increase your home's value. Most important is to focus on the current negatives. Is the kitchen outdated? Are the major systems of the house on their last legs? Have you updated your bathrooms during the last 25 years? If not, it may be time.
Kitchens sell homes! If you add a killer kitchen to almost any home, it will be sell-able. If you are going to splurge on a renovation and want it to add value to the home, look no further than the kitchen. Open kitchens are the preferred style for today's buyer. It might be worth busting down a wall open up the space and create an entertaining area for family and guests to enjoy. White is always the safest backdrop for kitchens but splashed of grey & blue really make a great impression on buyers.
Curb appeal - this is an often overlooked aspect of adding value to your home. First impressions are everything! And you only get one time to make a first impression. Having a great front yard and entry to your home can really add a lot of value to a home in a buyer's eye.
There are countless ways to add value, make a priority list and strongly consider the benefits, prioritize and estimate cost or budget for each project. Call me and let's discuss how we can add value to your home, even if you are not planning on selling your home anytime soon.
The amounts below depend a lot on cost of renovation. If you can get a good price for quality work the recoup percentages can increase quickly and the goal when I recommend renovations if to get more than 100% back for money spent. When it if your home to live in and enjoy, getting 88% back on a kitchen renovation is a great return on investment that you got to enjoy for a time which is invaluable.
Project (average cost recouped, national) according to Realtor Magazine:
Minor kitchen remodel (88%)
Bathroom remodel (85%)
Major kitchen remodel (81%)
Family room addition (80%)
Deck addition (77%)
Master suite (75%)
Attic bedroom (74%)
Siding replacement (73%)
Window replacement (69%)
Home office (55%)