Want to know how to not only increase your homes value, but make it more appealing to potential home buyers? In an ever-changing world of trends and fads, here are some tried and true ways that will make any buyer out there fall in love with your home and help spruce it up to put you head and shoulders above the competition.
How to Increase Your Home's Value:
Project (average cost recouped, nationally) 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%)
Projects that may increase your home’s value include: Jacuzzi (4 jets or more); permanent hot tub; in-ground pool; security system; sprinkler system; substantial out buildings; and vaulted ceilings. These may not add value to your house: above-ground pool; ceiling fans; garden pond; and light fixtures.
- Remodel with mass appeal in mind. Don't be too "taste specific". Think with resale in mind and make sure that what you do will make most people fall in love with your new renovation or remodel.
- Use durable, quality materials. Don't try to cut corners to save money. Potential buyers can spot things that stick out to them as discontinued materials or what was the latest trend a couple of years ago. Go with the things that have stood the test of time and will make the new owner of your home thank you for choosing the quality materials that you did.
- Keep the value of your property within 15 to 20 percent of your neighbors’. You never want to be the nicest home in the neighborhood. The theory behind that is this: the "not as nice" homes around you will actually bring your home's value down. It would be better to be the most modest home in a neighborhood of better homes because now the "nicer" homes are bringing your value up...and you can always add any of the above projects to your home to bring yours up to speed with the rest of the neighborhood.