How to Increase Your Home's Value
If you own a home, you know how important it is to keep the interior and exterior updated. Whether you enjoy having a home that is ascetically pleasing to the eye or if you plan to sell one day, it is important to stay on top of home renovations. Just like when purchasing a car or other large ticket items, you should always do your research to make sure you are making a smart investment. Listed below are projects and project costs (average cost recouped, national) according to Realtor Magazine:
Minor kitchen remodel (88%)
(i.e. countertops, sink, refinish cabinets, cabinet hardware, etc...)
Bathroom remodel (85%)
Major kitchen remodel (81%)
(i.e. cabinets, overall floor plan, appliances, etc...)
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.
The following may not add value to your house: above-ground pool; ceiling fans; garden pond; and light fixtures.
No matter what room is remodeled, how much it will cost, or how long the project will take, there are a few things to always keep in mind: consider mass appeal, keep the value of your property within 15-20 percent of your neighbors', and always use quality, durable materials.