Home improvements are exciting, right? Whether these improvements are necessary or voluntary, it is important to consider the benefits for future resale.
So the question is: what home improvements give the seller the most BANG for their buck?
In the hottest housing markets, a kitchen or bath remodel is a sure-fire investment, often returning more than 100 percent of the cost. Kitchens and bathrooms are the areas in a home a prospective buyer can tell money has been spent. These spaces are the most expensive in terms of construction and historically where people spend the most time in their homes.
According to Moneycrashers.com, a homeowner can expect to recoup on average 90-120 percent of their investment with a kitchen remodel. It is important, however, that the kitchen remain cohesive to the rest of the home and not be "too fancy" for the neighborhood. Think traditional: all-wood cabinets, commercial-look appliances, natural wood or stone floors and stone countertops.
The second most profitable home improvement is a bathroom addition. Adding one more bathroom to a home can add twice the value of a new bedroom. One important consideration: don't spend money remodeling the bathroom if it's the only one you have.
Your money is better spent adding a second bath, according to hgtv.com.
Finally, adding square footage is number three on the list. A room addition can be an expensive project and costs can get out of control rather quickly. As long as you stay within budget, you can typically recoup almost three quarters of your investment.
Of course, your return on your investment depends on various factors including the value of your house, the value of houses in your immediate neighborhood and how soon you sell after making improvements, and the quality of the project itself (again, per hgtv.com).
It is important to keep in mind if you are not planning to sell in the near future, spend your money remodeling in a way that you will most enjoy. Even if you get less than what you invested, you may become richer over time because of the memories you have madeusing the wonderful space!
Roller can be reached at [email protected]
So the question is: what home improvements give the seller the most BANG for their buck?
In the hottest housing markets, a kitchen or bath remodel is a sure-fire investment, often returning more than 100 percent of the cost. Kitchens and bathrooms are the areas in a home a prospective buyer can tell money has been spent. These spaces are the most expensive in terms of construction and historically where people spend the most time in their homes.
According to Moneycrashers.com, a homeowner can expect to recoup on average 90-120 percent of their investment with a kitchen remodel. It is important, however, that the kitchen remain cohesive to the rest of the home and not be "too fancy" for the neighborhood. Think traditional: all-wood cabinets, commercial-look appliances, natural wood or stone floors and stone countertops.
The second most profitable home improvement is a bathroom addition. Adding one more bathroom to a home can add twice the value of a new bedroom. One important consideration: don't spend money remodeling the bathroom if it's the only one you have.
Your money is better spent adding a second bath, according to hgtv.com.
Finally, adding square footage is number three on the list. A room addition can be an expensive project and costs can get out of control rather quickly. As long as you stay within budget, you can typically recoup almost three quarters of your investment.
Of course, your return on your investment depends on various factors including the value of your house, the value of houses in your immediate neighborhood and how soon you sell after making improvements, and the quality of the project itself (again, per hgtv.com).
It is important to keep in mind if you are not planning to sell in the near future, spend your money remodeling in a way that you will most enjoy. Even if you get less than what you invested, you may become richer over time because of the memories you have madeusing the wonderful space!
Roller can be reached at [email protected]