How to Increase the Value of Your Home

Before you go, we thought you'd like these...
If you're like most Americans, your home is probably your single largest investment. While the price of your home is largely determined by market conditions, there are steps you can take to maximize the value of your home.
Here are some tips to consider that will add value to your home by giving it a facelift.
Strategic Remodeling
This article doesn't assume that you'll remodel your house all at

If you're like most Americans, your home is probably your single largest investment. While the price of your home is largely determined by market conditions, there are steps you can take to maximize the value of your home.

Here are some tips to consider that will add value to your home by giving it a facelift.

Strategic Remodeling

This article doesn't assume that you'll remodel your house all at once; few people have the money for that. The best advice is to put your remodeling dollars where they'll have the biggest impact first.

Kitchens tend to provide the greatest return on investment, but each home is unique and if you find that you have a glaring problem, that's probably the place to start.

Exterior

Landscape:

Landscaping doesn't have to be a major project. If you don't have a green thumb, a few strategically located plants and a neat-looking yard will suffice. On the other hand, if you enjoy gardening, this is a great place to showcase your talents by adding some more exotic elements to your garden, like a fish pond for example.

Add a new roof:

A lot of guys think of a new roof as a necessary component to a strong home. It is. But it's also a good place to make a strong impression. It's one of the first things people see from the street, so having a roof that looks both sturdy and attractive won't steer you wrong. Of course, it's important to match your roof to the style of your home, but even if you go with shingles, you don't have to pick ugly ones.

Add a deck:

A deck is a great use of exterior space because it increases your total entertainment area. Put a hammock out there and get an outdoor table set. Potential buyers will picture themselves relaxing or throwing a party, and this is always good for a sale.

Dress up your porch & entrance:

Adding plants, a freshly painted door, and a new door handle can make a great initial impression. Follow up on that initial impression by having an entry space that complements the decisions you made outside. Add a piece of art or a small table, but don't let your entry hall become your dumping ground for keys and mail.

Bedrooms

Add a bedroom:

Three- and four-bedroom homes are most desirable. If your home has the space, but not the ideal number of bedrooms, you may consider adding a bedroom, which will certainly increase the value of your home. On the other hand, if adding a bedroom means losing too much space, forget it.

Install a master bathroom:

When a bedroom has a bathroom, it's called a suite, and a suite always means extra value. The place to start is in the master bedroom. Make sure that you can install a decent-sized full bathroom without making the master bedroom too small or smaller than the other bedrooms.

Bathroom

Install a new shower:

A new shower says a modern home. If you have a pre-built shower, it's a matter of swapping out one shower for the next. If the shower is built in, you can change the walls (say from a curtain to frosted glass) and add a new showerhead.

Change your fixtures:

Fixtures wear down with use and break anyway, so you have to change them from time to time. When you do, take the opportunity to upgrade with some style. Get a faucet that adds a decorative element to the bathroom.

Re-tile the walls:

Tile wears down, gets moldy, and chips. You'll never be happy matching a new tile with the old, so when you have a chance, take the time to change it. The good news is that most bathrooms don't have a ton of tile and you can do it in phases (change the sink and counter one year, and re-tile the shower the next).

Kitchen

Install new cabinets:

Kitchen cabinets take a lot of abuse, so they're likely to show their age before their time. Fortunately, you don't have to replace the whole cabinet. A paint job and maybe some new handles will give your cabinets a new lease on life.

Improve functionality:

The more state-of-the-art the kitchen is, the more buyers tend to think of it as being fully remodeled. If you've got the space, an island is the way to go. But if you're crunched for space, new appliances really do make a difference in the kitchen.

Miscellaneous tips

Expose the floors:

You can remove old carpets and show off the original floor if it's still in mint condition. If it's not, then you need to re-stain the hardwood floors. If you don't have hardwood floors, consider new carpeting.

Install new doors:

Doors set off a room and they're a great place to make a difference. If you set your sights on doors you can take the opportunity to set a style throughout your home by buying the same or similar doors and handles.

Paint the interior:

A new paint job makes a world of difference. Good colors to use are white, off-white, and a light yellow. You should repaint every four to six years.

Add new light fixtures:

It's possible to have recessed lighting without a huge expense or headache, so long as your existing light is where you want your new light. Simply replace the fixture hanging from the finished ceiling with your potted light. If the lights aren't where you want them, the process is possible, but more cumbersome, as you'll have to create holes and run wires.

Replace the windows:

New windows not only give your home a new look, they can also save you money. The right windows will help keep the house warmer in winter and cooler in summer, so you'll see the savings on your energy bill also.

Add a fireplace:

Even if you don't plan on using it much, it adds great value to a home. It gives it cachet, and a luxury factor.

Take advantage of unused or underused space:

If you can convert a basement or attic into a useful room, do so. An extra den or a guest bedroom is an excellent use of a basement or attic, and both will add great value to your home.

Improve to Increase

Home improvements are a great way to add value, but you shouldn't get carried away. As with any investment, you need to think about return. So when it comes to your home, don't make improvements in the dark; just because you like it, doesn't mean the next guy will pay extra for it. Think like a buyer.

Also, it's important to keep pace with your neighbors. Don't let your home become the most expensive or largest one on the block, but don't fall behind either. This is one of those times when it's best to be in the middle of the pack.

More Power & Money Articles at Askmen.com

Read Full Story

Find a Home

Buy
Rent
Value
Powered by Zillow

People are Reading