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Home Improvements that will Increase the Value of your House when you are ready to Sell

March 14th, 2006

Home Improvements that will Increase the Value of your House when you are ready to Sell

House with curb appeal

Home improvement can add a lot of extra cash value to your home when you go to sell it.  You need to know how much value will be added and if it is worth actually going through with the home improvement project.

There are times when people overspend on a kitchen remodeling project and actually will lose money on the investment when the go to sell it.  What you need to do is to make sure you know what your house value is currently worth and what surrounding homes in your market are worth.  If your home is at top dollar value for the neighborhood, you would not likely want to spend of money on home improvement.  You would work on just cleaning up your house to be as neat as possible.

 

If you find there is a wide enough range in house values in your area, it could help to boost the resale value of your home dramatically.  If you bought a fixer upper you probably got it at a considerable discount.  When you fix it up it is usually called “sweat equity” because you earn the extra cash value of the house when you fix it up yourself.  It can be quite profitable for a person to fix up a house and resell it.

Remember in the home improvements that you do that you don’t go out of budget.  Set a budget for you home improvement project that will be feasible as well as profitable.  It doesn’t make sense to do a kitchen remodel because it is way out of price for your housing market.  Think clean and tidy for the home improvements that are out of your budget range.  You can usually come up with home improvements for all types of budgets.

 

What type of home improvements get the best cash value for you home when you go to resell it?  Improving your outside landscaping or “curb appeal” is a big selling point and will help in the cash value of your home.  First impressions often sell a house.  Kitchen remodeling can get more cash value.  Make sure you are careful how much you spend on a kitchen remodeling project as you could overspend.

Replacing windows or doors don’t do much good (unless of course they are in need of repair).   Installing an additional garage may not be worth it unless your home has no garage to begin with.  Installing a swimming pool costs plenty to have one installed and the payback may not be seen.  There are people that don’t want swimming pool responsibilities and it could be a turn off to potential buyers.

 

Plan to fix and repair any damaged items in your home that would cause a person to take notice.  Put a clean coat of paint on the walls and have clean floors.  If you have clutter you need to remove it and store it somewhere else.

If your home is out of date with styles from the 70’s it will not get as much money as if it was updated with more current decorating trends.  Change the carpeting to a neutral color and have walls also in a neutral color scheme.  If you have a home that is desirable for most people you will get more offers and you will get more cash for you home.  It can also be more difficult to get an agent wanting to sell your home if it looks outdated.  You want all the real estate agents to keep showing your house all the time.  The real estate agents want the sale and will often show the houses that have the most promise for sale.

Fixing up your home on the outside offers more value for improving your homes value.  Make it look like your home has been well cared for. If your house is in desperate need for a paint job, it would be a good idea to get this done.  Don’t paint your house if it looks fine.  Instead just clean your yard and outside of the house up.

After you have accomplished cleaning up your yard you can start with the inside of the house.  Only fix up the items that can be seen.  Don’t do electrical plug upgrades as the buyers of the house will not likely appreciate the addition.  Don’t replace plumbing fixtures that look ok, unless you are looking like a 70’s flashback.  Think about less expensive ways to fix up the cabinets.  Possibly you can paint the cabinets and save the money.

If you can get your home looking appealing you will likely get more cash value out of it.  Knowing what housing are selling for where you live will help you not to over invest in home improvements. It will help you to know how much you will be able to spend in order to achieve top dollar in your housing market.

 
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By Nicole Wilson
Best Syndication Staff Writer

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Copyright 2005 Best Syndication                                            Last Updated Saturday, July 10, 2010 09:47 PM