Home
Improvements that will Increase the Value of your House when you are
ready to Sell
March 14th, 2006
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House with curb
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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.
By
Nicole Wilson
Best Syndication Staff Writer
Home Improvement Books at
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