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How To Increase The Property Value Of Your Home

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property value

If the latest figures are anything to go by, then house prices are falling once again. So it is a great time to increase your property value by carrying out some home improvements!

There are plenty of ways to give your property a facelift, but don’t forget that some projects will be far more costly than others… At the end of the day, most of your options will hinge on the size of your budget… and only you will know how big this is.

Here are a few jobs to consider that will increase your property value; from the expensive right down to the cheap and cheerful…

First Impressions:
Most potential buyers will find a grotty house exterior very off-putting. Your home may as clean as a whistle on the inside, but no-one will even get that far if the garden scares them away first!.

Stand out in the street and have a look at your home. Be honest with yourself; could your property look any tidier? Home cosmetics will play a major role when you are trying to sell your home and spending some time in the front garden really could make all the difference…

Finishing Off:
Don’t allow your half-finished DIY projects to ruin a sale! If half of the flooring is missing from your master bedroom when a potential buyer is looking around, then it won’t make a very good impression. Get any jobs finished, have a tidy-up and clear away any tools.

Brightening Your Bathroom:
Most people will just love a modern bathroom. So if you want to invest in your home, getting a new suite installed is a very good idea. Not all sinks, toilets and baths will cost the earth and most suppliers will have their own economy range to consider.

How to Dish-up a Quick Sale:
You should always try to make your ‘heart of the home’ look as inviting as possible. Modern and bespoke kitchens will have a big impression on prospective buyers and the value of your home! Even if a new fitted kitchen is expensive, it will make a substantial difference to the value of your home.

Spaced Out:
Clutter is really unfashionable these days and most buyers will be looking for plenty of storage space. Can you fit any additional cupboards around your home? If so, then they will normally go down an absolute treat! Try to create handy storage areas for ironing boards, shoes or any other unsightly items, this is a really great tip to improve your property value to any prospective purchaser.

Keep it in Neutral:
You should always stick to neutral colours when you are decorating your home. These are the safest bet as most people will find them ‘visually unobtrusive’. So, if you have a strong love for rooms with purple walls and leaf-green ceilings, keep it under wraps!

Mending Your Ways:
Are there any major faults lurking in your home? If so, they will need to be sorted out pronto!!!

Most potential buyers will be on the lookout for any serious problems and, if they find any, you probably won’t see them for dust…

Just by a few simple home improvements you will not only make your home a more desirable purchase…..you will also increase it’s property value as well!.

Home Improvement: Calculating Costs and Forming a Budget

Remodeling a home can be a great way to add to you property value to a home, but it can also become a money pit that eats through a family or individual’s time and savings. The key to a successful home remodel is to know what improvements will add value to a home, and knowing which ones to avoid. Of course, it is also important to know how much these improvements will cost.

One of the best home improvements is improving the landscaping or “curb appeal” of the house. On average, money invested in this area will increase a home’s value by 107% of the amount spent on the improvement (according to the Board of Realtors). Because of this, improving the landscaping is one of the best improvements that anyone can make to a home. Consider planting trees, adding a water feature, and/or planting flowers to improve the attractiveness of a home to a potential buyer.

Replacing a roof will usually return between 90 and 100 percent of the amount spent when it comes time to sell. In fact, this is true of a variety of major repairs, such as foundation repairs or replacing broken or cracked windows. Having a major maintenance issue with a home will immediately lower its value and increase the amount of time it takes to sell. Very few sellers will want to buy a home that comes with a large upfront repair bill, making it practically a necessity to make major fixes before selling.

Unfortunately, many people do not have the cash on hand to make these major repairs before selling. In these cases, a refinance home mortgage may be an ideal solution. Through one of these loans, a family or individual is able to retire their entire mortgage and take out a new loan for the total value of their home. By using the new loan to pay off the old mortgage, a person or family can use the remaining funds to pay for home improvements.

Of course, when taking out a loan to make home improvements, it is extremely important to make sure that you are getting a good return on your investment. Beyond the two item previously mentioned, take a look at the kitchen and bathrooms.

Adding a bathroom to a home will typically return between eighty and one hundred percent of the construction costs and is a great way to add to your property value. In general, a home that has one or two bathrooms and/or those that have a smaller number of bathrooms than is typical for their neighborhood will see the largest return on investment. Of course, a homeowner should make sure that the bathroom is placed so that it makes architectural sense in the house.

Small bathroom and kitchen improvements will typically return between sixty and ninety percent of their total value. These improvements include replacing flooring, painting, replacing cabinets and/or upgrading appliances. These improvements usually do not involve changing the floor plan of a room.

Pin pointing exactly which improvements will return the most is difficult because every home and market is different. In general, however, most realtors recommend improvements that update a room. Replace dark wood cabinets, outdated flooring, and freshen up paint. Try to steer clear of unusual colors or materials.

The worst home improvements, based only on investment return on property value, are usually enclosing a garage, adding a bedroom, and major kitchen or bathroom remodeling. Enclosing the garage will usually be subtracted from the value of a home, especially if the improvement is not done by a professional.

Adding a bedroom will usually only add about a quarter of the total construction cost to the property value of a home. While many realtors point out that extra bedrooms will help a home to sell quicker, potential buyers who are looking for this feature rarely have extra money to spend on a home.

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Updated: December 12, 2012 — 1:59 am

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