With these concerns in mind, I offer a few tips for those struggling to add value to their home.
First, always protect the character of your home. Nothing sticks out more than a new addition that is in a completely different architectural style.
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Be
consistent. Recognize your home’s character and stay
within its framework. The most financially rewarding areas to remodel are usually the kitchen and bath. Newly re-done cooking spaces and cabinet scan attract more buyers and may command a slightly higher price for the home than a comparable one on the market. Simple repairs that are made to last will bring you the biggest returns upon sale. |
Enlarged bathrooms are the most popular attraction for new homebuyers, according to the National Kitchen and Bath Association. Today, the most popular additions for younger buyers are sunken whirlpool baths and showers. But be sure to install modest, solid amenities. It’s easy to quickly over-spend on bathroom fixtures.
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Buyers are, by convention, more interested in above-ground living space – not basements, yards and walkways. Swimming pools can be a poor investment if installed for the sole purpose of increasing a home’s value; it’s rare that a pool’s cost will be recovered in a home sale. It can also be a negative feature for potential buyers with very young children.
Replacing worn carpeting, tiles and wood floors can
give your home an immediate advantage over similar
properties in the area. Updating paint colors in all
areas of your home can also prove beneficial.
However, it’s recommended that you use neutral
colors, such as gray, beige and off-white when
adding new floor and wall coverings. Fewer buyers
will then turn away because of differing tastes.
Stay simple with your remodeling and look at your
home as though you were the buyer. Chances are that
if you find the upstairs bedroom could be brightened
by a larger window, potential buyers will probably
feel the same.
Don’t go overboard. Concentrate on improving two or three deficiencies in your home. More than likely, the time and money you spend adding quality to your home will be rewarded with greater profit at selling time.
About the Author - W. Troy Swezey
is the author of “REMODELING YOUR HOME: HOW MUCH IS
TOO MUCH?" As a Realtor at Century 21 Paul &
Associates, he has helped many individuals with
their real estate needs.
