Home Improvement – Getting the Best Return on Selling Your Home
Property values over time are affected by the overall economy and local market conditions. The care and upkeep of a property is also very important in getting top dollar for your home. Here are some tips that might increase the value.
Out of all the rooms in the house, the kitchen is the most popular to remodel and produces the highest return on investment. “Hot” kitchen makeover trends include adding dual sinks, cooking stations, extra-long dishwashers, under-cabinet lighting, warming ovens and wine coolers.
Upgrading a bathroom is also a sound choice and will usually provide a significant return on investment. Large bathrooms are typically on the top of the list of priorities for those seeking to purchase a home. Adding skylights, glass block windows, ceiling fans and sunken whirlpool baths are also attractive selling features. Stick with neutral, mid-builder level cabinetry, refreshed flooring, shower/tub, and/or a new sink and toilet.
Room to Grow
Adding a room or two, such as a spare bedroom or a study, is a significant home improvement. In addition to the much-needed extra space, it can also potentially provide you with a good return on your investment.
Landscaping the Lot
A professionally landscaped yard will often increase the “curb appeal” of a home. Beautifying your lawn can be one of the most inexpensive home improvements. Simple landscaping projects include trimming and edging the grass, manicuring the trees and shrubs to open up the view of the house, removing dead plants and planting flowers.
While many homeowners may want to update and remodel their kitchen, if the roof needs fixing or the chimney has to be reappointed, then they should prioritize these necessary repairs over any cosmetic changes. This applies to both sellers and those who plan to stay in the home for years to come, as these essential repairs must be taken care to avoid a larger expense down the road.
A paint job and new carpeting will increase the price of a house virtually dollar-for-dollar. Neutral colored paint and eliminating clutter can make a world of difference. Don’t go overboard with home improvement projects that might push a house too much above the current average value of homes in your neighborhood.
Home Improvement Professionals For Hire
Whether you need an architect, gardener, interior designer or contractor, it is always important to do a background check prior to hiring a professional. Get references from family or friends and interview them – checking is critical. The most important quality to look for is trust, not initial price.
Ramsey-Shilling recommends a number of options for homeowners looking to upgrade their homes, including a cash-out refinance, a home equity line of credit or a second mortgage. Homeowners can contact our agents to help find a lender for current interest rates and mortgage prices, repayment options, and for professional mortgage advice.