Increase the Value of Your Home
Your home – it’s your sanctuary, a place to rest your head at the end of a long day. It is also an investment. When considering a remodel, you not only want to think about the value it will bring to you personally but also what the return on investment will be so that if you decide to sell in the future, your investment reaps what you have sown.
Keep in mind that not all improvements will result in a high return on your investment; however, if you plan to stay in the house for a period of time, take in to consideration the joy and comfort you will receive from an upgrade. Not everything has to be about dollars and cents.
According to the article, “How to Increase Your Home Value” on Essortment.com, the following is a list of home improvements and the approximate percentage of return on investment upon selling your home:
|
Kitchen Remodeling |
95% |
|
Roof Replacement |
88% |
|
Landscaping |
85% |
|
Family Room Addition |
85% |
|
Bathroom Remodeling |
75% |
|
Siding Replacement |
70% |
|
Deck Addition |
70% |
|
Window Replacement |
68% |
|
Swimming Pool |
50% |
|
Fireplace |
45% |
|
Skylight |
35% |
|
Heating/Cooling Upgrade |
30% |
There are a few other items you should consider as well. Dana Dratch at Bankrate.com suggests the following:
- A well-appointed master suite with a luxurious bathroom, lounging area and walk-in closets.
- When choosing materials, think natural - ceramic tile, hardwood floors, granite.
- Make sure there is plenty of light and has an airy spacious feel. A dark, dreary house is not a selling point.
- Storage, storage and more storage. Can you create storage space in your attic?
- Lastly, if you have a basement, make sure it is dry and leak proof. Water issues will be a negative on the report card.
- When choosing materials, think natural - ceramic tile, hardwood floors, granite.
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