INCREASING THE VALUE OF YOUR HOME

I'm often asked some version of the following question-

How can I increase the value of my house?  or I'm considering remodeling the kitchen, is it worth it?

Here's my answer-

If you plan to stay in your house for the long term, the best updates to your house are the ones that increase your enjoyment of it

If you like to entertain in your home, then upgrading the kitchen and dining room might make that easier

If your family spends alot of time outdoors, then a deck or patio can bring your family together

If you like classic cars, then building a garage will make your hobby more fun

That said, from a purely economic standpoint, there are some improvements that do more for your home value than others. Other factors will always be at play- market conditions, your neighborhood, the age and current features of your home all contribute to the overall value.

Here are 5 home improvements that from working with our clients that often contribute to increasing a home's value and give a high level of payback for the investment-

1- Minor kitchen remodel can improve your house if the cabinets and appliances are dated. A full kitchen remodel can be quite expensive and rarely will give you a full payback. Often your best bet is refacing or painting cabinets and match it with new countertops.

2- Adding manufactured stone veneer in place of siding can improve the look of your house and make it stand out, increasing the resale value. This upgrade still sells well in the market.

3- Front and garage doors- think about your doors as the introduction to your home. A dated doorway or a garage door in poor condition will set the expectation that the house may be not be well-cared for.  This is a lower-cost upgrade that will improve the curb appeal and the overall look of the home from the outside.

4- Deck or patio- updated outdoor spaces like a deck or attractive patio space offers homeowners the chance to expand their living space into the outdoors.

5- Lighting and hardware- upgrades to lighting and hardware in your house can elevate the impression that visitors and potential buyers have.  It can also create continuity throughout a house, whereas mismatched fixtures and lighting can distract from the overall feeling of a room. These upgrades can be done on a budget if you plan ahead and shop around.

Bonus- if you are close to putting your home on the market, removing clutter from your house will go a long way towards making it easier for buyers to envision living in your house, possibly shortening the time on market.

These are general tips. If you are considering selling your home now or in the future, reach out to me and I can provide you with a comparable value analysis. Call our office at (540)667-1130