Many homeowners think about remodeling their home to keep it updated so that it retains its value. A home is probably the most valuable asset a person owns, and many people try to safeguard their investment by keeping the property well-maintained.
The added bonus of performing well-planned, budgeting remodeling projects on your home is that it can definitely increase the value as well as maintain it. Many homeowners do home remodeling projects right before they put their homes up for sale. Investing money in your kitchen, bathrooms, roof and house exterior will help your home maintain or exceed its value.
Home improvements in the kitchen area make a great first impression for a potential buyer. Studies show that kitchen remodeling is one of the most profitable ways to help increase your homes value. Some of the ways people remodel their kitchen is by replacing the floors and reconstructing their cabinets and counter tops. If your kitchen appliances are old-fashioned, they need replacing as well. Buying new counter tops or kitchen cabinets is relatively cheap. Replacing the floors can be inexpensive as well, depending on the type of flooring you choose. Also keep in mind the neighborhood that you are in. Do not do high end finishes in a middle to low income neighborhood and vise versa.
Another remodel to think about is opening up spaces. Now a days, buyers are looking for the feel of a larger, open floorplan creating more of a spacious, airy feel. Look into knocking down walls between the kitchen and living areas. Make sure none are load bearing and you could be well on your way to a ‘great space’ and home.
There is a lot you can do to increase the value of your home that does not cost a lot of money. Spend some time working in the yard on your landscaping. Trim your bushes and trees, and remove all the weeds from the yard. A neatly manicured lawn is very appealing to buyers. If your home has not been painted in years, paint the inside walls and trim inside the home. If the outside needs a painting, do that as well. The curb appeal of your home alone can add up to 15 percent to the value of your home.
by DAN CAMPANELLA, Broker/Owner @ R.E.INVEST Brokerage, LLC. on June 27th, 2013.