December
28
Home Improvement That Makes Sense: Projects That Maximize Home Value
No Comments | Undedr: Loan Companies
J. Sheperd asked:
For any homeowner, the value of their house is something to be concerned about – particularly when trying to refinance or sell your home. While completing home improvement projects may or may not help you when it comes to refinancing, they definitely play a role when selling your home.
Home Improvement Projects: Where To Start
The first thing you need to think about when deciding what projects to tackle, is your finances. Generally speaking, you want the cost of the project to not exceed the value you’ll have added to the home.
This means that if adding a new deck will cost you $7,000 but will only add $3,000 to the value of your home, then it’s not worth it. Having said that, projects like putting on a new roof, or rebuilding your deck are usually the ones to simply let the new owner take care of. There are others you should look at.
Construction Projects To Focus On
Expanding or re-designing closet space is a big one. Anyone with a family, or a lot of collectables, will understand how important it is to have adequate storage space, and yet many homeowners give little thought to this simple home-value booster. By installing updated shelves, or expanding closets slightly (even a foot makes a huge difference), you’ll do a lot to attract new-home buyers.
Other good projects to tackle before selling your home: updating paint/trim; replacing old or out-of style knobs and sink handles; replacing old, water-wasting toilets; installing new linolium and so on.
No Time For Home Improvement?
Of course, if you simply must take on the larger home-improvement projects but don’t have the time, then consider auctioning off the projects to licensed professionals.
The popularity of auctioning sites like Ebay have spawned a whole new culture in construction; one where homeowners can list their projects online and auction them off to the lowest bidder. This not only provides you with the experts you need to get the job done, you can also potentially save money by having more than one contractor compete for the job.
When selling your home, be sure to count the cost, and only pick those necessary home improvement projects that will add value to your home, without drying up your bank account.
For any homeowner, the value of their house is something to be concerned about – particularly when trying to refinance or sell your home. While completing home improvement projects may or may not help you when it comes to refinancing, they definitely play a role when selling your home.
Home Improvement Projects: Where To Start
The first thing you need to think about when deciding what projects to tackle, is your finances. Generally speaking, you want the cost of the project to not exceed the value you’ll have added to the home.
This means that if adding a new deck will cost you $7,000 but will only add $3,000 to the value of your home, then it’s not worth it. Having said that, projects like putting on a new roof, or rebuilding your deck are usually the ones to simply let the new owner take care of. There are others you should look at.
Construction Projects To Focus On
Expanding or re-designing closet space is a big one. Anyone with a family, or a lot of collectables, will understand how important it is to have adequate storage space, and yet many homeowners give little thought to this simple home-value booster. By installing updated shelves, or expanding closets slightly (even a foot makes a huge difference), you’ll do a lot to attract new-home buyers.
Other good projects to tackle before selling your home: updating paint/trim; replacing old or out-of style knobs and sink handles; replacing old, water-wasting toilets; installing new linolium and so on.
No Time For Home Improvement?
Of course, if you simply must take on the larger home-improvement projects but don’t have the time, then consider auctioning off the projects to licensed professionals.
The popularity of auctioning sites like Ebay have spawned a whole new culture in construction; one where homeowners can list their projects online and auction them off to the lowest bidder. This not only provides you with the experts you need to get the job done, you can also potentially save money by having more than one contractor compete for the job.
When selling your home, be sure to count the cost, and only pick those necessary home improvement projects that will add value to your home, without drying up your bank account.