Increase Your Home’s Value Through Improvements & Renovations

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In the days of an uncertain stock market and job insecurity, there’s no place like home sweet home. You need to be at the top of your expertise when it comes to increasing the value of your home by renovation and improvements.

While renovating your house so that it pays you more when you unload the property for whatever reason, you need to have the buyer’s point of view instead of sellers’ because it’s the buyer whom you want to attract to reload your house after you’ve unloaded it.

Some home improvement decisions are not entirely considered improvements to the home by potential buyers although you might feel those improvements and renovation decision may increase the size of your pocket.

For instance you might want to add a swimming pool to your house just because you love to be inside the pool under the sun in a pink bikini. But the buyer won’t have the same thought process. He might perhaps not even want a swimming pool. So when it comes to renovate the house so that it pays you more in future, you need to consider those renovations and improvements which would be worth the most in the long run.

  1. Kitchen- Renovating your kitchen is always money well spent in. Entertaining has become more casual and many people don’t even bother with formal dining and living rooms anymore. With that, there has become and increased focus on the kitchen not just being functional but also attractive and decorated.
  2. Bathrooms - Along with kitchens, this area of the home gives the largest return on your investment.
    A mid-range bathroom remodel, one in which everything is replaced with comparable items and all plumbing lines remain where they are located, gives the largest return on your investment. Believe it or not, an appraiser takes the plumbing into heavy consideration when assigning the value to a home.
  3. Landscape - Whether it’s a nice paver walkway or simply adding some colour to your planters, keeping the landscape of your house fresh is not only inexpensive, but also adds nice curb appeal.  In the case of home improvement, a book is always judged by its cover. When prospective buyers pull up to the front of your home they will assume that the care and attention given to the outside of the home reflects the level of care and attention given to the inside of the home.
  4. Outdoor Living Area –The rise in casual entertaining has made having an outdoor kitchen/living area a must-have for many areas of the country. Creating this outdoor living space does not have to be expensive. If you decide a project of this type, you will get more return on your investment than you put in.
  5. Paint – Paint is always in style. It is inexpensive and provides a large amount of bang for your buck. A simple change of colour to your walls can make a huge difference in how the room feels.

When contemplating any remodelling project, homeowners should consider the value they will receive from the project over any cost recovery that may be available from sale. However, when considering two equally useful changes, homeowners should research local real estate guides to determine which projects are most likely to pay for themselves. Remember that bigger is not always better, and spending more does not always ensure a greater amount of value creation. Home prices will always reflect the tastes of local property buyers and the amounts that buyers are willing to pay in a particular neighbourhood or subdivision.

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