How to Increase Your Home's Value
Thinking of upgrading your kitchen or bathroom? Are you kids begging for a pool?
If you don't plan to live in your house for at least 10 years more, you really need to consider what value these projects will add to your home. Use this list as a guide when deciding which upgrades to take on.
Project (average cost recouped, national) according to Realtor Magazine:
Minor kitchen remodel (88%)
Bathroom remodel (85%)
Major kitchen remodel (81%)
Family room addition (80%)
Deck addition (77%)
Master suite (75%)
Attic bedroom (74%)
Siding replacement (73%)
Window replacement (69%)
Home office (55%)
Projects that may increase your home’s value include: Jacuzzi (4 jets or more); permanent hot tub; in-ground pool; security system; sprinkler system; substantial out buildings; and vaulted ceilings. These may not add value to your house: above-ground pool; ceiling fans; garden pond; and light fixtures.
- Remodel with mass appeal in mind.
- Use durable, quality materials.
- Keep the value of your property within 15 to 20 percent of your neighbors’.