How to Remodel Your Home for Better Resale Value

by 23 Jul 2012

(TheNicheReport) -- Watch one of those HGTV shows about selling your house for even just a few minutes and you'll hear all kinds of talk about how redecorating and remodeling can improve the resale value of your home and help you to make the sale faster. But be careful before you jump into a big job expecting to get that money back - having certain kinds of work done will cost you a lot more than you'll ever get in return, and a few can even hurt your chances at a sale because they'll only appeal to a small number of people.

So how do you know what kinds of things you should do to get the most bang for your buck? Read on!

It's in the details. One of the best ways to add perceived value to your home is to invest in smaller, less expense items that buyers can't help but notice. Upgrading the hardware on your doors and drawers with some nice looking knobs and handles can make prospective buyers think more money has been spent on the room than is actually true. The same thing goes for faucets in the kitchen and bathrooms.

Curb their expectations. Most experts agree that people make a snap judgment about the value of the property as soon as they see it from the street. Because of this, it's important to have good "curb appeal" by maintaining the yard and the exterior of the house. Some fairly inexpensive things you can do include repainting, replacing vinyl siding, the garage door, or the front door, and adding a few nice-looking plants to frame the doorway.

Improve the view. Replacing the windows is, without fail, always near the top of the list in terms of value for the money spent. Prospective buyers know that recently redone windows mean more efficient heating and cooling - not to mention cleaner, clearer glass.

Bedroom on top. Adding an extra bedroom seems like a great idea, but that isn't always the case. If you have to create an addition or divide rooms to make them smaller, you can end up costing yourself a lot of money and finding that prospective buyers aren't all that excited. However, research has shown that an overwhelming number of people like the idea of an attic bedroom. It's a great way to utilize space that's already there; and what's even better for you is the fact that converting an attic into a bedroom tends to be one of the least expensive ways to get an extra bedroom.

Cooking up value. For most families, one room gets used more than all the rest - the kitchen! Because of this, when people look at houses, the kitchen is almost always one of the areas they pay the most attention to. No surprise, then, that research shows a minor kitchen remodel is one of the best investments you can make, getting you a great return on your investment. Pay attention to eye-grabbing features like backsplashes, granite countertops, and as much cabinet space as you can comfortably fit.

Keep in mind that some of these ideas are more expensive than others, and it's very likely that none of them will make you back the full value that you spend on the remodel - the point is to make your house more attractive to buyers overall.

Author: Jillian Watkinson



Is TILA-RESPA a good or bad thing long term?