Home improvements that really add value
March 26th, 2015
| Home Renovation
When it comes to home improvements, not all upgrades pay off when you sell your property. Trying to decide how to spend your home improvement dollars? Here is some great guidance from the U.S. Appraisal Institute:
Don’t neglect ‘green’ renovations. A number of ‘green’ projects, such as replacing windows, installing Energy Star appliances and adding extra insulation, are likely to pay off in two ways — in your monthly utility bills and when you sell your home. You’ll want to consider both when deciding whether they are worth your while.
Go neutral. It’s been proven time and time again: Basic upgrades, from painting the walls neutral colors to installing classic new fixtures, offer the largest returns. You may love the idea of wallpaper with farm animals in your kitchen or a kid’s room painted in purple, but a potential buyer may consider these things to be a major turnoff.
Stick with neighborhood norms. As a general rule, you’ll want to undertake renovation projects that are on par with your neighborhood. If most homes in your neighborhood have one or two bathrooms and basic kitchens, you may not have a great return on an investment in a third bathroom or a gourmet kitchen with high-end appliances and fixtures. Exercise caution with projects that take a home significantly beyond the neighborhood standard.