Posted by: Roby Robertson | September 30, 2009

Lake Norman Real Estate;Improve Your Home’s Value

Improve the value of your Lake Norman Home

Are you thinking about renovating and improving your home, or do you just like a home that needs a handyman. Then before you start spending your money you should know a few things. So you don’t end up wasting any money.

There are many home improvement shows now; so many people expect good quality that is shown on these shows. That is one of the reasons many tend to expect their next house to be as nice as the ones on the shows. Improving your life style is a good investment; it can increase your home’s value. Some improvements can be, improving your master bedroom, media rooms and create outdoor rooms.

Of course maintenance is the number one improvement, though the value of your home may not increase as a result. Buyers just naturally expect everything to be up to date, and as a result not keeping up with maintenance and appearance of your home can actually decrease the value. So be sure to have your home up to date, so fix those broken toilets.

It’s a good idea to do some of the cosmetics touch ups yourself, if you can of course. Jobs like painting and stripping wallpaper is something you might be able to do. And it can improve the look of your home.

But be careful of improvements if you plan to sell within 2 to 5 years. If your house is improved beyond the entire neighborhood that surrounds you, it’s possible that the value of your home won’t be recognized when you are ready to sell.

Based on that typical experience, Berges formulated the following guidelines:

  • Spend money on what can be seen vs. what can’t be seen.
  • Fix up the exterior first, then the interior.
  • Focus first on what Berges calls the “Yikes!” appeal — clutter, trash and bad smells that drive down a home’s value.

Visibility adds value:

  • Spend money on what can be seen vs. what can’t be seen.
  • Fix up the exterior first, then the interior.
  • Focus first on the “Yikes!” appeal — clutter, trash and bad smells that drive down a home’s value.

According to a recent cost vs. value report released by the home selling industry these were projects yielded the most profit in 2006:
 

  • Bathrooms: 75%
  • Deck: 77%
  • Master Suite Additions: 73%
  • Sunrooms: 66%
  • Attic Bedrooms: 88%
  • Kitchen Upgrades: 84%
  • New Roofing: 80%
  • Siding Replacement: 87%
  • Window Replacement: 84%

And lastly you should keep track of your home’s value. The best way to do so would be to look at homes that are on sale that are similar to yours. That way you can compare with the value of your home. If you find out that a house down the street from you sold for $400 000 with an outdoor room and a new kitchen, then you can get an idea about your own home. About the improvements you should look into. Want to track homes online and be notified when they sell, you can do it via the Internet, using our Home Buyer Marketing website.

So consider a few things before rushing into home improvement, other wise go ahead and enjoy the look of your new home.

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