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How to Choose the Right Home Improvement Projects
You may be ready to make some home improvements, but which ones can give
you the most bang for your buck? What upgrades add the most value to a
home? Let's talk about how to raise appraisal value and which home
improvements will add to a home buyer's (if you are selling your home)
perceived value.
Even if you aren't selling your home, but want to raise the appraised value
because you plan to refinance, want to make your home more child-friendly
(hello, hardwood!), or the time is right in your life to make some upgrades,
here are some things you should consider:
Here's our take on the top value-adding home improvements:
Tips on Choosing the Right Upgrades:
you the most bang for your buck? What upgrades add the most value to a
home? Let's talk about how to raise appraisal value and which home
improvements will add to a home buyer's (if you are selling your home)
perceived value.
Even if you aren't selling your home, but want to raise the appraised value
because you plan to refinance, want to make your home more child-friendly
(hello, hardwood!), or the time is right in your life to make some upgrades,
here are some things you should consider:
- Identify your ultimate goal. Appraisal value? Personal enjoyment? Safety
concerns? Accommodating a disability? Convenience? - Who will be appreciating the upgrades both presently and in the future?
- How will a future homeowner perceive these upgrades?
Here's our take on the top value-adding home improvements:
- Kitchen Renovation. People like to see kitchens that appear clean and
new. This may mean replacing countertops, flooring, appliances, and
adding a fresh coat or paint or a tile backsplash. Older homes benefit the
most from this improvement. - Bathroom Renovation. Second only to kitchen remodels are bathroom
remodels. This means replacing countertops with an updated cultured
marble or granite, faucets, or even removing an outdated tub and
replacing it with a tile shower. If you have any linoleum in your home,
replacing it with tile is a good way to improve home value. - Curb appeal. The exterior of your home is the first impression of a future
homeowner or guest. This means siding, shutters, painting or replacing
the front door, cleaning gutters out, and landscaping. - Fiber-cement siding. Replacing vinyl siding with fiber-cement siding is
one of the top value-adding improvements you can make. This will
increase curb appeal and appraisal value while reducing maintenance cost
over the years to come. See our fiber-cement siding page for more
benefits. - Flooring. This bears repeating - if you have any linoleum, consider
replacing it with tile or hardwood. Carpet, laminate, and linoleum are
considered by appraisers as "disposable" floorings. Wood and tile is
considered permanent, and will raise your home's appraised value as well
as a future homeowner's perceived value. This will raise the value of a
home regardless of how new or old the home is. - Decks. Even though decks and porches can cost nearly the same to
construct, decks have a much higher perceived value. - Painting. Painting does not raise appraisal value, but it can raise
perceived value. Neutral colors help homes sell. Bright or flashy colors
can delay a home from selling.
Tips on Choosing the Right Upgrades:
- Quality. Going cheap will show, but you don't always need the most
expensive, either. If you personally like marble tile, then maybe you
should install it. However, don't assume the future homeowner will want
to pay proportionately more for this upgrade unless the rest of the home
is equal to it in luxury. - Converting unused space to livable space. Adding square footage, like
completing a basement, can be one of the most value-adding
improvements you can make. However, if you convert unused square
footage to livable space, be sure it flows with the rest of the floor plan.
Otherwise, it may be perceived as awkward. - Swimming pools. Swimming pools are infamous for not adding any value
to a home when it comes time to sell. Families with small children or
elderly homebuyers may not be interested in a home with a swimming
pool. While this may be a good decision in Texas, weigh your options
before adding one here in Missouri. - Be consistent with the homes in your area. It's good to have an element
of uniqueness, but be careful not to narrow the number of people who
would find your home attractive. Don't out-do the neighborhood too
much, or your home could feel out of place, and you may not get all your
money back. - Older homes benefit most from upgrades. If you have 1970's colored
kitchen appliances, you might consider replacing them with new
appliances. Things like interior wood paneling and outdated appliances
can make a home stand out in a homeowner's mind as "old" when another
home merely a couple years newer that has already had those
improvements will seem considerably newer, and consequently have a
higher perceived value.
123 Rose Arbor Ct.
Walnut Shade, MO 65771
Walnut Shade, MO 65771
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