It's no secret that the real estate market has been tough over the last few years, and improving the value of a home can make the property sell sooner and for a higher value. Home improvements can make a big difference in the resale value, however not all home improvements are equal. Beware; some renovations may make little or no difference raising home values, while others have a major effect on the final sale price. Let's take a look at 5 home improvements that can have a major impact on property values. By shopping around you will find attarctive pricing and contractors willing to provide competitive pricing.
Kitchen Remodeling
Replacing appliances and upgrading the kitchen may have the biggest effect of interior home improvements on raising the value and desirability of any given home. In 2008 Realtor Magazine reported that both major and minor kitchen repairs resulted in the biggest return on investment between 70 to 79.5% of investment, depending upon the extent of the repair. Midrange kitchen remodeling was reported to have the biggest impact nationwide.
Bathroom Remodeling
Bathrooms can be either a negative or positive selling point. Bathroom fixtures that look old or outdated can taint a prospective buyer's view of the entire house. Conversely, fresh and modern sinks, tubs, and commodes can help convince home shoppers to send in a bid.
Bathroom Additions
Many older homes have just one or two bathrooms and that can be a deal breaker for many modern families. Expanding half baths and adding full baths to the master bedroom, basement, and other areas in the house may drastically improve the desirability of older houses.
Attic Bedrooms
Home buyers are interested in useable space so attic remodeling makes sense. These rooms often have a quaint and charming quality that buyers notice, and a remodeled attic room usually costs less than an addition so the seller can offer more bedrooms without drastically increasing the sale price to recoup costs.
Refinished Basement
Kitchen Remodeling
Replacing appliances and upgrading the kitchen may have the biggest effect of interior home improvements on raising the value and desirability of any given home. In 2008 Realtor Magazine reported that both major and minor kitchen repairs resulted in the biggest return on investment between 70 to 79.5% of investment, depending upon the extent of the repair. Midrange kitchen remodeling was reported to have the biggest impact nationwide.
Bathroom Remodeling
Bathrooms can be either a negative or positive selling point. Bathroom fixtures that look old or outdated can taint a prospective buyer's view of the entire house. Conversely, fresh and modern sinks, tubs, and commodes can help convince home shoppers to send in a bid.
Bathroom Additions
Many older homes have just one or two bathrooms and that can be a deal breaker for many modern families. Expanding half baths and adding full baths to the master bedroom, basement, and other areas in the house may drastically improve the desirability of older houses.
Attic Bedrooms
Home buyers are interested in useable space so attic remodeling makes sense. These rooms often have a quaint and charming quality that buyers notice, and a remodeled attic room usually costs less than an addition so the seller can offer more bedrooms without drastically increasing the sale price to recoup costs.
Refinished Basement
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