What are the best ways to increase the value of my home?
Renovations? New heating/insulation? What can I do to get the most "bang for my buck"?
Answers
3090 points
EthanR answered one month ago …
The two best returns on a renovation dollar come from the kitchen and bathrooms. But they won't give your home a higher value than the money it takes to renovate. In other words, if you spend $15,000 on them, you probably won't get back more than $15,000. But you will make your home more saleable, if that's what you are looking to do.
The least expensive ways to increase the value of your home are painting and landscaping, especially if you do them yourself. For about $500 worth of paint and landscaping, you can probably get back a few thousand dollars in value. If your home needs painting, that's where I would start.
Don't put in a pool or build an addition. You will spend a lot more than you will get back.
581 points
jillybeansisme answered one month ago …
If you're trying to sell it, declutter it. Pack your clutter up and get it out of sight. That doesn't mean shove it in a closet. You want them neat and clean. Tidy up the yard of debris. Plant some inexpensive flowers. Trim the edges of the lawn. Recaulk the bathtubs and kitchen counter. Wash the windows until they sparkle. . . and don't forget to clean the chandelier!
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148 points
cherry answered one month ago …
As a long term realtor (30 years) I agree with Jillybean and Ethan and would like to add the following;-
GET RID OF ARTIFICIAL FLOWERS AND LACE DOILIES! Lokk at the latest home magazines (you don't have to buy them) In most upscale areas and among the 30 something buyers Martha Stewart is OUT..they are looking for a cleaner cooler look that is more sophisticated. Remember you are NOT buying your house so your personal taste is not the issue. People want a blank canvas that they can project their own image onto . Fresh colours either muted or in small accent bright spots.FRESH flowers or flowering plants. Bowls of fresh fruit in dining or living areas . a dish with colourful vegetables (green red yellow peppers etc) in the kitchen. Soft semi classical music .And re-arrange your furniture to make sure that you do not visually BLOCK the entry into living area with the back of a couch or a table . YOU WANT TO MAKE THE VIEWER FEEL WELCOME and comfortable
so get out of their way.and very important NO SMELLS of incense, perfume, mould ,cooking ,diapers,kitty litter, doggie stuff etc Go through with the FEBREEZE about an hour before the open house , place a sheet of BOUNCE or other fabric softener in each closet and bathrooms. The smell of fresh laundry is an indicator of a clean house, Coffee and cinamon buns or
a pot of water simmering with apple and cinnamon is nice aroma on a cool day. light the fireplace if you have one. put out colorful hand towels in bathrooms and just one fresh flower.and maybe a bowl of bath salts for a spa aroma. IT IS REALLY AMAZING HOW MUCH THESE LITTLE THINGS COUNT
400 points
spider348 answered one month ago …
Good question . As a RE investor I agree with the previous responses.
One thing to remember, it can be done relatively inexpensively - "I am the king
of frugality". So not knowing the condition, or marketability of your property here are a few suggestions:
- Fresh paint/neutral colors (paint the trim a different color)
- clean , clean and clean some more
- remove personal items such as family pictures, exercise bikes, etc
- got an ugly garage floor - paint it.
- You can replace cabinet doors or refinish (paint/stain) them rather than replace cabinets
- fresh carpet or hardwood refinishing and or bath flooring
- little things like new tile back splash in kitchen, and bath; replace the faucets, replace old lighting and the dated mirrors
- new appliances are always a huge selling point
- de-clutter exterior too
- keep in mind finishing an unfinished basement might not always be a good return on your dollar. In my area it is expected to have one, so I am doing a 'basic' finish and I expect to take a small loss on the investment. I am only doing it to add marketablility.
This is basic stuff but point here is look at all the little things that can be refinished or replaced inexpensively before you decide to 'gut and redo' a kitchen or bath (they are the primary focus). I have done this with other properties and the little stuff can add up to a much better looking and marketable property. And do it in a way that is not your taste but would be palatable to the masses. Good Luck
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