| Have you been wanting to add a room, turn a closet | | | | projects can be costly when comparing cost versus |
| into a bathroom, revamp and modernize your kitchen, | | | | value, but recoup enough and add functionality so |
| replace appliances, or retile the floor? Remodeling | | | | they are still good ideas. Be sure to use experts for |
| projects can really add to the usefulness and space | | | | any addition projects as you may have code issues |
| of your home, but some will add more (and in some | | | | and zoning requirements an expert is better able to |
| cases a lot more) value to your home. Here is what | | | | meet. |
| some of the best real estate experts are | | | | 4) Home office, screened porches, refurbished |
| recommending: | | | | basement, attic bedroom, home office. These |
| 1) Keep within the bounds of your neighborhood - a | | | | projects are a little lower on the average return on |
| $50,000 home theatre is neat to have, but if you live | | | | investment, 70 - 85%, but they should not be |
| in a $100K-$200K neighborhood this will not add much | | | | overlooked as they can make your house sell quicker. |
| to your resale value or can make it very hard to sell | | | | A screened porch is a must in some neighborhoods |
| for what you want. You would be out pacing and | | | | and many buyers have now come to desire or even |
| outpricing your neighborhood. If you are going to | | | | require a home office as current trends show an |
| stay in your house for ever this is fine (you can do | | | | increase in home offices and the self employed. Also, |
| whatever you like then). Look at what your | | | | a home office may be partially tax deductible. Again, |
| neighbors have or are doing and look at recent sales | | | | the rule is stick with tradition, look at your local |
| prices and trends for your neighborhood. A good, | | | | furniture stores to see what people like their rooms |
| seasoned, local realtor can be a big help here. They | | | | to look like. Large furniture manufacturers spend |
| know what adds value and will help sell for top dollar. | | | | millions to find what people want in home offices and |
| 2) Kitchens and bathrooms are key! In every area of | | | | such and place their furniture and room settings with |
| the country these remodeling projects are the best | | | | this in mind. Don't go to modern or try something |
| at recouping their cost and actually adding to the | | | | unique, tradition sells. The more unique you make |
| resale value of your house. Average return on | | | | your home the harder it will be to sell it. |
| investment 100 - 105%. Energy efficient appliances, | | | | 5) Game rooms, saunas, pools, bars, upgraded |
| stainless steel, new countertops, new sink, paint, | | | | windows, etc... These are projects that are good if |
| flooring, crown molding will do wonders for the | | | | you are planning on staying in the home for a long |
| kitchen. Only go for granite if some of your | | | | time and don't care too much about resale value. |
| neighboring houses have it, else you are again out | | | | These projects generally have much lower resale |
| pricing your house. New fixtures, tub, double instead | | | | values and will only result in a loss of money. Again, it |
| of single sink, recessed lighting, flooring and paint for | | | | is best to ask a local realtor what works and what |
| the bathroom will catch a buyers eye - less they will | | | | does not. |
| have to do to make it home. Tip - when painting go | | | | There you have it - what works and what does not. |
| with neutral tones and, if possible, use a expert for | | | | Keep in mind there are some communities where the |
| tips on colors. | | | | norm can be different and it is always best to consult |
| 3) Decks, fences, bathroom addition (not remodel). | | | | an expert for their opinion. Besides it is free to |
| Average return on investment 80 - 90%. These | | | | consult the best experts - real estate professionals. |