Home Improvement

Advice on Home Improvement:

When contemplating a home improvement project it is important to understand the difference between improving the marketability of your home versus actually increasing the value of your home. While any improvement to your home inexpensive or expensive can increase the likelihood of a faster sale, they do not necessarily increase the value of your home. The actual value of your home is determined by an appraisal. The appraisal takes many things into consideration when determining the value of your home. Some important factors are condition, age, and square footage, number of bedrooms and baths and location. Then he/she compares your home to other like properties in the surrounding area that have sold.

Don’t underestimate the value of proper landscaping and cleaning when showing or appraising a home. A well manicured lawn, healthy and well laid out trees ampersand plants, fresh paint, gleaming floors, and clean exteriors go a long way toward boosting the marketability and perceived value of a property.

Some improvements that add value in the short term are: Adding square footage of living space such as additional bedroom, sunroom, playroom. Adding on a garage or deck will also increase your homes value.

Some of the best additions for adding value to a home are a second bathroom and energy efficient windows. Before you do any home construction project remember to check any local building codes and acquire the proper permits. Additions and modifications done to a home without a permit can cause trouble if you decide to sell your home at a later date.

If you have a home that is outdated then chances are you will not receive full value for the home but even if you do, it might have to sit on the market much longer than if you made some simple improvements. If your interest on your payments are $1,000 dollars a month and it sits on the market 3 extra months then you have actually spent an extra 3K on that property to get it to sell. Sometimes it makes sense to look at this and maybe take 2 or 3K and spend on painting and misc. updates to make the home sell much faster. A good local realtor can help you determine what is selling in your neighborhood and help with the decision of where to place the money for the updates. A simple painting on the interior will do wonders for a home. But don’t loose sight of the curb appeal too. If a potential buyer doesn’t like the outside (curb appeal) they won’t look inside.

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Tagged with: compare • construction • property • va

Filed under: real estate

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