Five Home Upgrades That Payoff
… and Five That Don’t
Buying a house is one of the most
important investments we’ll ever
make. We are often extremely
attached to our homes and put
an immense amount of pride into
them. There are times however,
from an investment standpoint,
when it’s wise to think twice
about a remodeling project and
whether it’s an emotional decision,
or if it will truly add value to your
home. Here are five remodeling
projects that typically make good
financial sense when considering
the resale value of your home,
and five that don’t.
MAKES GOOD FINANCIAL SENSE
Kitchens
These days the kitchen is the central hub of most
households and one of the main areas of the home
that home buyers factor into their decisions. It’s
the place where the family gathers for meals,
homework, entertaining, late night cocktails, etc.
It’s no wonder that a kitchen remodel is one of
the most common in terms of increasing the value
of your home. In order to get the most return on
your money, it’s best to use the existing layout and
avoid moving plumbing, appliances, etc.
Adding Living Space
Newly added square footage increases your home’s
value and is typically a very good investment.
Regardless of the size of the addition, there are
certain costs that will be incurred when adding
more square footage, such as demolition of an
existing exterior wall, a new foundation, new roof,
exterior siding and potentially new windows, so
make sure you get the most bang for your buck.
Curb Appeal
A potential home buyer’s first impression of a
home is very important. Even if the inside is
completely remodeled, some people will avoid
going any further if the front of the home doesn’t
have that curb appeal they’re looking for. There
are a number of very affordable projects that can
improve a home’s appearance, including basic
landscaping and re-painting. Other more costly
changes, but wise investments, are new windows,
an upgraded entryway or front porch.
Master Suites
The environment in which you sleep is an important
decision when buying a home. Potential home
buyers usually pay more attention to master suites
than any other bedroom in the house.
Bathrooms
A bathroom remodel is similar to a kitchen
remodel, where you will see the most return on
your investment if you focus on cosmetic cha