Not all improvements that you make to your house will pay off by adding value to your property when it comes time to sell. Here are some tips on the kind of things you can do to potentially increase your home’s worth at resale.
- Install new energy-efficient windows and doors. (Going green is where it’s at)
- Modernize kitchens and baths. According to a report on HGTV, you get back 60-120% of kitchen remodeling costs as long as you don’t go crazy with too many gourmet features.
- Add another bath (HGTV says you will recoup 80-130% of the cost of this addition.)
- Add another room to increase the square footage of your home. This renovation always pays off at resale.
- Add a deck to your house. According to a recent issue of Remodeling Magazine, adding a wooden deck has become a money-maker at resale.
- Increase your home’s curb appeal through driveway repair, exterior painting, and landscaping. The first impression is the lasting one !
On the other hand, here are a few renovations that are unlikely to add value to your house although it seems like they should.
- Adding a garage. The cost of this project is too hefty to recoup at resale.
- Adding an in-ground pool. Also expensive, and it may actually detract some buyers from your property.
- Replacing plumbing, electricity or your roof. Buyers expect that these features will be there and in good working order.
If you want to attach a garage to your house to make your own lifestyle easier, or you would enjoy an in-ground pool with friends and family, go ahead and make these renovations, but don’t just “assume” they will add value to your home when the “For Sale” sign goes up.
Check out the Jack Conway page for sellers here for more information.