How to Increase Your Home's Value

Real Estate

Looking to update your home?  According to Realtor Magazine, the projects below outline the key areas in the home to concentrate your efforts in order to eventually recoup at least a percentage of the dollars spent.

Minor kitchen remodel - 88% 

Bathroom Remodel - 85%

Major Kitchen Remodel - 81%

Family Room Addition - 80%

Deck Addition - 77%

Adding a Master Suite - 75%

Attic Bedroom  - 74%

Siding Replacement - 73%

Window Replacement - 69%  (this will save on the utilities as well)

Office in the Home  - 55%

Projects that may increase your home’s value include: Jacuzzi (4 jets or more); permanent hot tub; in-ground pool; security system; sprinkler system; substantial out buildings; and vaulted ceilings. These may not add value to your house: above-ground pool; ceiling fans; garden pond; and light fixtures.

As you begin to plan your remodel there are few key ideas to keep in mind:

Remodel with mass appeal in mind.  Unique is always nice, but the more people your home appeals to the wider you'll cast the net when you decide to sell.

Use durable, high quality material.  When homes are remodeled to sell using low end products and bad construction, it shows.  If you wouldn't want to live with it, don't use it.

Keep the value of your property within 15-20 percent of your neighbor's values.  If everyone is updating their property, it may be time for you to take a critical view of your own home.