Increasing Your Home’s Value

BY JOE SZYNKOWSKI

Not all home improvement projects are the same. The impact of a project or upgrade depends on factors such as the market you’re in, and your existing home value. Some projects like adding a pool or wood floors tend to have bigger increases for more expensive homes, while projects like a kitchen remodel or adding a full bathroom tend to have a bigger increase for less expensive homes. With housing prices increasing again, there has never been a better time to invest in your home. There are always ways to improve the value of your home — no matter your budget. Check out the following suggestions, categorized into three modest price points:

Improvements under $500

  • Simple and cost effective, fresh paint will have a dramatic impact on a space.
  • Remove outdated ceilings. In the 1980s and 90s, popcorn ceilings were all the rage. And now, their time has come to an end. This project requires more elbow grease than money.
  • Attend to small repairs. This means things like a loose hinge on a kitchen cabinet, burned out light bulbs, squeaky doors and jiggly handles. While these things may not seem like much, they speak to the care of a home.

Improvements $500-$1,500

  • Install closet storage. Closets can be a blank canvas for clutter. Installing organizers keeps things in their place and provide a little luxury
  • Improve small bathrooms. This could be as simple as new light fixtures, an updated vanity or a new shower curtain. You are guaranteed to see a return on investment on most bathroom upgrades, so this is a safe area to spend on.
  • Upgrade old appliances. Kitchens add big value to your home, so even updating the sink or swapping out a microwave range hood for a sleek drop down will maximize value.

Improvements $1,500 and Up

  • Update flooring. This could be as simple as replacing the tiles in the small hall bath or removing the wall-to-wall carpeting and installing hardwoods throughout.
  • Refresh exterior paint. Curb appeal is a big deal and can increase the property values of an entire neighborhood. A fresh coat of paint keeps things looking clean and crisp.
  • Resurface concrete. While a cracked driveway or walkway may not seem like much, the weeds growing in the cracks whisper of neglect. A solid surface stained eith an attractive color shows that a property is well-looked-after

Remember that the cost and payback of each project will vary depending on your region of the country, neighborhood within that region, as well as the overall condition of your home.

Need assistance? We will be happy to meet with you and share our guidance. Schedule an appointment today. Call us at 888-670- 6791.

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