Home Improvement Projects Can Increase The Value Of Your Home

Home improvement projects can improve the look and value of your home dramatically. Though in some cases, using a home improvement project as a way to increase the value of your home can actually backfire and cost you money. So how will you be able to tell if the project that you have planned will add to the value of your home or decrease the value of your home?

The first thing that you need to know is the appraised value of your home. You must know the appraisal value, or estimated resale price, of your home before you can determine if a project will increase or decrease the value of your home. Although you may feel that your home is worth a certain amount of money, and that a home improvement will increase the value by X amount of dollars, your feelings will not set the final selling price, the appraisal will.

When completing a home improvement project that you believe will dramatically improve the resale value of your home, you need to consider your neighbors houses. If you have the nicest house in your neighborhood, but you are trying to sell it for twice as much as the appraisal value of other homes in the neighborhood, you will be disappointed.

A general guide is to not try to sell your home for more than 20% of what the surrounding homes will sell for. For simplicity, let us assume that the homes in your neighborhood are appraised at a value of $100,000. This would mean that you could expect to get about $120,000 out of your home if you make selective home improvements.

What this means for you as a homeowner is that you should seriously rethink any home improvement project that would cost more than $20,000 going by our above example. Using the above example, it is easy to see that a $30,000 home improvement project would cause you to lose money in the long run.

Now, if you can make a home improvement that costs very little, but results in a higher resale value, it may be a good idea to pursue that project. Going back to our example, if you can spend $5,000 on a project and this results in your home being appraised at $115,000, then it is a great investment idea.

You also want to consider the appeal that your home improvement project would have to a future owner. For example, swimming pools and hot tubs may be something that you enjoy, but would a potential buyer pay extra for those features? There are some fairly safe projects that you can pursue that other home buyers generally find valuable. Some of these include kitchen remodeling, adding or remodeling a bathroom, adding a new room, landscaping, etc.

Also keep in mind that maintenance projects do not usually result in an increased value for your home. Replacing a broken furnace or hot water heater usually will not improve the value of your home when selling it. These are considered maintenance issues that all homeowners expect the home to have working. Most people would not consider paying full price for a home that does not have these basic features in working order.

The bottom line is that if you are interested in increasing the resale value of your home you need to make smart decisions. Smart decisions on which home improvement projects to tackle can put extra money in your pocket when you sell your house.

Identifying Potential To Enhance Home Improvement

There are many home improvement possibilities a person can reap the benefits of when attempting to enhance the appearance of their home and increase the price of their property. While appointing a specialist may offer a pleasant possibility with regard to convenience, the incredible expense associated with these services can usually persuade individuals to look for alternatives. When considering the possibilities that exist with alternatives for your housing improvement projects, make the most of the do-it-yourself opportunities which exist with landscaping, painting, flooring, and bathroom remodeling.

Landscaping

The appearance of a house is often directly associated with the common real estate expression of curb appeal. When you have a property that has vegetation, that is out of control or provides very little character, it can facilitate in deteriorating an individual’s opinion of your house, before they have even viewed the interior. When seeking to enhance your home’s curb appeal, the do-it-yourself landscaping home improvement solution can offer a great number of advantages, as you look to spruce up your existing environment and enhance appeal through cost-efficient projects which can complement the look and feel of your home.

When seeking to considerably change the interior or exterior of your house, one of the most effective methods you can take advantage of is found with do-it-yourself painting. This home improvement possibility can enable you to totally change the feel of your home. Simply by altering your color scheme you can give your rooms new, unique ‘personalities’. Whether you’re painting a room for a child or trying to create a welcoming living room environment, the resources of painting can provide you with several unbelievable opportunities.

Just like the possibilities that exist with painting, flooring indicates one more unique possibility which can help to completely change the environment this flooring exists within. If your home is covered in old carpeting, then a fresh change of wood or stone flooring can prove highly advantageous. If you have outdated linoleum, the do-it-yourself solution of ceramic tiles or stone can assist to accent a kitchen or bathroom.

Bathroom Renovations

Another extraordinary do-it-yourself resource which homeowners can make the most of, when looking to make the most of the objectives of home improvement, can be found with bathroom remodels. Bathrooms are usually environments that are extremely personal, and the difference a clean, bright look gives to the room’s ambiance should not be underestimated. A remodeled bathroom can prove very alluring to prospective investors, as they will get a better return on their investment due to the appeal of new features, instead of worn and obsolete materials.

Each of these do-it-yourself home improvement opportunities helps to provide a homeowner with a unique possibility to save money while increasing total home value.

BuildingChoice is a website created for Australian consumers in particular to free access up to date information and prices on a wide range of building products and appliances. It features a Trades Directory to enable consumers to easily locate and contact the professionals needed to complete a building project – from architects and interior designers to plumbers and plasterers.

Picking and Planning Home Improvement Projects

If you’re trying to decide on which home improvement you need to make, it’s important to cover all the angles in your planning.

By finding the most appropriate project, you can make sure that you spend your time and money productively on one that’s going to address an important problem in your household. Frittering away time and money on sundry projects when a home has specific needs is a good way to ensure that you don’t have the resources to take care of the big things when they happen.

When choosing a home improvement project, consider the following criteria:

– Can I do this? Let’s face it, not all of us are Mr. Handy. When choosing a home project, consider your ability in the skills that the project will require. If it’s something bigger than you can handle, you should instead call in a professional – or come back to the project later when your budget allows.

– Budget. Most of us don’t have bottomless bank accounts, so undertaking projects we can afford is important. Make sure you understand all the costs involved before getting involved with a home improvement project.

– Safety. Projects related to home safety should get your first priority. If you’re living in an older home, you may have carcinogens from old asbestos insulation or cladding, or there may be lead-based paint present. Removing the presence of these illness-causing substances is very important, and should be done by a professional.

Less dramatic safety threats include malfunctioning fire safety equipment, unstable steps or stairs, a leaky roof, bad wiring, loose handrails, slippery floors etc. These needs should be at the top of your priority list for home repair.

– Comfort. This is a key concern for homes, as the average Australian spends a large portion of his or her time inside. Making your home as comfortable as possible is an important quality of life issue. So if you have a leaky tap, noisy appliances or flooring that could benefit from carpet, those home projects need to move to the front of the line.

By understanding which home improvement projects need attention first, you can choose a project that isn’t a distraction from more pressing matters, and improve the quality of life at your home. Assess the impact on you, you family and your lifestyle before beginning, and don’t start until you have your desired outcome in mind.