Home renovation reality shows have inspired many homeowners to consider costly upgrades for their own homes. While many home improvement projects are worthwhile, it's important to know which ones are worth it from an investment standpoint.
Here are a few key considerations to keep in mind when you're deciding on a renovation project.
Value Added (or Subtracted) for Future Buyers Think of your renovation project in terms of what will appeal most to potential buyers, even if you're not considering selling anytime soon. Converting a garage into a living space or eliminating a bedroom or a closet may cause future buyers to cross your home off the list; these spaces are among the most important to potential homeowners.
Project Payoff Be cautious when undertaking large-scale renovation projects. While smaller DIY touch-ups and proper home staging can yield big dividends for sellers, large projects may not always pay off.
Remodeling magazine's2016 Cost vs. Value Reportshowed that replacement projects, like changing a front or garage door, offer serious gains.
Which large projects pack the most punch when it comes to adding value? Two-story additions, master suite upgrades and major kitchen remodels top the list.
Your Neighborhood's Market Conditions Consider the resale market in your neighborhood before deciding on a renovation project. This is particularly important if you're considering large-scale projects, like a full kitchen renovation or converting an attic space into an extra bedroom.
Every neighborhood has aprice thresholdof what buyers are willing to pay, so a $75,000 kitchen remodel may not be worth it in a neighborhood where home values top out at $200,000.
Author:Salvatore Defrisco Phone: 561-644-0052 Dated: March 27th 2016 Views: 235 About Salvatore: ...
View our latest blog posts in your RSS reader. Click here to access.
We are a full service real estate brokerage with over 100 agents to serve you. Let us be your real estate resource. Regardless whether you need to buy or sell now, or sometime in the future, let us help you. We are no pressure and will always try and help. Contact us at 561-792-3948 now.
"Tue, May 17, 2016
Just wanted to take a moment to recommend an outstanding real estate agent. About a year ago my wife and I looked into buying a new house. We looked at exit realty's website and the next morning we received a call from Joseph Schneider. He is a true professional with an outstanding personality he will instantly make you feel welcome as if you're working with a longtime friend. My wife had unusual requests for the property and Joseph listened and found the property meeting all our needs. He is patient and knowledgeable I would recommend him to all. We purchased our new home in August and since then Joseph has remained in contact, just checking in from time to time. You can look but I doubt you will find a better agent !"