Home Improvements To Increase Value – Maximize Your To-Do List
Your home is one of if not the biggest asset you have, and what you do now will affect you in your home, increase or decrease in your biggest asset, so choose wisely. First, I will go over what I have learned throughout my career when helping my clients purchase, sell or refinance their homes and what professionals such as appraisers, builders, and investors have informed me of the best improvements to bring up a home’s value.
I want to first keep it simple by going over minor improvements that have a significant impact. When investing in your home, start with the fundamentals such as:
- Glass Closet Doors
- Ceiling Fans
- Replace Outlet Covers
- Replace Doorknobs
Those are inexpensive investments that can be quickly completed with a small investment, whether you plan on selling or refinancing your home. However, I would also suggest that you take the time to research the item you are thinking about purchasing and read as many reviews as you can, and I mean really read as some thoughts are generic or written by someone who is just upset for reasons that have nothing to do with their purchase.
For example, if you are going to purchase a ceiling fan, you want to go online and read what others have said about their purchase based on your price point to the fan you wish to purchase, and you may want to look at multiple vendors and base your decision on your overall research as to what is the best quality, functions and of course price.
Depending on the age of your house, condition, year built, the last update of your home, the most recommended improvements to your home would be the following:
- New Roof (Do your home and look for lifetime warranty)
- Flooring (Hardwood flooring)
- New Cabinets
- Counter Tops (Marble)
- Bathroom Sink & Bathtub
The repairs needed are based on your budget and present and future goals, meaning if you know you are going to sell, you may decide to either spend less or focus on higher quality. So focus on what you want and if you do get advice, make sure to speak to a professional as often people will purchase because someone talked them into something that sounded great but ended up not bringing their home higher in value and brought little savings.
Remember, “inch by inch, life’s a cinch, yard by yard, life is hard,” so be organized by making your master plan.
Start by making a list of your overall plan, meaning if you will keep this home, sell or do you plan on passing your home to your family. Once you decide on your goals, focus on your overall budget, as this will help you have a road map as you would not drive somewhere you have never gone to unless you had your Waze app or google maps, right? So why do repairs needed that are important to you and your family without making sure you do your homework and then execute your plan.
You are now, “In the Know!”
“Your Lifelong Mortgage Advisor”