Home Improvements That Add Value to Your Home

Homeowners who want to remodel their homes need to know that not all home improvements will increase the value. Some home improvements pay off by increasing your home's value, while others will do little to improve it. With that said, the best place to start remodeling your house is in your kitchen and bathrooms.

Remodeling Your Kitchen

The kitchen is a good place to start since it is the most significant room in the house and where most family interaction will occur. The average ROI (return-on-investment) for kitchen improvements ranges from about 80 to 90 percent with average costs of about $15,000 and up. If you don’t know where to start, try adding new tile flooring, re-facing old cabinets, and/or updating appliances to new energy efficient models.

Remodeling Your Bathroom

Bathroom renovations can produce a return of 85 to 90 percent, with costs starting at $10,000. Adding a new bathroom can return as much as 85 percent, especially if you only have one bathroom to start with. Also, since it’s more difficult to sell a one bathroom home, adding a second bathroom can make your home significantly easier to sell. Good bathroom improvements include:  Installing double sinks, new bath fixtures, faucets, and tile floors.

Other Good Home Improvements

Home improvements can be a beneficial, yet time consuming task. Bigger improvements could include: Installing a fireplace, building a patio or deck, or adding new heating or cooling systems. However, you do not have to spend a lot of money to enhance the look of your home. Smaller improvements that do not cost a lot of money could include installing a ceiling fan or replacing old doors. Cosmetic improvements can also go a long way in the minds of prospective buyers.

Home Improvements to Avoid

Home improvements will not always improve the bank account. For example, the addition of a swimming pool to the back yard is fine if you and your family will enjoy swimming.  However, one must keep in mind that pools rarely increase the value of a home. If anything, a swimming pool could make your house more difficult to sell.

Avoid making too many expensive improvements that go beyond the trend of your neighborhood. You don't have to deny yourself the paved driveway, but owning the most deluxe home on your block could be another obstacle when it comes time to sell your home.

Finally, keep in mind that every home buyer will have different tastes. A home with materials and colors that appeal to a broader range of people will sell much faster than home that has a very distinct style.

If you are wondering what home improvement loan is right for you, call us at 866-882-ZERO to talk to a loan expert or click the button below and a refinance expert will contact you.