What's the best way to add value to a home?

Robin Lynch, "robin398"
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Robin Lynch, "robin398"

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Generally, the cheapest place to gain extra space is through a loft conversion. This depends on the type of property, so check with an estate agent first, to find the best way in which to add value. For the most lucrative extension, you should convert the attic space into a master bedroom, preferably with an en suite bathroom or closet. With a loft conversion, you must consider the structure of your roof and where the beams lie, and you may need dormer windows to receive enough light. You have to ensure that the stairs to the conversion are at the right gradient, and this might mean building across the floor below, so remember that whilst you're gaining space in the roof, you might lose it from another area of the house. With this in mind, you must do thorough calculations, to ensure that an extension is really worth the effort.

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July 12 2007

wiskowbean
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wiskowbean

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Click on this link, it's HGTV's Top 15 Home Updates.

http://www.hgtv.com/hgtv/pac_ctnt_988/text/0,,HGTV_22056_52571,00.html

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July 15 2007

Erika Ambrosio, "bayareahomes"
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Erika Ambrosio, "bayareahomes"

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Dave,
Ask for an opinion from a professional realtor. I am sure they would not charge you for that. Each home can be added value differentely. To make your home worth top dollar talk to a professional and he/she will tell you what buyers want nowadays. Good Luck!

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July 15 2007

David Rush, "Boonedeckguy"
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just a thought, but sometimes people forget that most buyers look at the homes' curb appeal & make a decision in about 10 seconds as to whether they want to look inside. therefore, it just makes sense to clean your property, including the roof, driveways, decks, fencing or the vinyl. Mold will scare people away real FAST. Most of these are a quick & inexpensive fix compared to re-models or rennovations. Just as HGTV says a fresh coat of paint on the inside works well, so does a coat of stain on the deck, or just a good cleaning.

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July 16 2007

CHFarris
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If you're just trying to sell for top dollar, curb appeal, fresh paint and good staging will do the trick unless the kitchen and baths absolutely suck. Then your price will have to reflect that. The three items I mention are also the cheapest things to do in order to sell. If you're going to live in the home awhile I would say start with what is most important to you. If you cook a lot, do your kitchen; if the bathrooms are totally 1942 and in poor shape, do them. Because a master BR/BA are so personal to many people I would think that unless you're a real pro, or again, just want this space for yourself, that would not be a winner. Getting a professional realtor's opinion is a great idea.

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July 19 2007

sas912
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Dave,

If your cabinets are good quality wood, you can freshen them up with paint or sand and restain, put new hardware on and they will look brand new. (This goes for the bathroom as well) Even the laminated stuff can be sanded and painted to get rid of that horrid 1970s fake wood look if that's what you have. If your budget is tight, consider freshening up the cabinets and putting in new countertops. Many material suppliers will have "seconds" or pieces that for one reason or another did not get used that can be recut for your project. Make friends with your local marble, granite person if that is what you fancy; they have a lot of leeway in giving you a price and you'd be surprised how much of a discount you can get if you work it right.

Spend your money on new appliances such as stainless everything, which most people love and you can find stainless in almost every price point if you look. And if you have a place like Brandsmart or other big appliance supplier, see if they have a "scratch and dent center". When my friend redid her kitchen, she had all of her measurements and the model numbers of what she wanted - we went to the scratch and dent place and she got all of the appliances she wanted at about a 40% discount and because of where the imperfections were, it was not noticeable once they were installed. Six years later, she is still happy with her choices.

Good luck!

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July 21 2007

Annarosa Hope, "Scottanna123"
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Annarosa Hope, "Scottanna123"

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What if a Company will buy my house based on the average between two different appraisals.
I need to decide what to improve in my house to have the higher appraisal possible.
1)Finish bathroom (already stubbed) in the already finished basement.
2)Update kitchen floor with tiles or hardwood
3) Upgrade laminate countertop with granite.
4) replace 16 yrs old roof
5) replace appliances.
6) upgrade master bathroom

Please let me if these upgrades are going to increase the appraisal and in which order I should consider them.

Thanks

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July 24 2007

thebeautifullife
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Add a room addition.

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July 24 2007

xeign
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Though remodeling your home does the trick but up-grading your home basically increases its value also. Replacing the materials used in some parts of your home could be done too (e.i. Flooring materials from plain tiles or smooth-finish cement to marble). "Dressing" your home to the current trend would also help (e.i. Aesthetic path-ways and light-post). Landscape frontyards and setting-up gardens could be considered.

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July 25 2007

Nicholas Taylor, "Nick Taylor"
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Nicholas Taylor, "Nick Taylor"

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Out in California, The main and the funnest one to have redone that brings in the most cash return is the *Kitchen. Then the *Bathrooms. Those are the real helpers when it comes to resale and getting your money back on your investment, plus you get to enjoy it yourself. But some other good ones are the landscaping, particularly the front for curb appeal. The roof and floors fall into a good one to have done if you can but only if you have the kitchen and the bathrooms done to an upgraded point.
But actually each area as in California has particulars that would be most beneficial to ask your Realtor about before getting the work done. Things that people shopping in your neighborhood want in a home from that area.

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July 25 2007

rodmanbob
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I agree with Nick, We upgraded the floors and the kitchen and more than broke even on our sale. They were the 2 things everyone commented on when they walked through. As the market gets tighter those are the things that will sell a home quicker than anything.

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July 25 2007

deborah matthews, "the broka"
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deborah matthews, "the broka"

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First of all depends upon the area, size and the budget for the project
$10,000 complete a great bath with warm earthtones and highgrade fixtures
$20,000 + complete the kitchen to provide a wonderful invitation for cooking
and family conversation
$40,000+ complete the masterbedroom great flooring, fireplace & Bath to include all the plus features for the adults to enjoy "after a day in the life "...double high end sink area, create spacious openess with natural light, doulbe shower stall with lots of shower heads, beautiful tile granite,glass, lighting and more .........i'm available to consult ;.)

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July 25 2007

Nicholas Taylor, "Nick Taylor"
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Nicholas Taylor, "Nick Taylor"

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For those people considering pools, go for it only if you know you will enjoy it and use it to get your monies worth, so make the family get out there and swim. But the one thing to consider with putting a pool in other then if you will enjoy it is.... What do your neighbors (future competition) have, and does the community already have a pool to it?
If the community already has a pool then your money for the most part would do best on the inside of the house, but if a pool would make you stand out in your community and you want one, have at it. I like Deborah's estimates, we just re-did our kitchen for about 35k and now we have our neighbors stopping in to get ideas.

Thanks for agreeing rodmanbob, and please feel free to ask Deborah or I for any resale -remodel tips, we?d be happy to help.

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July 26 2007

eweez2010
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Out in California, they are real hard on their kitchens and bathrooms, esp cuz they are from 1950s and not always the cool stlye . So they really DO have to renovate them. And there's lots of rentals out in CA too that tend to be hard on walls and carpets. Anyway, keep in mind several things:
- Not everyone likes stainless steel - just make sure the new appliances you choose are the right style for the home and fit into the expense of the neighborhood.
- A Granite countertop in an ugly house is still going to be an ugly house.
- If the house is ugly, repaint it, add a cute porch, whatever you need to do to make something appealing about the house.
-What will be water and maintenance costs for pool?
- Don't put in a dinky pool that is a poor excuse for a pool. If that is all the room you have (or $) then forget it and plant some pretty flowers.

I believe that at some point in time....it will be more important for most of society to have a house PAID OFF than new upgrades and stainless steel. How would our grandparents have lived through their last 20 years if their house had not been paid off? Think about your future....

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July 28 2007

lucydjacobs
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If the bathroom in the basement is the third bathroom, then don't bother.

Most buyers would rather have two great bathrooms on the main floor (the ones they use every day and visitors will see) than two grungy ones and a third one in the basement when nobodwants to shower down there.

But if it's a one-bathroom home, then yes, your best investment would be to have a two-bath home. Most buyers prefer to avoid the inconvenience of having no working toilet in a home for a weekend after a kid flushes down a toy and the plumber can't come around until Monday. So they will take a two bath and a nice kitchen over a gourmet chef's delight and just one bath. Or that's how it is in the two kid, two pet, soccer mom world where I live.

No reason to add a loft or an attic master bedroom or another room if you already have three bedrooms and two baths - and if the main rooms need work. Do the main rooms first. Make sure the kitchen looks clean - you can go white paint and use white appliances and it will sparkle even without stainless if you have to cut corners there to make the bathrooms look new.

If you have a bonus room near a guest bath, add one closet system and doors against the short wall and, in most states, that allows you to call it a four bedroom.

Mainly, buyers who are families in mid-price ranges want a home that looks clean and sanitary over a ramshackle place with more rooms but more work ahead for them or embarrassment when guests stay and are horrified by broken tiles or ripped vinyl.

Make sure the other bathrooms are in great shape - no hairline cracks in tile or the home inspector will point it out as possible mold problem and support beam problems, and buyers will freak and back out. In fact, it might be worth $300 to $400 to pay for a house inspection to be able to make it a priority of what you need to do. Would be a shame for you to tile or put up new drywall, then have to tear it out to replace pipes or wiring

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July 29 2007

GollyGeee
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Finish off the basement. This is your absolute lowest cost per additional square foot increase.

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July 30 2007

Rob Robertson, "Mortgage Broker"
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Rob Robertson, "Mortgage Broker"

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Dave, if your property is in the Seattle, WA area, I would recommend talking to a local real estate appraiser (vs. a local realtor/agent) to find out what improvements would get you the "most bang for your buck" based on your local market conditions against the list of improvements you are wanting to have done.

I personally have upgraded my owner occupied home over the past 14 months (in Southern California). The first person I spoke with was my appraiser.

She was able to go over what the local market accepts for improvements such as inground swimming pool, RV Access (vs. none), estimated dollar values for adding square footage (we added 145 square feet simply by adding on to our existing lost and closing off the vaulted ceiling area), concrete patios, etc...

This gave me a ball-park estimate for what I could expect my property value to be after the improvements were complete vs. not doing them at all, subject to marketing conditions.

Best of luck to you!

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July 30 2007

VnVRealestate.com
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VnVRealestate.com

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http://www.myfinancialconnections.com/VNVInvestments

See this remodeling!

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August 04 2007

mcfriendlyosx
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Lots of great suggestions but in the end it comes down to how much money and time do you have to put into your property.

My choice in ORDER of $:
CLEANING everywhere..... dirt is a turnoff (including rugs, floors, windows, no trash, etc.) NO MOLD!
Eliminate massive furniture - (no matter what the square footage less furniture will make your house seem bigger.)
Make any repairs to basic infrastructure (no leaks anywhere, no bare wires, everything works!)
Upgrades to bathroom(s) - perhaps a new vanity or replace counters with cheap granite.
Work on curb appeal - water plants (buy some!) pull weeds, fix cracks, paint front door and trim, replace locks if old and worn.

MOVING ON TO THE $$$$ ITEMS

Replace master bathroom fixtures if necessary (a bathroom remodel costs between $3,000-15,000+)

Replace any worn flooring (sometimes cheaper to refinish hardwood floors if available.)

Work on the kitchen (paint cabinets, replace faucets, replace counter tops), etc.

I really agree whatever LOST SPACE in the basement that can be reclaimed as living space at a reasonable cost should be considered.

LAST THOUGHTS....

Don't push yourself deeply in remodeling debt. Given the current status of real estate you might actually loose money.

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August 09 2007

Nicholas Taylor, "Nick Taylor"
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Nicholas Taylor, "Nick Taylor"

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mcfriendlyosx- Well said. In my experience a good remodel on things you can afford will do you good but it is best to do it when you have the time and money, which all of our lives are busy enough. But a good scrub down and de-clutterizing can do wonders, also its hard to go wrong when selling your house to gave a paint touch up, buyers really notice that. Over all you want your house to feel like you like living there and your proud of it when you are selling it because buyers can tell if you do and that can make up their minds right then and there, just by how the house makes you feel. Remember it is the little things that count.

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August 11 2007

rayebee
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Clean, paint, fix the roof and any other structural problems. Make sure all the mechanicals work. Then do the floors.

Don't shell out for granite. Too expensive. If the laminate looks bad, consider replacing it with butcher block.

If the cabinets are dark and look like they're from 1970, I'd sand and paint them and replace the hardware.

If the appliances are rusty, scratched, in poor working condition, replace them. But don't shell out for stainless steel. Basic white will do. If your appliances are kind of retro-looking, some people really ike that. As long as they're clean and in good condition.

As for the bathroom, if you have those sliding glass doors on the tub, get rid of them. If there are little non-skid appliques on the bottom of the tub -- get rid of them. If your shower curtain has fish, or sea shells or anything cutesy on it -- get rid of it. Basic white works best. If the grout is yellowed or cracked, bleach and/or repair it. Hang fresh white towels and a fresh white curtain with metal rings, not plastic.

If you have wall paper borders anywhere in the house -- get rid of them. Keep it simple. Painted walls, contrasting trim. Neutral colors.

Lastly -- no stinky smells in the house. I recently looked at a property, and the minute you walked in the door you were hit with the smell of rancid cooking grease. The guy was a cook, and proud of it. But old onion skins, garlic and rancid tomatoes in the garbage can is not what I want to smell when I'm looking at a place. Take the garbage out. Clean the fridge. And if you must cook, bake a pie. It's much more appealing.

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August 12 2007

LaMontsells1
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Kitchen and Bathroom areas are usually where you want to invest remodeling dollars.

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October 02 2007

Mark Raso, "RealEstate4U"
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Mark Raso, "RealEstate4U"

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As much as the kitchen is important, curb appeal is key! If it doesn't have that, who cares what the inside looks like.

If you already have that, concentrate on the kitchen. For counters, forget the concrete (this will soon be a passing phase), forget the SS counters, forget Formica and forget Corrian (this will already date your house). Granite is still #1 and survives time and the trends.

Be careful when watching these real estate shows (A&E, HGTV) on how to add value. Many of these show I have found to be VERY misleading. Remember, they are their to entertain!

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October 04 2007

gary.katzenmaier
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You need to walk the property and look for missed opportunities. A space not being utilized fully like an attic or car port. A view being missed account of small windows. Updates that need being done especially in Kit/Bath rooms. Install high end in high end and ok in average. Sometimes picking out the single most irritating deficit (you probably already know it) and fixing it is good. Sometimes a complete demo is called for.

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October 07 2007

DebtsNMesses
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As I just said in another post... I would not update until right before I was going to sell. That way I do what's popular at the time and get the highest value. I would definitely have SEVERAL agents view my property, and I would also go look at other properties that agents state are 'updated', so I had a clear idea of what 'updated' means.

The recent house I bid on was devalued $50,000 for not having 'landscaping'. It did have landscaping, just not the same as the other homes.

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October 08 2007

lgraf
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I find leaving gold nuggets scattered about the house adds value and really sways a buyers interest.

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October 08 2007

Nelson Bermas, "EXITNelson"
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GO CHEAP! Pack up 2/3 of the house and buy some paint. CLEAN THE HOUSE and YARD! You do NOT get back 100% return on all the remodeling you do to the house except for a deck so why spend the money if you can't enjoy it. Unless the fixtures are very dated and in disrepair, start with the small stuff first (door knobs, light fixtures, kitchen cabinet hardware, etc, you get the idea.) KISS. Keep It Simple Seller. If that does'nt work go with what Igraf said above.

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October 09 2007

onetwosixdesign
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There is a never ending list of things you can do to improve your property value, but you also have to make sure the ROI make sense. Pouring 10's of thousands into a new roof or newÂ sewer line, can you really get that money back from the selling price?Â
The cheapest, best ROI things you can do:
- Paint (inside and out), keep it neutral and light. A fresh paint can do wonders to your curb-appeal, and make the inside look grand and new
- Clean, the bathroom and kitchen must be spotless, these are the deal maker/breaker of a home
- De-clutter, remove everything you haven't used in awhile, keep the counters and tables cleared
- Stage, hire home staging professionals, or at least watch lot of HGTV and do your best, remove personal photos, magnets on the fridge, excessive religious decors, etc... presentation is everything!

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