Will the Home Improvement upgrades give me trun vaule

Two homes in Silver Spring , MD have been purchase . There both codo in the city. Good schools and stores, but one condo has every upgrade covered. The Lender price both homes with a +5000 for the Hollywood Up Grade. I see the condo at +20.

  • June 23 2010 - Brooklyn
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Answers (5)

Profile picture for Gracesellhomes
Do you mean the apprisial price? Yes! the upgrades will help the value. How much will depend on the market.
  • June 23 2010
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Profile picture for ABBAUSA
Upgrades to any home adds value.

Almost never is there a 1 for 1 value.

Baths add 85%, Kitchens add 75%  and all other less.

The above are rough estimates and only in viable areas.

In a depressed market, add for your enjoyment and future value.

Good Luck!

James Callas - Realtor®
  • June 24 2010
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Profile picture for Kent Richards
Not all remodeling upgrades give the homeowner a better sales price. Kitchen and bath upgrades can give you a better return than other rooms of the home, but sometimes, the house simply needs to be brought back up to the neighborhood standards. Also, check square footages, and position where condos are located. First floors are always higher priced.
  • July 05 2010
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Most home upgrades will ad value to your home but your location affects the amount contact a local agent for more a more precise estimate.

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  • July 14 2010
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Profile picture for openup
There are different kinds of value, one where the improvement improves the quality of your life and enjoyment of the space. And then there is the most common reason people remodel. "The hope of getting something for nothing" ie: make the improvement, enjoy the benefit, and pass the cost onto the next buyer.

In this market if you are planning on staying in the home for a long period of time. Make the improvements that make you happy. If planned to sell the home in a few years, i would consider the improvements carefully.

Though the improvement may make you home more marketable, it may not add the value you need to recoup your investment.
  • July 22 2010
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