As home values plummet to about 35% of their purchase price only a few years before, many homeowners find themselves scurrying to find ways to increase their value in preparation for a sale or even a refinance. Home improvement is the way to go.
If your goal is to actually sell your home in the near future, there is a good chance that you won't get your asking price. You will need to sell at your home's new value. However, there are few options to consider in order to improve your home's value.
There are a few very important areas in your home that not only add more value than other areas, they demand constant attention to avoid what is called "functional obsolescence". Sometimes not upgrading a bathroom or kitchen can devalue your home over $25,000 in addition to the hit the entire real estate market has seen over the past two years.
Unless you just did a major rehab in these areas, there are always upgrades and improvements that can be made. Just adding stainless steel appliances can add value, and no matter how much you spend you are almost guaranteed to get every penny back. High faucets, deep granite sinks and recessed lighting can add even more value.
Actually, new sinks and faucets all alone can completely change the overall appearance of the area. Sinks and faucets are some of the fastest deteriorating items in any house, and some of the easiest and cheapest to replace. A new white sink and silver faucet in any bathroom can give it the sparkle it might need to attract someone's attention.
New sinks and faucets can completely change the mood and appeal of a kitchen or bath. If you aren't sure what's new or fashionable, check out your local home improvement center. There are so many new styles for every need. Cooks love the high faucets that enable filling pots right in the sink. Upgrade from a stainless steel sink to granite sink, and you are definitely on the right path!
Don't neglect the exterior of your home or the yard, either. Houses need to have curb appeal. They need to look gorgeous from the outside! No matter how perfect your house is inside, the outside can kill its appeal. Peeling paint, an old door, broken shingles, and broken shutters can turn off prospective buyers pretty quick.
Don't forget the outside of your home. If you do discover you need to sell your home, a dirty unattractive and weed filled yard can kill a sale. New buyers won't even be interested enough to come if the outside isn't in perfect condition. Simple things like painting or replacing the front door, washing windows, replacing shutters and painting the front stairs can help enormously.
Refinish the deck, or even add one! A new deck big enough to entertain on can add over $10,000 in value to any home.
If your goal is to actually sell your home in the near future, there is a good chance that you won't get your asking price. You will need to sell at your home's new value. However, there are few options to consider in order to improve your home's value.
There are a few very important areas in your home that not only add more value than other areas, they demand constant attention to avoid what is called "functional obsolescence". Sometimes not upgrading a bathroom or kitchen can devalue your home over $25,000 in addition to the hit the entire real estate market has seen over the past two years.
Unless you just did a major rehab in these areas, there are always upgrades and improvements that can be made. Just adding stainless steel appliances can add value, and no matter how much you spend you are almost guaranteed to get every penny back. High faucets, deep granite sinks and recessed lighting can add even more value.
Actually, new sinks and faucets all alone can completely change the overall appearance of the area. Sinks and faucets are some of the fastest deteriorating items in any house, and some of the easiest and cheapest to replace. A new white sink and silver faucet in any bathroom can give it the sparkle it might need to attract someone's attention.
New sinks and faucets can completely change the mood and appeal of a kitchen or bath. If you aren't sure what's new or fashionable, check out your local home improvement center. There are so many new styles for every need. Cooks love the high faucets that enable filling pots right in the sink. Upgrade from a stainless steel sink to granite sink, and you are definitely on the right path!
Don't neglect the exterior of your home or the yard, either. Houses need to have curb appeal. They need to look gorgeous from the outside! No matter how perfect your house is inside, the outside can kill its appeal. Peeling paint, an old door, broken shingles, and broken shutters can turn off prospective buyers pretty quick.
Don't forget the outside of your home. If you do discover you need to sell your home, a dirty unattractive and weed filled yard can kill a sale. New buyers won't even be interested enough to come if the outside isn't in perfect condition. Simple things like painting or replacing the front door, washing windows, replacing shutters and painting the front stairs can help enormously.
Refinish the deck, or even add one! A new deck big enough to entertain on can add over $10,000 in value to any home.
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