Tuesday, 17 November 2009 16:59
Maybe you have decided to stay in your current home and renovate or build an addition. The burning question is which home improvements will add value to your home if you decide to sell. Following are a few general valuations to consider with home improvement projects. Talk to experts in the home remodeling and real estate industry to get more in depth information.
Bathrooms – remodeling or adding a bathroom is a high value project. Expect to recoup nearly 85% of the cost of this project.
Adding Space – typically additions and basement or attic renovations can yield an 80% recovery of the cost when the home is sold. Living space is usually always a premium item in remodeling.
New Windows – if standard windows are used, expect to recover most of the replacement cost when selling.
Swimming Pools – rarely do you ever recoup much of the cost of adding a swimming pool due to the safety concerns of some buyers and the annual costs of maintaining a backyard pool.
Landscaping – is really only done for yourself. Prospective buyers seldom will pay extra for a lavishly landscaped house.