What is the best improvement you can make on your home?

Question

This one might be bet for the appraisers out there. What is the best improvement you can make on a home/property?  New Bath / New Kitchen / New Bedroom?

Also, what is the worst.  Someone once said pools were bad investments, but I don't get why.  Anyone?

N/A N/A · Answer

I wanted to know what improvement is the best to raise the value of a property when the time comes to sell it.

Are there any appraisers who could give a professional answer here?

Account Closed · Answer

Most improvements can only add value.  As someone mentioned above, adding a swimming pool may not add much value to a home.  Some people will add lavish ponds, fountains or spend a bunch on landscaping, etc.  As long as the yard looks nice (trimmed) and clean there is no need to spend extra money on these type of things when you are going to sell.

If the house is old and is wood - adding siding can make it look tremendously better and raise the value significantly.

Do you have any ideas that you are concerned about?  I would be glad to give you my opinion  :D

Account Closed · Answer

If you are looking to be able to list your home at a higher price (but not way off the markets price), a few things you can do that make a difference without spending thousands of dollars are:

Fresh paint (in and out)
New Carpet, flooring (tile, wood laminate, etc.)
New Fixtures (ceiling fans, lights, kitchen and bathroom fixtures).
New Blinds or window treatments.
Paint Kitchen Cabinets - or buy new.
New Appliances

Little things like this can make a big difference, especially in an older home.

Good Luck.

Eric Wang · Answer

Like any business, location matters.  Whatever you decide to spend your money on, don't forget the landscape, if your grass is yellow, replace with new sod.  You can have a nice house with fancy upgrade, but without curb appeal, how you going to get buyers in the door.

Account Closed · Answer

I think the best home improvement is to improve the roof.

Charles Whitaker · Answer

Everyting I have ever seen involves location and market. below are a few good links for costs vs recoup value of the major components that are typically replaced/remodelled.

http://www.realtor.org/rmomag.NSF/files/Cost_vs_Value06.pdf/$FILE/Cost_vs_Value06.pdf

http://money.cnn.com/2005/12/27/real_estate/buying_selling/remodeling_returns/index.htm

Deyano M. · Answer

kitchens and baths are where buyers look. Adding a bath will most definitely add value. Especially when there previously was only one- add another and your investment is in a whole new category- it will attract new buyers that only are looking for homes with 2 or more baths etc.

The best bet is to think as you would if you were buying the home to live in- what would you want with the space given...

Jim & Michele Wilcox · Answer

You asked - "what is the best improvement to make on a house" - you might clarify and ask to what or whom is this improvement is helping or motivating.

It depends on what you are after. If you want a higher appraised value out of a house - then do improvements an appraiser might like.

If you want to sell your house quickly to a buyer - make improvements that are WOW factor improvements.

We as investors don't sell to appraisers so why not make improvements that will sell your property to buyers.

N/A N/A · Answer

Tough question.    You have to look at adding value in two ways.  The first is actual appraisal value in which square footage and general appearance is king.   The other are items that will sell a house faster or make it more appealing.    Both will make you more money.

You also have to consider your competition.  Why put in granite if other houses in the neighborhood only have laminate.  Why add a 4th bedroom if the rest only have 3, and why install hardwords or ceramic if the other have wall to wall and vinyl.   Make sure you our not out pricing the neighborhood.  The best bang for your buck is making it clean and liveable with no noticable defects.  You would be amazed at how simply putting in shiny new hinges and door knobs will affect a buyer.

As for pools, having a pool here in Atlanta reduces your potential buyers by 99% so the house is going to sit much longer, much longer.  Most people do not want to deal with the time it takes to maintain or the costs.  Then there is the financial aspect and liability issues.

Anthony Sulecki · Answer

I hear adding a deck or porch does some for the value, and it doesnt have to be that big. Especially if its overlooking water, or a nice garden/outdoor area etc. Being a porch dweller myself, I have to agree. I grill outside on my porch 4-5 times a week in the spring/summer months.

You can have a deck put on for about $1,500-$3,000 in this area, and I've heard it can add $8,000-$9,000.