Adding Value to Your Home's Resale Price
Now that it’s 2012, it’s time to get a head start on selling your home.
Tax season will be upon us in no time now, which leaves an opening for
many homeowners to do minor upgrades and home improvements. There are
several upgrades that can be done to add more value to your home's
resale price to help it sell for more and faster than others in your
area.
How much is your home worth right now before upgrades? The market value of your home is only one important factor on a list of financial decisions you will make throughout your life, including refinancing your mortgage, estimating your annual property tax, borrowing against your equity, selling your home, estate planning, buying homeowners insurance, and other financial aspects. When selling your home, it can be tricky to figure out how much your home is worth. You will not need to factor in how much you have already paid into it for months or years; that’s irrelevant now. You will have to focus on the current market value of your home. Therefore, some upgrades may be in need.
Here are some upgrades and home improvements you can do to add value to your homes resale price. According to Remodeling Magazine, the top remodeling investments are:
Bathroom remodeling – could recoup an average of 77 percent of your investment
Small kitchen remodel – could recoup an average of 94 percent
Window replacement – could recoup an average of 68 percent
Home-office addition – could recoup an average of 69 percent
Deck addition – could recoup an average of 73 percent
Siding replacement – could recoup an average of 71 percent
Originally posted at: http://activerain.com/blogsview/2684640/adding-value-to-your-home-s-resale-price
How much is your home worth right now before upgrades? The market value of your home is only one important factor on a list of financial decisions you will make throughout your life, including refinancing your mortgage, estimating your annual property tax, borrowing against your equity, selling your home, estate planning, buying homeowners insurance, and other financial aspects. When selling your home, it can be tricky to figure out how much your home is worth. You will not need to factor in how much you have already paid into it for months or years; that’s irrelevant now. You will have to focus on the current market value of your home. Therefore, some upgrades may be in need.
Here are some upgrades and home improvements you can do to add value to your homes resale price. According to Remodeling Magazine, the top remodeling investments are:
Bathroom remodeling – could recoup an average of 77 percent of your investment
Small kitchen remodel – could recoup an average of 94 percent
Window replacement – could recoup an average of 68 percent
Home-office addition – could recoup an average of 69 percent
Deck addition – could recoup an average of 73 percent
Siding replacement – could recoup an average of 71 percent
Originally posted at: http://activerain.com/blogsview/2684640/adding-value-to-your-home-s-resale-price
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