When it’s time to improve your home, ask yourself if the improvements you’re looking to make are a good investment. Will they add value to your home or will they end up costing you more to create than you can sell it for? Not all improvements improve home values, and that’s something a local realtor can help you determine. Your realtor can help you decide whether the improvements you’re making are adding value or not by checking local comps, by considering the market in your area, and by providing you with real-time information. There are some improvements, however, that almost always make your home more valuable.
If you’re looking to add to your home or to convert your existing garage into living space, you must know what this does to your investment. Adding garage space to your home or by purchasing single car portable garages often entices buyers. People want garage space for several reasons including protecting themselves from the weather when they come or go, and they really like additional garage space for their toys. Cars, boats, lawn equipment, and even children’s toys are important enough they need to be securely stored.
If you want to convert your existing garage to living space, think again. This is almost always a bad idea, as buyers want garage space over additional living space. If you’re converting your garage, it might not add value to your home.
Your kitchen almost always benefits from an upgrade. You can add solid surface counters, new cabinets, backsplash, and upgraded appliances to attract buyers. The kitchen is the heart of any home, and finding one that’s open, airy, and bright with modern features almost always gives you a great return on your investment. Just be sure you’re not overdoing your kitchen compared to other kitchens in your neighborhood. An upgrade is one thing, but a major upgrade can hurt the return on your investment if the comps in the area don’t support your choices.
Everyone loves a luxurious bathroom, and that applies to almost any house. Upgraded shower tile, faucets, and soaking tubs are always popular. The bathroom is another space in which homeowners spend a lot of time. Make the most of the space, add upgraded fixtures, and always be sure to add a second sink in a master bath if space allows. Buyers sharing a bathroom with their spouse want to know they have their own space and their own area in the bathroom, and this is an investment that always adds value.
Before you make any changes to your home, ask yourself if the changes are valuable or if they are a waste of money based on other homes for sale or recently sold in your area. Ask a real estate agent for advice if you can. They can help you figure out where to best put your money, so you see it and then some come back if you ever decide to sell your home.