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 One important way to build
equity is through home improvements. Besides adding appeal and comfort,
you may enhance your home’s value--but only if you know which improvements
will be of the greatest value at the time of resale. The following list of
home improvements should serve as a guide when you consider making
renovations or additions. (Percentage represents how much of your investment that can be expected to be recouped at resale. These are calculated estimates and vary upon locale and trends.) 100%-50% Remodeled Kitchen A kitchen update can reward you with a sizable payback. Just remember, splurging on fancy finishing materials or sophisticated equipment may cut your profit. Keep it simple. 75%-100% Revitalized Landscaping A healthy lawn and a modest but colorful flowerbed will entice potential buyers. The few hundred dollars invested may yield several thousands in profit in terms of “curb appeal.” 70%-100% Fireplace Especially if it’s energy-efficient, like a gas-powered model, a fireplace holds the promise of |
cozy family
gatherings around the warmth of the hearth. 70%-90% Second Bath All it takes is a simple second bath to make mornings more civilized for most families. This is not considered an extra today, but a necessity for most buyers. 65%-80% Additional Room For the most attractive return of your investment dollars later, the added room should be today’s popular family room or an additional bedroom. 60%-80% Remodeled Bathroom A master bath is on many buyers’ wish lists, so invest here. If you own only one bathroom, install two sinks or a double vanity to handle the morning crowd. 50%-70% Deck Outdoor living space is a desirable asset no matter where the locale. Non-maintenance decking material leaves more leisure time. 25%-40% Finished Basement This is a great way to gain added living space without building a costly addition. If the basement has an access door to the outdoors, the project becomes even more valuable. |
