It’s a
booming sellers’ market in Michigan, and many homeowners are looking to take
advantage by making their homes more attractive to prospective buyers. Others
are making home improvements they can enjoy now, with the hope of increasing
the value of their home to sell in the future.
On average, 33 percent of home shoppers are
more likely to buy a home that has been recently renovated, according to HGTV.
Even if you’re not ready to sell, you might
want to consider developing a home improvement strategy that will help you get
the most value out of your home in the future. Here are some ways to fix up
your home to add value:
Bathroom- If you’re
looking for a guaranteed way to get a high return on your investment, consider
remodeling or even adding a new bathroom to your home. A bathroom project
costing $13,000 can add $11,000 to a home’s asking price, which ends up giving
you an 85 percent return on your investment (ROI).
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A new kitchen can add a 100% return on investment if done right. Photo: This Old House |
New Deck- It’s every
homeowner’s dream to have a comfortable, inviting deck space for entertaining,
especially in the summer. New decks are not only great for the homeowner in the
short-term, they’re also good for adding long-term value. According to
CNBC.com, a new deck costing $15,000 can add about $11,000 to your home’s
asking price, an ROI of 73 percent.
Exterior Facelift-
Whether you choose to spend on landscaping, paving your driveway
or even adding smaller items like shutters to your home, fixing up the exterior
can pay big dividends both for adding appeal to prospective buyers and your
personal mood when arriving home each day.
According to Bankrate.com, a good first
impression can add 5 to 10 percent to the value of your home.
Kitchen- Quite
possibly the most popular home addition, a kitchen can add a 100 percent return
rate if done right according to TLC.com. It’s important to stick with a central
theme, color pattern and style when remodeling a kitchen to make it an inviting
place. Adding a window over the sink or an island counter space are also great
ideas that yield returns.
For more information on how to obtain a home
equity loan from Community Financial to make the improvements you’ve always
wanted, please stop by any of our eight branches or visit this
link.
Great blog!!
ReplyDeleteThese tips are important if you want your home sales in good price.As real state is going down ,so home improvement is important so that your home look beautiful.It improves your home
and also its value market.
Northern Virginia Home Improvement