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Home Value - Increase the value of your house today

By Mary Thomas BH,MB,HB, PV, Estates LA+

Real Estate Agent with Remax Estates Properties DRE #0892215

April 29, 2008 06:23 AM

Increasing your home value is such a "open-ended" term because one persons treasure can be another persons nightmare. For example adding a swimming pool in the back yard can easily be viewed as a "Wow" factor to someone who loves having a pool and can afford the maintenance of owning a pool. However, to another person it may appear as more of a burden and a safety issue which will decrease the value to that buyer. Some clients are just dead set against a pool. They see it as a extra monthly expense and if they have small children they do not want to risk the danger. It is very interesting how each client views upgrades depending upon their likes and dislikes.

Property Maintenance Will Increase Your Home Value

The best way to increase home value is to treat it like an investment and maintain the property as often as possible so that it does not become a huge expense when you plan to sell or get an appraisal. Simple inexpensive maintenance items include painting; carpet cleaning; re-caulking; replacing broken items; power washing; etc. The best rule to apply is if it is broken, fix it right away, so that you are protecting your investment. I am surprised to find that most Homeowners are not aware of the Home Protection Policy that they can place on their home for a nominal fee. Even if you have a do it your selfer living with you, Placing a home protection on your property is worth it's weight in gold.

The cost of letting things go and not properly checking your home can cost you not only huge repair cost but if you have to sell due to a relocation or health issue it seriously decreases your investment. Every dollar that is spent properly in your home can add considerably value to your home. Always consult with a Realtor before spending any major dollars improving your home. I can not tell you enough that bad floor plans,upgrades or size of remodel can decrease your homes value instead of increase it. This is a serious mistake homeowners make when not consulting with a Realtor prior to improvements. Contractors are not necessarily the best experts on what will increase your homes value in terms of floor plans, amenities etc..Realtors have the expertise for that. If you love it and you are not looking for a return on your dollar that is fine as long as you do not see selling your home in down the line. Otherwise, be careful.

Your Home Value May Increase By adding more square feet

Increased home value can be achieved by adding size (square footage),bedroom, bathrooms dining rooms or family rooms.

Licensed appraisers or Realtors are going to find out your square footage, number of bedrooms and number of bathrooms and compare it to similar houses on your street, in your neighborhood or your zip code.

You do not want to over build for a neighborhood unless you do not plan on selling in the future. You may not see a return on your investment if you overbuild for the neighborhood. Feel free to search for a professional to make it look professional and remember the time you would take on the project needs to be accounted for overall value in your house. Time is money.

Bath

Getting A Return On Your Home Investment

Access your time frame of ownership of the home prior to making major improvements. Again, consult with a Realtor for market conditions and help evaluate when you plan to sell what will work for you best. For example if you are going to finish your basement, privacy fence or add a sun room off the kitchen area and the cost of these projects is $25,000.00-$50,000.00 and you are not planning to sell your home for a while then you will see a return If you spend that kind of money and are moving within 2 years you run the risk of not getting a return on your investment but you do it for your own pleasure.