The Best Home Improvement Projects For Adding Value to Your Home

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Services for Real Estate Pros with Rentec Direct Property Management Software Tenant Screening
https://activerain.com/droplet/4dN4

I found this interesting infographic and wanted to share it with you. It estimates the value that an average remodel adds to a home.  I've generally analyzed home improvements based on how much of the money invested could be recouped if you were to sell the home tomorrow and this looks at it from a slightly different angle but still very useful for analysis.

Prioritizing and spending money first on basic home maintenance such as new; siding, roof, and windows will generally recoup your investment quicker than a major bathroom or kitchen remodel. A minor kitchen or bathroom remodel (under $15,000) however is still a pretty good return on your money at up around 90% ROI. When choosing what remodeling project to take on it is important to consider your neighborhood, you don't want to have the castle among the shacks. The value of your house should play a roll in the decision making process, a gourmet kitchen in an otherwise low end home, can actually detract from the rest of the house when it comes time to sell. The amenities your house has to offer compared to other comparable homes on the market is inevitably what is going to sell your home quickly or leave it on the market for months or years. For instance, if you have an older four bedroom one bathroom home don't remodel your one existing bathroom, your money is better spent adding an additional bathroom. 

Last but not least, if you are remodeling a home that you plan on living in for a while remodel the home in a way that you and your family are going to get the most enjoyment out of.  If the improvement is in a rental property consider how the remodel will improve rent-ability, curb appeal, and overall longevity of the home.  Resale value does not have to be the top priority all the time but just realize that when it does come time to sell your house someone else may not appreciate/value the swimming pool or Italian tile as much as you have. What do you think the most valuable home improvements are?

 

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Dulcey is a member of Rentec Direct who provides Property Management Software, tenant ach payment processing, Rentec credit, criminal, and eviction screening for property managers and landlords.

Learn more about tenant screening here:  https://www.rentecdirect.com/blog/category/tenant-screening/

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Rainmaker
147,508
Kathryn J.
Rentec Direct - Grants Pass, OR
Rentec Direct

A second bathroom!!  I am a girl that had to live with three brothers with one bathroom!  When my parents added another bathroom it was worth millions to me!!  I think adding improvements that are more necessities then nicities add more value in the long run.

 

Nov 12, 2013 10:29 PM #1
Rainmaker
45,912
Mary Kent
Five Star Real Estate - Grand Rapids, MI
Grand Rapids to the Lake Shore

Good morning Dulcey. I recently read that just updating your home's front door is the best home improvement to add value. Now that's something every one can do. Thanks for the infographic!

Nov 13, 2013 12:21 AM #2
Rainer
123,498
Dulcey Schuster
Rentec Direct Property Management Software Tenant Screening - Grants Pass, OR
Property Management Software

Kathryn, absolutely! upgrading a house to have the modern amenities and conveniences we've all grown to love and expect is worth a lot.

Mary, Curb appeal is very important when trying to sell a home, the first step is to get potential buyers in the door and if the home and landscaping are not aesthetically pleasing buyers may just keep looking. Great inexpensive fix!

Nov 13, 2013 02:24 AM #3
Rainer
4,660
Manual Tobias
Loan City Home Loans - Orangevale, CA

Hi, I appreciate the efforts you put in this article. I am sure each of the add value tips will help home owner to increase home values. The below is a new post on trulia related to creative and affordable home improvement . Thanks

http://www.trulia.com/blog/williamaiden/2013/11/home_remodeling_how_it_can_be_affordable_and_creative

 

Nov 26, 2013 10:08 AM #4
Rainer
243,474
Caroline Gerardo
CMG Financial - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Nice article found on Linkedin and followed here. Paint neutral and scrub until your arms hurt are best investments in my book

Aug 07, 2017 02:52 PM #5
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Rainer
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Dulcey Schuster

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