Home Improvements Paying Off Well?

By
Real Estate Agent with Re/Max 10 New Lenox Illinois

Home Improvements that pay off well, but first Frankfort homes listed out of my office currently available …

 

10353439 19938 Sycamore Dr $224,900 8 rooms 3 bedrooms 2 baths Raised Ranch

10367068 430 Butternut Trl $349,900 6 rooms 4 bedrooms 2.1 baths 2 Story

10122786 554 Aberdeen Rd $375,000 11 rooms 3 bedrooms 4.1 baths 1.5 Story

10358169 22532 Autumn Dr $409,900 10 rooms 4 bedrooms 2.1 baths 1 Story

10322715 22420 Crimson Ln $414,900 11 rooms 3 bedrooms +1 in bsmt 3.1 baths 1 Story

10325682 965 Oak Ridge Ct $489,900 12 rooms 5 bedrooms 4 baths 2 Stories

 

eTrust Mortgage Corporation - Gene, thanks for sharing Home Improvements That Pay Off in your e-blast to me.  Here is how to reach Gene for all your financing questions ... 

Gene Walters, HomeTrust Mortgage Corporation,

1475 E. Woodfield Rd Ste 110, Schaumburg, IL 60173, gwalters@hometrustmortgage.com
Office: 847.517.1700 Cell: 847.217.7030,

NMLS#: 204173 NMLS: 134317, An Illinois Residential Mortgage License

 

Gene shares "In the housing market, some home improvements pay off by increasing your home's value, while others will do little to improve resale.  In general, updating your kitchen and bathrooms are always a good investment, as these improvements yield the highest rate of return."

 

Kitchens – "The kitchen tends to be the most important room in the house.  The average payback on improvements to the kitchen range from about 80% to 200% depending on the age of the current kitchen and the overall condition of the rest of the house.  Some good ideas: New tile flooring, refacing old cabinets, and/or updating appliances to new energy efficient models."

 

Bathrooms – "Bathroom renovations can yield a return of about 85% to 200% depending on the age of the current bathroom and the overall condition of the rest of the house  - even higher if you only have one bathroom to start with.  And since many homebuyers today won't consider a home with less than 2 full bathrooms, adding a second bath can make your home significantly easier to sell.  Some good ideas: Double sinks, tile floors and new bath fixtures and faucets."

 

Other Improvements That Pay Off

"Home improvements that bring a good return on your investment can be a big undertaking.  Larger improvements could include adding a fireplace, building a deck or a patio, or adding a new heating or cooling system.  However, you don't have to spend huge amounts of money to upgrade the look of your home.  Smaller, less expensive improvements could include replacing old doors or installing a ceiling fan.  Cosmetic improvements can also go a long way in the minds of future prospective buyers."

 

Home Improvements To Generally Avoid

"There are some improvements (like adding a swimming pool, for instance) that rarely pay off.  These improvements are fine if you and your family will really enjoy them, but keep in mind that they rarely increase the value of your home.  In some cases, they can even contribute to making your home more difficult to sell."

 

One last piece of advice

"Don't get too fancy.  Everyone's tastes are different, so choosing colors and materials that appeal to a broad range of people will make it easier when it comes time to move."

 

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Topic:
Home Selling
Location:
Illinois Will County Frankfort
Groups:
RE/MAX Active Rain Bloggers
Real Estate Trade Secrets
Twealtors
RE/MAX in Illinois
National GRI Alumni
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home improvements paying off well

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Rainmaker
2,851,252
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Dale.

I know my wife has three rooms that must meet her expeciations, in order, the living room, the kitchen and the master bedroom and bath.  

May 13, 2019 02:03 AM #1
Rainmaker
1,590,383
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Knowledge is King. Thank you for sharing this with us. Have a great week!

May 13, 2019 08:53 AM #2
Rainmaker
4,038,002
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dale, some improvements pay off better than others, and never expect the full amount to appear on your bottom line! 

May 19, 2019 09:44 AM #3
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Rainmaker
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Dale Taylor

Realtor = Chicago Illinois Homes Townhomes Condos
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