| There are two main reasons people take on home | | | | molding is relatively inexpensive to install but adds the |
| improvement projects: for their own pleasure and in | | | | wow factor to otherwise regular rooms. |
| hopes of increasing the resale value of their homes. | | | | So, what else is worth doing? You may have heard |
| As long as you spend time and money for the first | | | | that kitchens and bathrooms are what sell a house, |
| reason, you'll be okay. It's when you start thinking more | | | | and this is true, but don't think you have to spend tens |
| about the second reason that you may be in for a | | | | of thousands on a whole-room remodel. Getting rid of |
| disappointment. Even if improvements add value to | | | | outdated wallpaper or paint will help tremendously. Also |
| your home, few recoup the money they cost. For | | | | sand and paint/stain old cabinet doors to make them |
| example, a swimming pool, which costs tens of | | | | look new. Switch out the dated cabinet hardware for |
| thousands of dollars to install, adds little to no resale | | | | something stylish and modern. |
| value to a home. People are turned off by the | | | | Any time you can take dead space (i.e. an attic or |
| maintenance aspect, and parents with small children will | | | | basement) and turn it into functional space (i.e. |
| worry about safety issues. | | | | bedroom, office, media room), you stand a good |
| So, what improvements do add enough value that | | | | chance of recouping much of the money you invest in |
| you'll come close to making back what you spend? It's | | | | the project (85% of the cost returned at resale is the |
| the highly visible improvements that will help most. | | | | national average). |
| Unfortunately, the less visible ones don't impress. | | | | If your house only has one bathroom, you can recoup |
| Replacing the roof or furnace, while they may need | | | | about 90% of the cost by adding a second. (Adding a |
| doing, won't convince a home buyer to pay more. | | | | third gets you back less). |
| Likewise, new energy-efficient doors and windows are | | | | Landscaping can also improve curb appeal and |
| not likely to recoup the cost of installation (However, if | | | | salability of a home, but don't spend thousands on hiring |
| you are going to continue living in your home for the | | | | a professional (it won't increase the value anywhere |
| next few years, $1,000 spent on insulation and caulking | | | | near that much). Tackle landscaping projects you can |
| existing windows and doors can help you save on | | | | do yourself instead. |
| your energy bills). | | | | Keep this advice in mind before you open your |
| The biggest home improvement you can do to | | | | pocketbook to hire contracts and buy materials for |
| impress homebuyers (and make them want to pay | | | | massive remodeling projects. If you're going to spend a |
| more) is one of the cheapest. Paint. As long as you | | | | lot, make sure it's--first and foremost--for you and your |
| pick colors that will appeal to a wide audience--and | | | | family, with resale of the house a distant second |
| you do it right before you list (before it has time to get | | | | consideration. |
| mucked up)--you'll increase appeal. Likewise crown | | | | |