Home Improvements

Are you considering making improvements to your home? Some improvements will add value to your home, increasing its resale value, while others will not add significant value to your home. If your goal is to add to your home's resale value, then there are several home improvements that you should consider above others. These include kitchen and bathroom remodeling, as well as adding architectural features to your home such as a fireplace, deck, or patio. The improvements you decide to make should offer a large return on your investment; in other words, your improvements should be significant enough to motivate potential buyers to be willing to pay more for your home in order to recoup the cost of the improvements.

The kitchen is often considered the most important room in the house, as it is where much of the family's interaction occurs. The return-on-investment of kitchen remodeling is usually 80-93%, with the average cost beginning at $15,000. The simplest kitchen improvements include re-facing existing cabinets, adding new tile flooring, and replacing appliances. Obviously, the easiest change to the kitchen is changing the look of the cabinets. Something as simple as painting and changing the hardware will vastly improve the look of your cabinets. Cabinets can also be completely replaced by buying pre-fabricated cabinets from a home improvement store or by having them custom-made to your specifications. Replacing the countertops will also improve your kitchen's looks, with a price tag ranging from $10 to over $100 per square foot. A variety of countertop material is available: laminate, ceramic tile, solid surfacing, stone, and engineered stone. Replacing countertops often includes replacing the sink and faucet, two simple renovations that add to the aesthetics of your kitchen. Kitchen sinks come in one-, two-, and three-bowl configurations and include materials such as stainless steel, porcelain over cast iron, solid surfacing, and natural materials such as quartz. Since even the most basic of kitchen improvements will add to the value of your home, it is worth your time and money to make those improvements.

Bathroom remodeling also offers a high rate of return on your investment, up to 90%. Projects such as retiling the floor and replacing the vanity will add value to your home, as will completely replacing bath fixtures. Some of the more common improvements include replacing the fixtures to include a standard-size tub with ceramic tile surround, solid-surface vanity counter with double sinks, recessed medicine cabinet, and ceramic tile floor. Other improvements, such as adding a bidet or a separate glass shower, can add more value, but make sure the return-on-investment in your area of the country is worth the cost of these upscale improvements.

Adding architectural elements to your home is another way to add resale value. Adding a 16x20-foot deck of pressure-treated pine is a good investment, as is adding a fireplace or replacing siding. Increased storage in one room, such as a master bedroom suite, may open up valuable space in another area of the house. Although these improvements do not add as significantly to the actual monetary value of the home, they do add to the overall quality of life of the homeowners by increasing their comfort and improving their physical and mental well-being. 

Although the homeowner can estimate the return-on-investment, it's important to remember that many factors affect the cost of remodeling as well as the resale value of a home. Return on investment depends upon the value of the house itself and the value of the houses in the surrounding area. The cost of materials and contracting vary from one area to another as well. The homeowner must weigh the costs of remodeling against the potential resale value of his home to determine whether remodeling is a good option. Talking with a qualified realtor can aid in his decision.