Home Improvements that Pay
Which home improvements give the best payback?
If you’re thinking about remodeling your kitchen or putting in new flooring, you want to be mindful of a few factors to ensure you get most or all your investment back when you go to sell your home. Keep in mind the following:
Appraisal Value
The intrinsic value of home improvements may be different than what an appraiser will value them at.
Market determines demand
The current market will determine the overall demand for your home, so it is important to talk to a Realtor before taking on a larger project.
Neighborhood
Study your neighborhood standards and do not over improve your property.
Neutral Pallete
Do not make improvements that are too specific to your tastes unless you plan on staying in the home for a long time. It is better to go with more neutral palette to appeal to a wide range of buyers in the future.
Cost Savings
Research the cost of the improvements. If you can do the work yourself, you can save significantly on the cost of the project and greatly improve the chances of getting a good return on the investment.
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