Want to know more about the different types of home improvements that can help to increase your home resale value? If so, continue reading to learn more about 3 of the most common types of home improvements that increase home value, including: home repairs, curb appeal and safety upgrades.
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Home Repairs
The condition of your house figures strongly into the appraisal value. If you want home improvements that increase your home’s property values, invest in the condition of your home’s major systems and components. Therefore, a new roof, windows or new exterior siding will be positive factors in the equation of an appraisal. According to Mitra Kalita in a Wall Street Journal article titled, “Ten Tips for High Value Home Appraisals,” appraisers tend to think in terms of $500 increments when calculating values. Therefore, if there is an obvious repair more than $500 that has been neglected, this will count against the value of the house.
We have all seen homes that have been “flipped” to make a quick profit — some more successfully than others. Here, we are looking at appraised value more in terms of making sure your remodeling project includes elements that will increase it while you accomplish the goals that are specific to your family or project. Renovations can be too individualized or too elaborate to recoup your investment dollars. In addition, funding for renovation projects will often depend on the value an appraiser sets on your revamped home or on its future value based on the construction documents. Source: DeseretNews
Curb Appeal
Items that add curb appeal help the property to look good when prospective buyers arrive. While these projects may not add a considerable amount of monetary value, they will help the place sell faster. Curb appeal items include a nice green lawn, attractive landscaping, fresh paint inside and out, new carpet and new appliances. If you know that a prospective buyer is due to arrive at a certain time, baking an apple pie just before the arrival is an easy way to set the stage, make your house smell good and create a warm, inviting atmosphere. Source: Investopedia
Safety Upgrades
Focus on basic safety upgrades. A simple renovation that consistently earns almost the entire investment back is replacing your front door with a steel-reinforced door. Similarly, replacing an old garage door with a sturdier model will yield an almost 100 percent return. Potential buyers enjoy the safety and security offered by these inexpensive upgrades. Source: wikiHow
Contact:
Kerrisdale Roofing & Drains Ltd.
168 W 71st Ave, Vancouver, BC V5X 4S7
(604) 360-2114
