Thinking of ways to improve your home’s value?

Whether you are planning to put your Bristow home on the market or trying to upgrade its aesthetics for a more comfortable lifestyle, remodeling or renovation is the way to go.

If only it’s that easy.

While it’s true that remodeling projects can increase your Bristow property’s value, not all projects can boost your home’s equity. Some projects have better ROI than others, and these are the projects you should be considering. So what are these projects?

Another thing you have to think of before leaping into any remodeling project is how it will impact your home’s resale value.

You may not be thinking of selling it now, but if you decide to sell in the future, how will the renovation impact your home’s price? Will it make the home more expensive and place its value higher than the other homes in the neighborhood, or will it simply raise the value but still remain within a good selling range?

To help you know which projects are best for improving your Bristow real estate property‘s value, and which are not, here’s a great article I found at houzz.com.

5 Remodels That Make Good Resale Value Sense — and 5 That Don’t

There is money well spent and money that’s not. Today we review which is which, prioritizing the return on your investment dollars

Good Resale Value

1. Kitchens. Updating a tired old kitchen is one of the wisest methods, and a tried and true one, of increasing the value of your home. When planning a kitchen remodel, and making design decisions and selections for plumbing fixtures, appliances, cabinets and countertop materials, you should determine whether you are prioritizing your own design aesthetic or the return on your investment.

Either priority is perfectly acceptable, but you should understand which is your priority, or strike a balance between the two that you can feel good about.

2. Adding living space. A straightforward addition of a new living room space is typically a very good investment.

Newly added square footage equals increases your home’s value. There are certain costs that will be associated with your addition regardless of the size.

3. Curb appeal. Your front elevation is more than just a first impression. It’s the only impression available to just about all of your home’s potential buyers.

The good news is that there are a number of very affordable projects that can improve curb appeal, and some more extensive improvements that can likely pay off as well. Simply cleaning out overgrown brush and making a few new planting additions to your landscape can go a long way toward improving curb appeal at a very low cost.

Repainting is another low-cost, high-impact improvement. Costlier changes such as changing out old windows or an aged entry door are things that potential buyers will notice and value. Even more extensive front-elevation remodels, such as added dormers and front porches, can prove wise from an investment standpoint.

4. Master suites. Sorry, kids. Home buying decisions are in the hands of adults, and adults care about the environment where they sleep. Updating a master bedroom or remodeling and adding a new master suite is money well spent. The buyers will picture themselves living in their private space, and it’s of quantitative value when they like what they see.

5. Bathrooms. Home buyers notice bathrooms, and although all the bathrooms are important, a priority should be placed on the powder room and master bath, followed by a guest bathroom and any other secondary baths (the kids don’t need to know).

The same rules apply to a bathroom remodel as to the kitchen. Cosmetic changes are safer from an investment standpoint than modifications involving changed layouts or minor additions, which can result in inefficient expenses.

Poor Resale Value

1. Kids’ spaces.  Yes, if your kids have a climbing wall, the fantastic addition will probably lead to hours of fun, increased strength and perhaps even a sense of accomplishment for your kids. But there is no assurance your home buyer will feel the same way.

2. Pools. Backyard pools are loved by millions, and while this appreciation is well founded, they should be constructed for their many virtues that are not investment related. A pool might increase the value of your home but is unlikely to pay for itself, as some buyers will perceive the pool as a negative maintenance expense.

3. Wine rooms. The design is hip, original and flat-out awesome, and in a resale situation, the seller might very well get lucky and find a buyer who loves it as much as I do.

But the design wouldn’t appeal to someone who doesn’t love wine. Original designs rarely appeal to everyone, so when adding spaces to a home you know you will sell, consider how personal it is and if others will feel as strongly as you do.

4. Removing features. Do not remove features for investment reasons. If you never use the fireplace in your basement, removing it might make perfect sense to you and your family. Just make sure you understand that the next homeowner might wish it were still there, and the money you spent demolishing the fireplace and reworking the space will not be reclaimed.

5. Minor additions. Adding a few square feet — say, to expand a bathroom or secondary bedroom — is rarely money well spent.

The reason is simple. If you bump out a bedroom wall by a few feet, you might make that bedroom much more comfortable. That benefit alone might make it worthwhile in your circumstance. But the cost of all the added elements, including foundation, roof, framing and drywall, will result in only a small gain in square footage.

To read more on houzz.com, visit here:  https://www.houzz.com/ideabooks/48158905/list/5-remodels-that-make-good-resale-value-sense-and-5-that-dont