Balancing Home Improvements with Resale Value icon By Susan Quilty Home improvement projects let you create your ultimate dream home. You can choose every detail from upscale flooring and designer cabinets to sculpted faucets and specialty drawer pulls. However, your home is also a major investment which you may eventually want to sell. How do you strike a balance between personal style and universal appeal? Understand Your Motives When planning home improvements, it may help to consider your goals. How much longer do you plan to live in your home? Are you primarily remodeling to improve your resale value or are you more interested in creating your dream home? If you plan to move within a few years, its best to focus on projects that are shown to have a high return on investment. Consider Your Neighborhood Having the nicest house on the block can be a source of pride, until it comes time to sell. Your homes resale value is partially based on its location and recent home sales in the area. Its fine to bring in a bit of luxury, but also try to keep your home consistent with the rest of the neighborhood. Choose Where to Spend Your Money Staying under budget is a challenge of any remodel. To stay on track, and maximize your return on investment, be careful about choosing upgrades. Granite countertops are a selling point, but paying extra to give them a fancy beveled edge wont increase their value. Skip Trendy Upgrades Watching for common home trends, such as spa-like bathrooms or gourmet kitchens, can help you choose improvements that will add value to your home. But it may be best to skip trendy design fads, like skinny tile backsplashes or mismatched cabinets. Instead, look for timeless designs that you can personalize with accent pieces and accessories. Avoid Unusual Customizations You may not like to cook, but switching out your stove for more kitchen cabinets would likely be a problem for the next person to buy your home. Avoid unconventional remodeling that wouldnt work for most people, or plan to lose money when it comes time to sell. Upgrading your home is a great way to make it your own, but dont sacrifice its resale value in the process.
Posted on: Thu, 04 Sep 2014 15:30:38 +0000