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Best choice home improvements

By Edited Nov 13, 2013 0 0

Best choice home improvements

What improvements should you make to get your loan?

Many home owners would like to find out the best choice for home improvements to increase their home value. In this article, I'll tell you the best home improvements and the reason they are the most important.

One of the best returns on your investment is a kitchen remodel. But make sure that the rest of your home is maintained properly before you begin updating your kitchen. This is because if you are trying to get a loan, and the roof is damaged, the paint is peeling, the floors are ruined, chances are that the appraiser or the bank will have you fix all the items in the home before you get your loan. This will cost you money and time. So while a kitchen remodel is good, maintaining your home may be better, especially if you'd like to get your loan.

Updating or remodeling a bathroom is one of the best improvements to increase home value. But the same advice goes for the bathroom as the kitchen. Make sure the rest of your home is maintained properly. secondly, if you are planning to move your bathroom from one side of the room to the next, don't be surprised if your home value does not improve. This is because your home still has one bathroom. This is especially true for newer homes. I appraised one home that used to offer a bathroom on one side of the bedroom. The owners decided that they would like the bathroom on the other side of the room. This improvement cost over $20,000 and included changing the roof line, plumbing and all the fixtures. When the improvement were completed they still had a newer home with two bathrooms on the upper level. Don't make this mistake.

In conclusion, maintain your home first. Make sure that your home is painted and that there is no peeling paint. If the roof is damaged or at the end of its economic life cycle, replace the roof, but not until then, make all minor and major improvements to the above ground areas of the home first, don't worry about sheet rocking the garage, as this will not impact the value of your home, significantly.  The basement should be updated only after the main level is how you'd like it. Sometimes, added egress windows in the basement is not of value. This is because the appraiser will determine your home value by the above grade square footage first and the basement second. So many of the improvements may not be given as much value and it will be more difficult to support the value because of the data from the MLS system is not complete and/or difficult to determine.  Next, you can update or remodel the kitchen and bathrooms.

 

 


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