Do Home Improvements Help To Increase Resale Value?

With the real estate market still looking sluggish

, people are looking for unique ways to improve the resale value of their homes. But does every home improvement project, end with an increase in the resale value of your house? There are some who rubbish the claim that these have a positive effect on the resale value and there are some who vouch for it. The truth lies somewhere in the middle of these extremities.

Home improvements if done reasonably can alter the resale value of your house slightly. There are a number of factors to decide before you embark on a home improvement project.

When renovating you house, to increase its resale value, remember to consider the area that the house is located at. The aim here is to renovate the house, to enable you to peg the value of your house at a rate thats not more than 15-20% higher than the value of the costliest home in your neighborhood. Doing so will lead to buyers looking for cheaper options. Also, compare the facilities that are available in the neighborhood, Vis a Vis your home. Go for something thats unique to your neighborhood. When you add a feature thats common in your area, you end up depreciating its value.

There are a few sure fire ways to increase the resale value. The central heating for example! Although expensive to install, this should attract potential buyers.

Another home improvement projects thats expected to reap benefits is to go for renovations that are likely to be fuel efficient. Bathroom remodeling projects are also great. An extra bathroom or an extra bedroom is also a very good option. You could also go for a garage.

The first thing that home owners should do when renovating is to spruce up the exterior facade. Landscaping your lawn, adding a few plants, repainting the exterior, cleaning up clutter although seem to be minor changes but can improve the look of your house drastically. Never go for projects that would decrease the number of rooms in the house. Spending on interior dcor too isnt a very good idea. The thumb rule here is to spend on practical things that would add to the smooth functioning of your home, rather than on luxury items that cannot guarantee assured results.

Renovating your home, solely to increase its resale value, isnt a wise decision. Instead go for projects that would add to the comfort factor in your home. The jump in its resale value would then be a natural outcome.

by: Mark Herrera

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