Home Improvement Projects That Add Value

Posted Jun. 2nd 2011 under Real Estate Tips

Can't stand that scary, cobwebby basement one more minute? Is it time to replace the pink and aqua tiles and porcelain in the master bath? Maybe you're sick of the curling, chipped vinyl floor, the tacky cabinets, and the cramped layout of your kitchen. Perhaps you're trying to convince your partner that the siding is sad and stucco would be stupendous. But your partner wants to build a deck.

What are the best home improvement projects to undertake? It depends on your goals and plans. Here are ten worthwhile home improvement projects.

1. Painting

If you're only going to do one thing, paint. Interior/exterior painting is one of the very few improvements on which you are likely to realize a profit.

2. Kitchen Remodeling

Typically one of the most expensive improvement projects, and you can quickly run up a huge bill. Careful planning and shopping will help minimize costs here. When remodeling the kitchen, remember to keep the project in line with the style and quality of the rest of the house.

3. Bathroom additions

If your home only has one bathroom and is meant to house more than two people, a bathroom addition should be one of your top priorities.

4. Bathroom remodeling

Upgrading a pokey bathroom will enhance the value of your home and add to daily comfort and enjoyment. White porcelain is the safe, timeless choice here.

5. Finishing unfinished spaces

Whether it's the attic or a basement, by finishing these spaces you add significant value to your home, increasing square footage without having to build.

6. Window/Door replacement

If your windows or doors are wasting energy or simply decrepit-looking, replacements can be an excellent use of your home improvement dollars.

7. Deck Addition/Improvement/Expansion

Decks are one of the few exterior improvements with any significant return, apart from painting.

8. Additions of bedrooms, family rooms, sunrooms, conservatories, garages, etc.

Increasing square footage is almost always an excellent use of remodeling dollars, but don't expand you home so much that there's little outdoor space left.

9. Home office remodeling

This project is becoming increasingly popular. Be sure to plan for plenty of electrical and cable outlets to accommodate all the required machines and gadgets.

10. Energy Efficiency Retrofits

If your primary concern is return on investment, proceed with caution. Some retrofits, like better insulation and high-efficiency furnaces, pay for themselves relatively quickly. Others, like solar panel, heat recovery ventilators, and tankless water heaters, may take years to pay for themselves.

Two projects that are unlikely to pay off at resale are swimming pools (which may adversely affect your property value) and excessive landscaping.