Home Improvement Projects and Your Home’s Value

Home improvement

Many homeowners take on home improvement projects with an ulterior motive: they hope the renovation will boost the property’s value. After all, who wouldn’t want a state-of-the-art kitchen, an extra bedroom or a swimming pool? But it’s important to understand that not all projects are created equal. Some can even diminish your house’s value.

The best-known example is a custom-built addition that costs twice as much as the house itself, and often doesn’t add any living space at all. Another common mistake is overspending on high-end materials. For instance, a new kitchen with top-of-the-line appliances and imported marble countertops won’t be appreciated by prospective buyers who can’t afford those luxury features.

On the other hand, some improvements are almost guaranteed to add value, such as a new front door and fresh paint. Another good tip is to keep landscaping simple. Overly elaborate yard work is not likely to appeal to buyers, and may actually detract from the property’s value.

Lastly, it’s important to talk to real estate professionals before undertaking any major remodeling projects. They can tell you what specific updates will increase your house’s resale value, and which ones to avoid. And don’t forget to update your home insurance policy as well. The value of your home may have increased, and your old policy may not offer enough coverage.

Whether you’re looking for DIY tips and advice or want to know more about popular home improvement projects, Brandpoint has everything you need. The Gale OneFile home improvement collection includes articles, videos and more to help you better understand how certain projects can impact your home’s value, as well as smart choices that can save money.

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