Major Home Improvements
Be cautious with improvements. You may be thinking of performing some "value added", and possibly costly, home improvements before you put your house on the market. Before you do, ask your agent to help you determine the best improvements for your home. Don't go overboard on remodeling. That is, don't invest so much money into improvements that you won't be able to get it out again. Be particularly wary if your home exceeds the value of the other houses in the neighborhood. Here is the scoop on some favorite home improvements:
Paint
This is the number one payback in home improvements. Repainting your home will always pay, but to avoid this expense, try washing your home's exterior and touching up the front door, window frames, and eaves first.
The Kitchen
A remodeled kitchen is always an attractive element to a buyer. In the kitchen, spend your money first on quality appliances, such as the dishwasher, stove, and refridgerator. Then, if you still have room to spend, go to the sink, counter tops, and cabinets. If you can't afford new cabinets, simply replacing the knobs can really make a difference.
The Bathroom
Buyers like bathrooms with plenty of storage and natural light. If you are adding space to your bathroom, it is smart to leave the sink, toilet, and shower/bathtub where they are. If you move them, you could have to pay to reroute the plumbing, which requires tearing up the foors and putting in new pipes. That's going to kill your pocketbook for sure, and won't be paid back when you resell the house.
Bedrooms and Storage
In two-bedroom houses, it pays to add another bedroom. However, after the third bedroom, additional bedrooms don't increase the home's value as much. Adding closets and built-in storage almost always pays. Everybody seems to have more stuff than they have places to put it.
Fireplaces
Fireplaces are at the top of the list for buyers all over the United States, excluding the warmer regions of the nation. You don't necessarily have to hire a brick mason to install one either, as many companies offer cheaper, pre-made models that will heat the home just as effectively. If you can afford to hire a mason, a built-in, brick fireplace would be a beautiful addition to your home.
Wooden Decks
Decks are more popular now than concrete patios, but if you really want the deck addition to pay off, enclose it with ornamental trees, hedges, or vine covered trellises for additional privacy.
Decorative Windows, Doors, and Skylights
These can change the whole personality of the house, making it more appealing to buyers.
Landscaping
Buyers usually prefer low-maintenance landscaping over extravagant yards that require constant weeding, watering, and pruning.
Furniture
Even though your home furnishings are not part of the home's price, they influence the prospective buyer's overall impression of the house. What's great about buying new and attractive furniture and decorations is that unlike a new stove or sink, you get to take the couches and the tables with you when you move.
Pools Don't Pay
Unless you're one of the only houses in the neighborhood that doesn't have a pool, digging up your backyard will probably not pay for itself when you resell. So save your money and put the pool in your new house, if you'd like.
*NOTE: Always be sure to obtain the necessary building permits and inspection for work you do. Buyers will ask for it and lenders will insist on it. It is always less expensive to get permits in advance than to have your work torn up afterwards for a thorough inspection by the building inspector.