Tips on Which Home Improvement s You Should or Should Not Invest In

May homeowners would like to make improvements to their home for many different reasons.  There are many things that should be considered before doing so.  You need to take into account why you want to make these improvements, how long you plan to stay in the home, and will these improvements add, decrease, or have no effect on the value of the home.  This is a guide that will help you determine which improvements you should or should not make.

The first question you want to ask yourself is why you want to make these improvements.  Are they for your comfort and enjoyment or are they to add value to your home.  Along with that question you need ask yourself how long you plan to stay in your current home.  Most home improvements will not add as much value as they will cost so if you plan to move in the near future it probably is not worth your time or money to make the improvements.  However, if you plan to stay in your home for a long period of time it may be worth it as the enjoyment you will get out of these improvements will be your value. 

We are now going to look at some specific home improvements and whether or not you should consider making them.

• Pools:  Pools should be considered as a home improvement by homeowners looking to stay in their home for a longer period of time.  While there are some potential home buyers out there that would not mind a home with a pool there are many more that consider a pool a completely negative factor.  Because of safety reasons, the amount of work they take to maintain, and the increased water bill many potential buyers will not even consider buying a home with a pool.  If you are looking to sell your home in the near future and/or quickly adding a pool could make the process much harder.
• Additions:  Adding square footage to your home may seem like a sure added value but most times it is not.  If you are looking to sell in the near future it is probably better to leave that addition off.  You will likely only recover a very small portion of the money spent.  An addition should be considered when you plan to stay in the home for a longer period of time and you are adding the space because you plan to get value out of using it not in recouping the costs when selling.
• Do-It-Yourself (DIY) Projects:   Many times homeowners would prefer to make home improvements themselves rather than pay a contractor because it would be cheaper.  Only those that are truly experienced with the type of specific project being done should attempt to do it themselves.  Home improvements are about quality and with no experience it is easy to decrease a home’s value with faulty improvements. 
• Kitchens and Bathrooms:  For those looking for home improvement projects that will potentially increase a home’s value two areas to focus are the kitchen and bathroom.  Upgrading kitchen appliances and bathroom fixtures are things that will increase your home’s value and could help to sell the house faster. 
• Exterior:  Another area to focus on when looking for home improvement projects that will potentially increase the home’s value are exterior improvements.  Replacing your homes siding, replacing windows, and replacing garage doors all can increase a home’s value.  The best thing about replacing windows is not only will it help to increase your home’s value it will save you in energy costs until you sell. 
• Smaller Improvements:  It is important to remember that small home improvements such as new paint and new carpets/floors could potentially help to raise the value of a home.  Remember that when it comes to home improvements bigger is not always better.  For more inexpensive ideas to increase your home’s value please check out the article “Ideas to Inexpensively Increase the Value of Your Home” on the selling page of our website.

If you are ever unsure whether a home improvement would be beneficial contact your real estate agent.  As professionals your real estate agent can help you make the most informed decision that will most benefit you.