Top Home Improvements that Pay Off | Flooring hunter

In our previous post we talked about some small stuff you can do to instantly improve your homes. In this one, we?re hoping to give you an insight on which home improvement projects can increase the value of your property. And NO! We are not saying that increasing possible resale value and return on investment should be the only motivation for making improvements in the house.

We are simply saying that it should be one of the factors to consider when planning for a major home improvement or renovation project, think of it as wise investment though there?s no immediate plans of packing your bags and selling the house to the first willing and able buyer.

Remember when you first scouted the real estate market: were you looking for a fancy chandelier or a wine cellar? A mortgage to buy property is serious stuff and should not be taken lightly, would you care about that ridiculous bar when the basement is flooding or the roof is leaking? There?s no way you?ll buy that one even if it had a granite countertops!

Another key thing to keep in mind is the market value of your home and the real estate market within the property?s area. Saleability doesn?t begin in your bathroom and end in your front door. It extends to the neighborhood and surrounding communities too. So before you splurge on that luxury bathtub, think about how it?s going to cost you and how much you can eventually get back from it when you get tired bathing in it.

We have 2 kinds improvement projects for different areas of the house that?s guaranteed to pay off:

1. Creating New Space

This is our top pick. A few square feet of space not only adds value in terms of money but it also adds value to the family?s time together as a new space means a new place to bond and spend quality time in.

A ?2005 study of the National Association of Realtors says that every 1,000 square feet of space added to a property boosts its price up to about 30%. Now ain?t that something?

So what spaces add up?

Bathrooms. An average return on bathroom improvement or bathroom additions according to Remodelling magazine is at 86.4%, the highest among other rooms in the house.

Decks. Installing decks is not only the most efficient way to add those extra square feet to the house, it is also generates a reliable value: a recoup of about 85%.

Attic Rooms. Whether you convert your attics to an extra bedroom, a library, home office or crafting shop there is a possibility of getting 70% of money spent as home buyers prefer that attics have better use than common storage.

Just remember not to overinvest on your space-creating projects because if you?re house is the most expensive in the neighborhood, it becomes harder to sell. Keep this in mind but the priority has to be the meaningful payoff the entire family can enjoy.

2. Maintained, Tamed and Updated

In some cases, improvements doesn?t always refer to adding or building something new at home. Most of the time its just working on and preserving what? already on your property that an add greater payoff.

Hardwood Floors. A refinished and well-maintained hardwood flooring can be time-consuming and at times expensive but a well preserved one can add up a 20-25% premium.

Basements. A basement treated to perfection, whether used as a laundry area, lounge, gym or an entertainment room can earn you back somewhere between 70-80 percent of the money spent. Personally, whether or not it pays off, I think no one wants a flooding or wet basement and everybody wants a warm and dry one. ?

Kitchens. Since most people consider the kitchen as the heart of the home, having an updated kitchen with well maintained walls and flooring and modest appliance can get you a payoff somewhere between 70-80%.

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