What does “return on investment” have to do with homes for sale. Lots and it doesn’t matter if you are planning to sell your home in the near future or stay there for an extended period of time. Homes are usually the largest investment people make so it is wise to take advantage of it.
According to Money News homeowners are spending record amounts on home improvements. While you live in your home you want to enjoy it as much as possible. However, you may want to consider if changes you make to your home add value in the long run. Yearly the National Association of Realtors conducts a remodeling impact report that analyzes the return on investment people receive for home improvements when they sell. While it varies from year to year some improvements simply may move from the top 3 to the top 5. This year the top projects are as follows (in order of highest to lowest return dollar for dollar) – 1. kitchen renovation, 2. kitchen upgrade, 3. bathroom renovation, 4. adding an additional bathroom, 5. adding a master suite, 6. new wood flooring.
Of course, the curb appeal of your home is always important so you don’t want to forget about the yard either. Often if the yard isn’t appealing (dead plants, full of weeds, etc) potential buyers won’t even go into the home. And, if they do, their mindset tells them the home isn’t well maintained so they are more critical of items that need attention.
If you take care properly of your home you can enjoy it for many years and still have it pay you back when you sell it! You simply need to show it a little love along the way.