Often times, we get asked about home improvement, specifically: "What is the best bang for the buck". Many home buyers have plans of adding value to their new home and many homeowners have plans of selling their homes in the future but would like to enjoy any investment and improvements that they make. Other folks want to weigh the costs of remodeling their existing homes versus buying a new one.
According to Remodeling magazine's 2009 Cost vs. Value Report this items offer the 10 Biggest Payoffs:
- Spruce up or replace siding - Pressure wash paint dated siding for a fresh new look.
- Add a deck - estimated at returning roughly 74%-82% of its cost a deck can add value to your life and your bottom line.
- Tweak your kitchen - Refacing cabinets, replacing counters, adding new appliances can return 80% of the cost to a kitchen with a great layout.
- Repair or replace windows - Triple play: New windows look great, are easy to clean and energy efficient.
- Overhaul your kitchen - "The kitchen is the heart of the home." Budget about 10% of your home's value for a full kitchen remodel.
- Strip the bathroom - Most bathrooms are fairly small and thus not too costly to update. Consider glazing old porcelain tile and tubs for a fresh clean look.
- Find cash in the attic - It is far cheaper to repurpose existing space than to add square footage. An attic bedroom not only adds the square footage but can add an additional bathroom.
- Earn bucks from the basement - Finishing the basement can add another family room and increase the feel of your space. Nationally, the estimated return on the investment is 74%. Remember, make sure you fix any water or leaking problems first!
- Add space to add value - adding a second floor or addition can give you the space you need without moving. Make sure you are not over improving your home for your neighborhood.
- Add low-cost landscaping - Dig some beds, plant some trees and improve the curb appeal of your home. Not sure where to start? Their are a number of local experts that can facilitate landscaping plans custom designed to your home and your budget.