Improve Your Home, Improve Its Value

Posted by Elizabeth on March 1, 2011

For anyone attempting to sell their home, you know how tough the market is.  2011 looks to be a better year for home sales as attitudes and consumer spending starts to increase, but the market still has much room for growth.  Some homeowners are making the best of this time by completing home improvement projects like updating their bathrooms, repairing their roofs, and/or painting the interior/exterior walls among a myriad of other tasks.

It is important to note that your home’s value can be measured both monetarily and intrinsically.  Some simple home improvements, like freshly painted walls, help buyers perceive a higher value for your home, while updating your kitchen with new counter-tops, appliances, cabinets and flooring will bring larger returns on your investment.

Perhaps you’re the do-it-yourself type, or maybe you need to enlist a professional.  Either way, you need a plan, and you need to know your limitations.  Start with a professional home inspector.  They will be able to give you a laundry list of immediate as well as less urgent repairs.   Ensuring your home is up to code will help increase your home’s value.

Once the basic inspection needs are met, you can focus on some more aesthetic improvements.  Kitchen remodels offer the highest payback at about roughly 80% – 85% of your investment.  Remember to keep the updates current, yet neutral enough to appeal to many potential buyers.

Another simple improvement that is often overlooked is proper use of space.  Hire a professional space planner to help maximize your home’s storage capacity.  Reclaim your junk pile of a two car garage and reap financial benefits.  Showing a clutter-free home is a low cost way of demonstrating its value.

Whether you’re dreaming of major renovations, or you just need a few simple tweeks, adding value to your home through home improvements is always a great idea.  Take advantage of today’s slower market to make these updates.  Start with a plan, seek help from the experts and stick to your budget!

Contact Jacob Gould at Fischer and Frichtel to get started on your home remodeling. Jacob can be reached at 314-402-0736 or jgould@fischerandfrichtel.com