Fire damage cleanup costs anywhere from $800-$93,000. PeachtreeRemodeling magazine, in its “Cost Versus Value Report,” offers a region-by-region market analysis of specific projects and the paybacks of each in terms of selling your home. An example: Replacing old windows with vinyl models at a cost of $11,066 increased the resale value by $7,920. So, 71.8 percent of the expense is recouped. Older houses can often have a separate toilet and bathroom, which can put buyers off, so if this is the case in your home, you might consider installing a toilet inside the bathroom, if you have the space.
Your changes should conform to the neighborhood. If you live in a neighborhood of two-bedroom bungalows and you add a second story to put in a couple extra bedrooms, you aren’t likely to see a high return. Buyers looking for homes that large won’t be looking in your neighborhood. On the other hand, if many of your neighbors are making similar improvements (perhaps because these affordable homes are on large lots and in a great school district), you might fare well doing the same.
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The best way to gage what you can expect in terms of resale value on home improvementsâ€”especially if you’re planning to sell soonâ€”is to talk to a real estate agent who is an expert in your market They’re sure to know the local trends, and they can show you how other homes with the features you want to add are selling. That way, you can make an educated decision before you start ordering lumber and knocking out walls for a massive remodel.
A sun room or conservatory can be easily added to a property, or built as a separate room in the garden – though you need to weigh up the value of the extra house space vs the loss of garden space. Such is the predicament many homeowners face when it comes to maintaining and improving their homes. And with spring approaching, chances are you’re daydreaming about all that you’d like to do around the house as soon as the days are longer and the weather is warmer.