What Adds Value to a House?
Location is one of the biggest factors in determining the value of a home. Kitchens, bathroom and a presentable exterior also contribute to the overall value of a home. Sometimes, it takes money to make money so the easiest way to increase the value of a home is to invest in it and take on some projects. Does this Spark an idea?
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Considerations
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The kitchen, bathroom and exterior of a home all contribute to its overall value.
Renovating or just making subtle improvements on a kitchen can add to the overall value of a home. Refacing or replacing old cabinets is one way to freshen up a kitchen and make it more desirable. Installing new appliances can also be beneficial. Adding new sinks and countertops can make a kitchen seem more aesthetically pleasing.
Remodeling, adding or modernizing bathrooms can greatly affect a home's resale value. Updating cabinets, toilet and sink fixtures makes a bathroom more appealing. Adding a second, or even a third, bathroom makes a home attractive to families. Knowing that there is more than one bathroom available at any given moment is a comfort to many people.
The exterior of a house is also important. Replacing or updating siding or even adding a deck can affect the value of a home.
Benefits
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A newer kitchen can add overall value to a home. The cost of a mild kitchen makeover in America is in the $16,000 range and it can add around $15,000 to the overall value of a home. The average cost of a total bathroom makeover in America is about $10,000 and it can add around $9.000 to the overall value of a home. A 1,250-square-foot replacement siding project can cost around $7,000 and add $6,500 or so to the value of a house. Adding an outside deck can cost the consumer around $7,000 for a 12-by-20-foot project. This can add an average of $6,000 to the value of a home. New windows and professional landscaping can also revitalize a home's appearance and add to its value.
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Size
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An addition, partial or even a full rehab project can increase the value of a home. Generally, projects that contribute to and increase the overall square footage of a home will add to a home's value. A rehabbed master suite that has a private bathroom and lots of closet space is always desirable.
Location
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The location of a home contributes to its overall value. Homes in more desirable neighborhoods will have greater values than similar homes in undesirable neighborhoods. Unfortunately, nothing can be done to change a home's location, it either is in a desirable location or it is not.
Misconceptions
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There are several misconceptions people have in determining what adds value to a home. Installing a pool will not necessarily increase the value of a home because of the need for constant upkeep. Fancy light fixtures, surround-sound set-ups and satellite dishes can be nice but do not tend to increase the overall value of a home.
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