How to Increase Your Home's Value

Most people love their home and work tirelessly to keep it in good condition. Many people pour thousands and thousands of dollars into their home, but the value doesn't necessarily increase. There are certain areas to focus on when investing in your home's value that contribute directly to increasing it.

Difficulty: Moderate

Instructions

1. Considering that the areas where you get the largest increase in home value are the areas where there is the most traffic.

2. Remodeling a kitchen will always add value to your home. Changing the counter tops to granite or marble will give your home a very upscale look. Space is very important, so when you consider your appliances, attempt to have them in the wall rather than sticking out and taking up space. Cabinet refacing or replacement will also add value. Increasing the size of your kitchen will definitely add value.

3. Remodeling a bathroom will add substantial value to your home. People spend a lot of time there. The larger you make it the more value you will add. A vanity area is nice (because people can be a little vain...you think?). A large spa type tub is desirable. A custom shower with new fixtures is very appealing.

4. Increasing the square footage of your home will definitely increase the value. You can add a room or expand an existing room.

5. Adding new carpet, a new roof, new windows and new paint, won't necessarily add value to your home. Good floors, a solid roof, nice looking walls and secure windows are expected necessities. They will help you to sell your home, but not necessarily contribute to increasing the value.

Tips & Warnings

• When looking to do home improvement always obtain at least three written estimates. If you are comfortable with an estimate, ask for at least three references and check them out. Remember, this is your home we're talking about. You can't be too careful.
• Do not allow your home to become a "White Elephant." This is where you have poured so much money into your home in upgrades that it is worth substantially more than all the homes in the neighborhood. You won't be able to sell it or refinance it for what it's worth because the appraisal companies must compare your homes to other homes in a specific proximity.