What adds more value to a house? – Questions and answers about the value of the house

This article is for the average homeowner and not for people who want to upgrade “upper class” homes in prime neighborhoods. The things that add value to a house come in two aspects; one is the value of the home to a new buyer and two is the actual appraised value. There are different things that add value to one or the other, and sometimes both.

First, the things that add value to a new buyer are visual things. 80% of the sale is curb appeal. Houses for sale look a lot like humans if you think about it. We all have our own problems and failures, but we don’t want to announce it to our neighbors. Yelling at the husband/wife and kids is something we try to do around the house if you know what I mean. Selling the house has some similar features; It is the house that looks nice from the outside that sells first. Any minor defects within the home can be repaired once the buyer has moved out. Most people don’t want to be the one with the ugliest house on the block.

Another similar feature is that the newer the better. People like new trends, what is currently popular, and they are always looking for something better. Having a few of those popular items scattered throughout the house will bring an update, even if the entire house hasn’t been remodeled. How does it look updated and modern? Here are some tips;

• Cleaning (most important)
• Green lawn, trees. Trim shrubs and trees, plant annuals for great curb appeal.
• If your kitchen cabinets look bad, consider painting them if you can’t replace them.
• If your sinks or toilets aren’t white, replace them.
• Light, neutral paint colors. Paint the ceiling lighter than the walls to add height.
• Carpet in neutral tones and light browns.
• Tiles that look like natural stone (if they aren’t already)
• Stainless steel. Bronze or brushed steel fittings (gold is out)
• Vinyl windows, energy efficient
• textured walls.
• The kitchen and bathrooms are the most important rooms in your home.

Creative decoration can be a great advantage. Get creative and make it look clean and tasteful – this will add the most value to a new buyer. Just keep in mind that the “general decor” is better. Not everyone likes that same decoration. I once bought a very nice (expensive) ceiling fan to put in a house. I thought it would be a great selling point as it was so beautiful to me; it was the first thing the landlord ripped off when he moved out. So do not overdo it and fall in love with your decoration.

Second, the things that add value to an appraiser and really make your home worth more are more structure and product based. Modern updates have little influence, but are mostly updated in a general way that makes the best difference. For example, if you replaced your old wood grain Formica countertops with a tile countertop, that would be considered an “upgrade.” Whether you used granite or ceramic tile may or may not make any difference. That difference would depend on your home, if you’re in a $500,000 home and you add ceramic while all your neighbors have granite, then your tile countertops would be a small upgrade. But if you live in a modest neighborhood where most other countertops were still Formica (but newer than wood), then installing granite doesn’t add any more value to your home than ceramic. A good example is seeing a really big and beautiful house with all the bells and whistles built in a neighborhood where all the houses were that size with minimal improvements. The value of that big and beautiful house will be less than that of one of its equals located in a better neighborhood. What your neighborhood offers will give you a great gauge of how far you need to upgrade to add value. Go a “little” further than your neighbors, going all out and beating them by miles won’t give you as much value as it sounds. Just try to think about upgrading generally, shop wisely, and forget about “brand name” purchases. 25 year old carpet and 10 year old carpet rarely make a difference in appraised value.

Then it comes to adding appraised value to a home, it will be limited to things like square footage, age of the home, construction or rebar manufacturing, etc. Within those bounds, this is the best way to add that value (yes, they’re in order);

• Add square footage with an addition.
• It has a garage or store.
• Drywall and textured walls. (Get rid of the wood paneling, especially if it’s dark)
• Kitchens and bathrooms are the most important rooms.
• kitchens; new countertops, new cabinets (or resurfaced), new tile or linoleum flooring, etc.
• bathrooms; good lighting, white bathtubs and sinks, tiled or linoleum floor, very clean toilet, etc.
• New Carpet/Flooring: Wood floors (real and laminate) may have a higher value. The brand of the rug generally doesn’t make a difference, and neither does the padding. Details like fixtures, appliances, paint colors (neutral is best, not white), etc.

Above all, new paint has great value, even if it looks good, a fresh coat of paint can make all the difference in the world to a potential buyer and appraiser alike. It is also a task that the whole family can do.

Determining what adds the most value to a home will require a bit of neighborhood research, but when you’re done, you’ll be sure that your hard-earned money will be spent on things that actually add value. Also, we all love to save money and time. If you need a definitive number on what a certain upgrade might add in terms of value, then you should visit an appraiser in your area.