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Tim Hall:
Licensed Real Estate Broker, actively selling since 1993. Co-founder of Re/Max Central Properties, with my wife, Bell Hall, and team-leader for a team of 7. BA from Capital University and a US Navy Veteran CU-60 U.S.S. Saratoga. Father of 3 - Alicia, Erica, and Amber; and grandfather of 1, Ava.
Home > Blogs > Greater Dayton Home Report > Archives > 2008 > April > 22 > Entry
Can I raise my home’s value?
One of the more common questions that homeowners ask is: “Which home improvements make the biggest difference in the price we can get for a property?”
Good question! Unfortunately, while average dollar amounts and average percentages can’t tell you about your home in particular, they can give you a pretty good idea.
Basically - within limits - anything that increases the home’s size and attractiveness to the general buying public will increase its value. The limits have to do with the initial value of the home (you aren’t going to double it) and with the neighborhood.
Room additions - with proper building permits - tend to get you back all your money when they look like the rest of the house. Those that look “added on” usually don’t fare as well, and rooms not built to code or with the proper permits mean trouble.
Extra bathrooms, quality kitchen cabinets and upgrades, new roofs, roomy closets that don’t reduce the square footage of the house, exterior paint, light-colored or neutral interior paint and small-print wallpaper (sometimes) tend to get you back more than you spent. Watered and treated lawns, a clean driveway (use oil remover) and colorful plants in front are always a big plus. Also, a selection (not a jungle) of healthy house plants usually helps. And anything that makes your bedrooms look bigger is a good idea: for instance, mirrors on closet doors where approriate, light window treatments, or tasteful, sparse furnishings.
Usually, you can hope to break even on new carpets, swimming pools, fireplaces, cabinets, custom curtains and specially blended wall paints.
I do hope this gives you some ideas you can use! Want more tips or an estimate of your home’s value? Shoot and email to info@timhallteam.com and we’ll get right to it!
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Comments
By Concerned Taxpayer
April 22, 2008 3:21 PM | Link to this
All these articles about what improvements to make to a home that increase the sale value and get you back your initial investment are getting tiresome. I believe that if you really run the detailed numbers, you will find very few if any improvements or additions in which you can truly recover all your costs(not including time & headache). I have read some articles that say 75% at best. If you have worn out carpet, why bother going through the trouble and expense to replace it? Price your property accordingly (adjusted for needing new carpet) and afford the new homeowners the opportunity to pick out their own carpet and have it installed between closing and move in. The same logic can apply to any other improvement. I can’t imagine that many people buy homes and don’t ever want to repaint or recarpet to their own tastes — yet tons of for sale listings say new carpet and fresh paint. The rule of thumb I use is that I make improvements or updates to my home because it will increase my level of enjoyment, and not worry so much about getting every dollar back out when it sells. I think making improvements solely to increase the sale price need to really be thought out.By W.D. Garner
June 10, 2008 7:34 AM | Link to this
Mr. Hall-Question:I am very interested in a property here in Darke Co., OH. During the open house it was discovered that the current owner is asking the local township to reduce the acres from 14 to 1.7 which is below the standard required minimum of 2.5 to 5 acres. Also a easement is being added to allow access to farm land at the rear of the current property. We are very interested in the property but the reducution of the lot size concerns us greatly. The minimum of 2.5 acres is related to the size needed for the spetic system. Should we request that the minimum of 2.5 acres be included or should we back away from this property? Thank you, W.D. Garner Greenville OHBy Tax Liens
July 1, 2008 12:57 AM | Link to this
very nice tips… really interesting…i was really in search of these types of blogs… thanks for shairng ur ideas…waiting for the next post… http://www.Johnbecksamazingprofits.com