Renovations and Upgrades: Bring it to
Bank Part 2In Part 1 of this article series we discussed kitchens, bathrooms and bedrooms; three areas of
home that can boost value when updated or improved. If you have not yet read Part 1, visit http://www.voncannonrealestate.com to view it. Now, it’s time to talk about
other rooms in
house. And let’s not forget exterior upgrades. Even a quick and simple facelift makes
home more attractive and worth more. Use strategic planning to invest your money in
places that count most. You will be pleased with
return.
Simple Details Often Overlooked
When you choose to renovate a living room, den or dining room -- remember,
most important and valuable improvements are sometimes in
details. You may want to open out a wall to change
floor design, especially if you live in a home built in
1950’s, 60’s or 70’s. Again, a chair rail (especially in
dining room) and crown molding can increase
value. An upgrade in flooring, windows, decks, screened in porches and paint can all equal
perfect facelift. Use light or neutral colored paint to reflect light. Fireplaces can also add on about $3,000 to an appraisal. Just remember wood fireplaces are declining in popularity. Fireplaces that use gas or are converted to burn gas are more popular.
Simple and Effective Upgrades for Any Room
Consider updating dirty and chipped wall sockets. Also, you may want to replace light switches and light fixtures. Make sure
lights, wall sockets and light switches flow with
color scheme or
mood you are trying to evoke with
room. For example: do not use a rooster shaped light fixture in a bathroom. All of these changes will make a definite statement in a room.
Don’t Waste
Garage and
Basement
Think long and hard before you turn
garage or basement into a room. Although this may increase
square footage of your home
value is in
space as is. In Virginia, a one-car garage equals $10,000 credit with
appraiser. If
garage is converted
appraiser counts only 1/3 of
square footage and adds it to your home value. As is, garages and basements in good condition can be an excellent commodity when selling your home. Keep this in mind when prioritizing renovations.