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Adding Value to a Home

DALLAS-FORT WORTH (Nov. 30, 2004)

Whether buying or selling a home, it's important to think in terms of value -- that is, the value that a person gets simply from owning a home. Much of that value comes from the structure itself and general property values in the area. But a great deal of it also comes from what that person does to the house.

"Some remodeling choices add value to homes; others subtract value," said Sue Sistrunk, president of the Greater Fort Worth Association of Realtors. "Some unwise remodeling choices also can make a property extremely challenging to sell."

The majority of remodeling projects cost more than the amount the home's value will increase.

However, some types of projects come closer to paying for themselves when a homeowner does sell. Sometimes, it makes sense to undertake certain remodeling projects simply to make the house more attractive to buyers. But the best reason to remodel is to get more pleasure and functionality from a home while still living there.

Here are some of the best ways to get the most value from home improvement projects:

Invest in a great kitchen and bath

People are using kitchens to entertain; after all, the kitchen has become the heart of the home -- the place people like to gather. So it's no surprise that top-of-the-line kitchens can be a great remodeling project.

Homeowners are also cooking more, so solid surface counters in granite, marble, name-brand countertops are hot, as are professional-quality appliances. Stoves with more than four burners and cabinets in maple, cherry and birch are guaranteed to make even the most jaded homebuyer swoon.

Bathrooms have become private havens, and more people are adding luxury master baths with jetted tubs or steam showers like the ones often seen in spas.

Use wood (or tile or granite)

Natural materials or synthetic materials that look natural (like laminate flooring) will attract buyers.

First impressions count

Make sure the home looks great from the outside because a well-kept home always adds value.

"Drive down your street and check out the neighbors' yards," Sistrunk said. "Mature, beautiful trees can add thousands of dollars in value to a property, according to appraisers."

And don't underestimate the power of the porch. Front and back porches are back and in high demand.

Fix it now

It sounds obvious, but fix what needs fixing. If something's broken in a home -- however minor -- it's a big value-detractor if it is still broken when the home is for sale.

"Even if you're not selling in the near future, fixing a problem now can help avoid it turning into an even bigger and more-expensive repair in the future," Sistrunk said.

Paint it

A fresh coat of paint or a new color can do wonders to a home.

Check out the competition -- and get ideas

Visit the neighbors' remodeling projects and tour model homes and furniture showrooms to check out current design trends and identify styles that are popular.

Prioritize

Make a list of the improvements to be made -- then rank them in order of importance.

"Although you might love to take a jackhammer to your kitchen, your priorities might depend on your budget -- in which case you'll start with painting the trim," Sistrunk said.

Southwest Florida Realty, Inc. Dockside Realty Group
1326 Cape Coral Pkwy E.
Cape Coral, FL 33904