Your
House is like your savings account. Whatever you spend on it, is usually paid
back at the time reselling. However, before arranging for your home
improvements you must keep in mind that some of your home improvements will pay
off, while others are just a fancy, nothing more. Apart from this, there are
other factors as well that affect overall worth of your property. For example,
if you have spent $20,000 on your house, you will definitely increase its
price.
On the
other hand, all other houses in your locality are less costly. Buyers will consider
that you are charging more than the worth of the property. Dean Graziosi believes that your neighbor puts
a very crucial impact on price and worth of your property. He further suggests
that before investing on home improvements you must consider market in your
locality.
Dean
Graziosi is an expert
realtor. He
has performed successful real estate deals since 20+ years. He is a successful
entrepreneur with a million dollar heart. Dean is famous for his infomercial
series. He is also a bestselling author. Dean has explained which home
improvements are going to pay off and which are not. Let us have a look.
Kitchens:
You can
recoup 70% to 80% of your spending on kitchen. Kitchen is heart of any house
for most of the buyers. You can change color, floor, ceiling, cabinets and
system in kitchen. Replace old material cabinets with new ones. Go for fleshy
and lively wallpaper. Hang lanterns and color the ceiling and cabinets with brighter
shades.
New Space:
Creating
new space will definitely increase worth of your house. For example, you can
convert your basement in to an area of socializing. You can also convert an
attic to a bedroom, 75% of the cost will be recovered.
An Extra Bathroom:
Adding
an extra bathroom will give you its original price in no time. A complete
bathroom with ceramic tiles, molded sink, bath tub, marble trimming vanity top
and shower will give you back 65% to 80% of money.
Going Green:
Applying
energy saving changes to your home is another feasible option. Most of the
buyers are willing to pay a few extra bucks if the work is up to the local
standards.
New Windows:
Adding
new windows to your house will make it appear bigger and brighter. Although
most of the buyers like windows, mostly adding extra fences or making the
windows prettier and designed does not add any value to the cost of the property.
Swimming Pool:
This is
one of the non-paying changing. Majority of buyers are repelled by the presence
of a pool. The reasons why people do not like a pool are diverse. Some think
that it is quite hard to maintain a pool in middle class budget. Then there
comes huge responsibility. A small accident and it could be reported as owner's
negligence.
Lush Green Gardens:
Adding
green gardens to a house definitely increase beauty of a house. Sadly, lavish
gardens do not add much to the cost value of the house. People are not willing
to pay money on the name of a garden. On the other hand, maintaining a garden costs
hundreds of dollars every month. However, there are exceptions. Some people
might agree to pay a few thousand dollars more on a lavishly decorated garden.
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