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Increasing your homes value.

Here is a link to a Yahoo article that is pretty much right on the money.

10 Ways to Increase your Homes Value.

Sorry but the story vanished while I was writing this. Here is a brief summary:

Ten things to do that will increase your home’s value, that you can recoup 70 to 90 % of when you sell. Here are 9, sorry I forgot one of them.

1 Add a room, build or redo the attic.

2 Add a Garage.

3 Completely finish the basement.

4 Add a wood deck.

5 Add a composite deck.

6 Completely remodel the main Bathroom.

7 Add a bathroom.

7 Completely remodel the Kitchen.

8 Update kitchen items.

I gave it the once over and it pretty much seems to be in order, but I have a couple of comments to make about it.

First, about the Basement Remodel.  Back when the housing market was cruising with new sub divisions being built almost daily and home values going through the roof, I was informed that the homes on the market that were being sold the fastest, were the ones without a finished basement, or very little done to the basement at all. They were the ones that were moving the fastest and that was because most people don’t want to have to tear out a complete basement remodeling job to put in what they want.

Plus, most basement remodel usually have some sort of decor or theme to them and usually it was what the previous owner liked. Chances are the buyer will not like how the basement is done and will want to do it their way. There is something about a basement. Either you are just going to keep things down there and use it like a big storage shed requiring no real work to it at all, or you are going to make it into your primary spot to live and entertain, which usually requires a full remodel.

If you do decide to finish it off though, you want to go very, very plain with things. No special woods or funky materials and do not go with any kind of theme. No wagon wheels or pink elephant stencils. Make it plain Jane but do it well. Don’t cut corners and make it look as if a drunk carpenter did it. This will enable the future buyers to redecorate it how they want, without doing to much tear out first.

This was passed on to me by a professional in the housing market.

Now, about all the figures of how much you will get back if you do the items to your home that they list. They are pretty much on the money with the figures.

My comment is this, You will never recoup the total cost of what you did when you sell, so don’t do any more than clean the place immaculately and repair everything that is scratched bent or broken. Paint and make it move in ready. You will get the most return for your dollar by just getting it completely ready to move into as if it were a rented home or apartment.

If you are not moving then by all means do what you want to, so you can enjoy your home for a while before you ever think of selling it. Worry about recouping what you put into it later, and fix it up the way you want to now. But keep it plain and you will sell faster.

Bankruptnooption.

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