Joyner Fine Properties Blog 5 Best and 5 Worst Resale Value Remodels

5 Best and 5 Worst Resale Value Remodels Good Resale Value:1. Kitchens. Updating a tired old kitchen is one of the wisest methods, and a tried and true one, of increasing the value of your home. When planning a kitchen remodel, and making design decisions and selections for plumbing fixtures, appliances, cabinets and countertop materials, you should determine whether you are prioritizing your own design aesthetic or the return on your investment.2. Adding living space. A straightforward addition of a new living room space is typically a very good investment. Newly added square footage equals increases your home's value. 3. Curb appeal. You have heard not to judge a book by its cover, but smart money recognizes the cover's value. Your front elevation is more than just a first impression. It's the only impression available to just about all of your home's potential buyers. 4. Master suites. Sorry, kids. Home buying decisions are in the hands of adults, and adults care about the environment where they sleep. Updating a master bedroom or remodeling and adding a new master suite is money well spent. 5. Bathrooms. Home buyers notice bathrooms, and although all the bathrooms are important, a priority should be placed on the powder room and master bath, followed by a guest bathroom and any other secondary baths (the kids don't need to know). Poor Resale Value: 1. Kids' spaces. Yes, if your kids have a climbing wall, the fantastic addition will probably lead to hours of fun, increased strength and perhaps even a sense of accomplishment for your kids. It's a fine idea, and like a pool slide, might even be a childhood dream come true. But there is no assurance your home buyer will feel the same way.2. Pools. Backyard pools are loved by millions, and while this appreciation is well founded, they should be constructed for their many virtues that are not investment related. A pool might increase the value of your home but is unlikely to pay for itself, as some buyers will perceive the pool as a negative maintenance expense.3. Wine rooms. Wine rooms are a great addition, but may not appeal to someone who does not love wine. Original designs rarely appeal to everyone, so when adding spaces to a home you know you will sell, consider how personal it is and if others will feel as strongly as you do. 4. Removing features. Do not remove features for investment reasons. If you never use the fireplace in your basement, removing it might make perfect sense to you and your family. Just make sure you understand that the next homeowner might wish it were still there, and the money you spent demolishing the fireplace and reworking the space will not be reclaimed.5. Minor additions. Adding a few square feet - say, to expand a bathroom or secondary bedroom - is rarely money well spent.You might think you are the master of your own remodel, but sadly, it's not always so. Remodels sometimes have a tendency to develop their own inertia, as decisions lead to new dilemmas, unintended consequences and surprising outcomes. In some cases, these flights of fancy are perfectly acceptable, provided the design and completed execution truly align with the vision and budget. But if your budget is a concern, and the wise investment of limited home improvement dollars matters, then there are a few basic guidelines you should familiarize yourself with before planning your remodel. If you are thinking about remodeling your home and have questions about cost vs. value before working with the contractor, give me a call! I'd be happy to help. For more information, visit: https://www.forbes.com/sites/houzz/2015/05/22/5-best-and-5-worst-resale-value-remodels/#1eda98e21625 (source)