Home Improvement Projects Improve Value

Home Improvement Projects Can Increase The Value Of Your Home

Copyright © 2006-2008 Emerson Lockwood

Home improvement projects can improve the look and value of your home dramatically.
Though in some cases, using a home improvement project as a way to increase the
value of your home can actually backfire and cost you money. So how will you be able
to tell if the project that you have planned will add to the value of your home or
decrease the value of your home?

The first thing that you need to know is the appraised value of your home. You must
know the appraisal value, or estimated resale price, of your home before you can
determine if a project will increase or decrease the value of your home. Although you
may feel that your home is worth a certain amount of money, and that a home
improvement will increase the value by X amount of dollars, your feelings will not set
the final selling price, the appraisal will.

When completing a home improvement project that you believe will dramatically improve
the resale value of your home, you need to consider your neighbors houses. If you have
the nicest house in your neighborhood, but you are trying to sell it for twice as much as
the appraisal value of other homes in the neighborhood, you will be disappointed.

A general guide is to not try to sell your home for more than 20% of what the
surrounding homes will sell for. For simplicity, let us assume that the homes in your
neighborhood are appraised at a value of $100,000. This would mean that you could
expect to get about $120,000 out of your home if you make selective home
improvements.

What this means for you as a homeowner is that you should seriously rethink any home
improvement project that would cost more than $20,000 going by our above example.
Using the above example, it is easy to see that a $30,000 home improvement project
would cause you to lose money in the long run.

Now, if you can make a home improvement that costs very little, but results in a higher
resale value, it may be a good idea to pursue that project. Going back to our example,
if you can spend $5,000 on a project and this results in your home being appraised at
$115,000, then it is a great investment idea.

You also want to consider the appeal that your home improvement project would have
to a future owner. For example, swimming pools and hot tubs may be something that
you enjoy, but would a potential buyer pay extra for those features? There are some
fairly safe projects that you can pursue that other home buyers generally find valuable.
Some of these include kitchen remodeling, adding or remodeling a bathroom, adding a
new room, landscaping, etc.

Also keep in mind that maintenance projects do not usually result in an increased value
for your home. Replacing a broken furnace or hot water heater usually will not improve
the value of your home when selling it. These are considered maintenance issues that
all homeowners expect the home to have working. Most people would not consider
paying full price for a home that does not have these basic features in working order.

The bottom line is that if you are interested in increasing the resale value of your home
you need to make smart decisions. Smart decisions on which home improvement
projects to tackle can put extra money in your pocket when you sell your house.

About The Author:
Emerson Lockwood write on topics related to Home Technology, Home Improvement and
Home Financing. You can see more of his work at the Super Home Ideas website:
http://www.SuperHomeIdeas.com . Super Home Ideas covers everything to do with
your home: Home Improvement, Home Repair, Buying and Selling a House, Financing a
Home, Buying Homeowners Insurance, Gardening and Landscaping.

7 Popular Decorating Colors
Copyright © 2006-2008 Julie Lohmeier

Picking the right color for a room can often
be the most difficult decorating decision.
The best way to find a color you like is to
look at other homes, restaurants, and
good old-fashioned paint chips. Here are
some popular colors in decorating right
now. The specific colors I refer to are from
Benjamin Moore(r).

Buff: This is the new neutral. It looks great
with trim - stained or bright white (my
classic favorite), is neutral but not boring
off-white. I have this color throughout
nearly half of my house including
hallways, foyer, and basement. Everything
works well with it. Buff can range from tan
to deep taupe. Some specific colors are
Tyler Taupe, Porter Ridge Tan, and
Shelburne Buff. Also, consider
Chestertown Buff, a designers' favorite. It's
warm, not too gold, not too taupe and not
too bold. It works well in many settings
and any room.