Home Improvement & Remodeling ROI
By Debbie Murray
The National Association of Realtors reports that kitchens, baths, and outdoor projects bring the highest value to a home for dollars spent. In Texas the backyard oasis definitely adds additional value. With our hot summers and generally mild winters, pools, outdoor cooking centers, and outdoor fire pits or fireplaces add value as they are considered "additional living areas."
Most popular updates include kitchen and bath remodels, window and roof replacements, front door replacements, exterior upgrades, garage doors, and flooring updates.
Should a homeowner spend money on such updates? Many buyers prefer updated homes although seller updates may be personal in taste. Many homeowners would rather spend updating dollars now to receive enjoyment from the updates, than update for the sole purpose of selling a home.
Trends change and decorator colors do too. Consult a designer or decorator when uncertain where to spend your updating dollars. And remember that hiring a general contractor may be less expensive than hiring individual contractors. Also, off season updates such as during holiday times may cost less as most contractors have less business at those times.
Keep receipts from all updates as this information will be valuable when appraising and selling your home.
Broker/Realtor® Debbie Murray helps luxury home sellers in the Dallas area facilitate real estate transactions through education. Contact Debbie at 214-558-1004.