Home Improvements: How to Add Value to Your Home
Home improvements are a big investment and you need to put a serious amount of thought into how much they will cost and budget accordingly. For people who are unsure about their long-term residential plans, the decision is even tougher, as they have to decide whether the improvements are worth the hassle and upheaval if they don’t end up staying there. Some home improvements have a good return on investment (ROI) while others do not, and it is these two factors that should dictate what home improvements you make, if you intend on selling your home in the near future.
For example, a new bathroom addition generally has a very good ROI. Most people see a second bathroom as a necessity when buying a home these days, so it will make a good impression on potential buyers. Data shows that you can usually recoup between 80%-130% on resale when you add a bathroom to your home. On the flip side of this, property additions like indoor or outdoor swimming pools have a very poor ROI and you generally only recoup between 30%-50%, so these are best avoided if you plan on moving soon.
Do Home Improvements Add Value to Your Home?
The guys from from HalfPrice.com.au have put together this useful infographic, which should assist you in this decision making process. It charts some ideas that tend to consistently add value to a property; it shows how to make your options of the environmentally friendly kind and it highlights some improvements ideas that tend to not result in a positive outcome in terms of ROI. Check it out on the link above.