If you think that making improvements to your home will increase its
market value,
you’ll discover that’s sometimes the case, but not always. Modern kitchens and bathrooms usually pay for themselves in the increased price you can ask when you sell. But you may have a harder time getting back the installation cost of a swimming pool, sauna, or converted garage.
Sometimes the simplest and most cost-effective improvements, such as a fresh coat of paint, can have the biggest impact on the resale value of your property because it makes the property visually appealing. And while extensive remodeling may increase your home’s market value, often more modest improvements — refinished floors or a backyard deck — can have as big an impact on how quickly the property will sell.
May
increase resale value
Little
or no resale value
Interior
and exterior repainting
Swimming
pools and saunas
Extra
rooms, including an extra bathroom
Extensive
landscaping
Kitchen
and bathroom renovations
New
windows
New
deck or terrace
New
plumbing, heating, roofing, or electrical system
You may want to be
careful of making expensive additions to your home that price
it out of the neighborhood. For instance, imported hand-painted
tile work and gold-plated faucets in a modest bungalow might
actually make your home more difficult to sell, not easier.
Zoning regulations
can be a bit byzantine. Before you make changes to your property,
it’s smart to discuss your plans with your local zoning
board or homeowners association. Otherwise you could unwittingly
run afoul of the rules and be forced to undo any changes
you make.
