Penny-Wise Home Improvement

Here are some tips from Forbes on how to get the most bang for your buck when you remodel your home. In other words, what improvements can you make that don't cost a bunch but that will increase the value of your home?

Here are their suggestions:

"Think like a buyer who is looking at your house," she says. "Think in terms of relativity to the competition in your neighborhood, because it is so dependent on what you are up against. If you live in an expensive area, or an area with a lot of new construction, and you have an outdated kitchen, you may need to improve it."

Be careful not to over-improve your house, O'Connor adds. "You should think what you are up against in terms of what you want to spend. People shouldn't spend a lot of money to remodel a kitchen in a neighborhood where it simply doesn't command it. "

Newly remodeled kitchens and bathrooms can make a home more marketable. "But rarely do you get a 100% return on any kind of remodeling job you might do," says O'Connor.

Since everybody's taste is different, however, it may not be wise to spend too much money to change things, because it may not be what the buyer wants. "Keep improvements on par with other homes it will be competing with, and try to appeal to the broadest group of buyers as possible," says O'Connor. "Most importantly, be objective. Sometimes, you may need a real estate agent, decorator or even a friend, to give you that consumer perspective."

One word for you: neutralize. Whatever you do, make the colors neutral and you have the best chance of making it attractive to the masses. We got a pretty good deal on the house we now own because they had very dark gray carpet and dark paint on the walls. We bought knowing that we'd have to re-do a lot, then spent $15,000 or so on new carpet and paint for the entire place. It made all the difference in the world!

Comments

[James]

It's not always about making money when SELLING your house. You might have bought a bargain house, and you're now looking to make the most out of your investment, AND make the house something you want to live in (some might say, a Home).

That's why I started my blog on home improvement. I obviously couldn't afford a place that was already completely decked out with the latest and greatest, and yet we still get complements on how good it looks. So, I'm putting together a list of tips on how to improve the look of a home. Not all the tips involve spending money, and most of them I picked up the hard way, or via the net.

Thanks,
James

(JUST in case you were wondering, the blog is at "http://buildingahouse.blogspot.com".)

[Credit Card Rewards Enthusiast]

I might add the tip that you can get 3% rebate at home improvement stores by purchasing your remodeling supplies with the Chase Home Improvement Rewards Mastercard.