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do updates on the interior bring home values up ? or what are the basics that make one home more valuable than your neighbor's
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susan moody
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I see about 20 appraisals per month, and the place you want to spend the most money on are kitchens and bathrooms. Do not spend too much money on ancillary places like the basement or rec room as appraisers are only giving a fraction of the value you put in.
Value is not easily calculated but yes, interior upgrades make a difference. When I list a property I look at pictures of the homes currently on the market and sold and compare what they have to what the subject/seller's house has. That way you are comparing apples and apples.
Yes, whenever I take a listing, I like to view my clients home in the eyes of a potential buyer. Fresh paint, clean floors, new carpeting, and decluttering are inexpensive fixes which can make your home desirable to a buyer. The most important rooms to update are the kitchen and bathrooms, especially the master bath.
There are a number of things that are key to increasing your homes value. Street appeal is very important, and because so many people such as yourself spend so much time looking online - a great web presence is a primary goal when your home is listed. There are a huge number of cost effective upgrades you can do with little or no cost - landscaping, furniture arrangement, cleaning, and storing all those little knick nacks away! how a house smells is also important - you have probably heard the trick of baking cookies before an Open house. All of these little things go towards increasing the perception of value in your home.
There are two things which are immediate - square footage and location. With some investment you can always upgrade areas in your home dependant upon budget. Granite countertops, stainless appliances, tile rather than vinyl flooring and wood floors rather than carpet. In the end the comparable properties in the neighborhood where realtors pull their prices and stats from are based on all the tangibles such as square feet, number of beds/baths, nearby amenities, schools etc but with a little effort and a small budget (paint is the cheapest transformer of all!)its amazing how you can transform a mediocre home into something really inviting and appealing.