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Home Improvement Projects That Add Value To Your Property

By Elizabeth R. Elstien

With homeownership comes the ability to remodel to fashion the home more to your personal taste. The ideal remodel is one that also increases the value (hence equity) of your home. According to Remodeling magazine's 2013 Cost vs. Value Report, there are several midrange and upscale remodels where most of the costs can be recouped as the remodel increases the home's resale value (equity).

Kitchen remodels always figure prominently in the annual cost to value report making a small kitchen alteration a safe bet in increasing home value. Recent years show that safety and outside appeal is a concern with door replacement coming in with three of the top five remodels that give homeowners a good bang for their money.

The top five remodeling projects for recouping costs, according to this report are:

  • Entry door replacement with steel (85.6% recouped)
  • Sliding door replacement (fiber-cement) (79.3%)
  • Wood deck addition (77.3%)
  • Garage door replacement (75.7%)
  • Minor kitchen remodel (75.4%)

Want to spend less money to remodel, but still add value to your home? Add a second bathroom if your home only has one. Younger buyers will rarely look at a home if it does not have at least two bathrooms. Upgrade kitchen and bathroom hardware and paint walls and cabinets in today's popular colors to give the home more of an updated, modern appeal. Keep colors in more neutral shades if you plan to sell in the near future.

Remember to get the necessary permits and licenses when remodeling, so any additional square footage or other changes can be legally acknowledged. If hiring a contractor to perform the work, choose a few reputable ones that are both licensed and bonded and have no complaints against them for project cost estimates. Contact any references provided by the contractor to discuss their work and check with the local Better Business Bureau, too.

Whether looking to sell your home, increase your home's value or just make your home more comfortable, try one or more of these home remodeling projects that will increase your home's value.

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