How much value is added to my house through home improvements?
I bought a regular cookie cutter 3bed-2bath-2car 1590 sq. ft. house brand new in December 2008 for 5,000 with nearly NO upgrades, being a handy person that can do them myself for cheaper. My question is: approximately how much value will I have added to my house through home improvements? So far I’ve:
1. painted the walls (they were white) and put up blinds/curtains,
2. put in ceiling fixtures,
3. put in a pool,
4. put in a river rock border around the backyard (was a dirt lot) with a stone paver barrier,
5. put in flowering bushes to cover the pool equipment,
6. put in grass,
7. put in stone pavers on one side of the pool as a deck,
8. added a 4′ invisible pool fence (removable),
9. added a French door from the master bedroom straight out to the pool deck,
10. put up shelving in the garage,
11. put child safety latches on cabinets (removable),
12. put child safety alarm on back door (removable),
13. put anti-theft locks on exterior doors,
14. upgraded all kitchen appliances
and that’s about it, I’ve been a busy bee the last 10 months.
Tagged with: 10 months • back door • blinds • busy bee • child safety alarm • cookie cutter • curtains • exterior doors • flowering bushes • french door • handy person • home improvements • house brand • kitchen appliances • master bedroom • pool deck • pool equipment • pool fence • sq ft • stone pavers
Filed under: Home Alarm Systems
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The pool was probably a waste of money and the worst thing you could have done. Except for certain parts of the country like the southwest. Of all your other things you did the paint was the only thing you did that was an upgrade. You need to do work on the kitchen and baths. They are the two most important areas of your home to improve. Since all the other improvement revolve around the pool they are not upgrades. The three exterior upgrades needed to improve homes are windows, paint or siding, and landscaping. Here are some links to help you. Good luck with your home.
http://www.buy-and-sell-house-fast.com/sell-house/upgrade-before-selling-house.shtml
http://ezinearticles.com/?Building-For-High-Resale-Value,-What-Upgrades-You-Need,-Which-You-Should-Go-Without&id=537991
The door and the pool are the only things that have added to the value of your home.
Most the of the landscape and other items will be considered cosmetic, meaning it may entice a buyer to pull the trigger on the deal, but the bank will see little value to it.
The appliance upgrades… unless the new appliances you replaced were substandard, this will also be seen as cosmetic (vanity) to the bank. The appliance industry has taught newer consumers to replace appliances every 3 to 5 years based of fashion fads. Chances are the new buyer will "upgrade" the ones you put in once they get settled.
I am assuming some of the stuff listed goes along with the pool to be compliant to safety laws, so be up front about that to prospective buyers. The pool can be a big plus or minus depending on your locale. Some will see it as a huge liability (like the new owner’s insurance company), and many locales are discouraging pools altogether (i.e. making it impossible to get through the red tape on a local level).
To make the pool seem like a plus, be knowledgeable about the safety requirements; how lienient is your area, what is the future trend for your area, how you have fulfilled the current safety regulations, and how many will be grandfathered on to the new owner. If the next owner faces a whole new slew of safety requirements that you did not- fill it in and make a flower bed out of it if you expect to sell the house.
Good luck.