If you are considering spending some money on home improvements this year, there are a few things that you might want to keep in mind. What you will get back with regards to your investment will depend on a few things that include the quality of the project, how soon you sell after making the improvements, the housing market in your area, the home values in the area, the value of the house, and more. For example, paying $10,000 for a stove to go in a house that is worth $200,000 just does not make too much sense. It also doesn’t make a lot of sense to spend a lot of money on updating the kitchen if your home is the only one in the neighborhood that only has a single bathroom. Here is a look at some of the home improvements you can make that will be worth the investment.
Bathrooms and Kitchens
You don’t need to be into flipping houses to know that bathroom and kitchen remodels are good investments. Many times, they can give you a return of more than all of what you paid for them. Bathrooms and kitchens are areas in the home where it is easy to tell if any money has been spent or not. When it comes to construction, these are the most expensive parts of a house, and they are where people tend to spend a lot of time.
Waterproofing the Basement
Your home sits right on top of your basement. This means that is something goes wrong in the basement, it can affect the entire house. The cost of making repairs to the house will be much higher than a bit of cost effective waterproofing treatments below the ground. It is inevitable that some moisture will get into your basement. Making up your mind to waterproof it is really just a question of whether you would rather spend a little bit of money right now or a whole lot of money in the future. Having to repair your total foundation, along with the basement, and probably other areas of your house at the same time will be much more expensive than simply getting the waterproofing done to begin with. It is also easy to find out about waterproofing in Indianapolis or anywhere else by just doing a bit of online research.
Recommended House Flipping Posts:
Design with Buyers in Mind
You will choose colors, cabinets, and other features differently for yourself than you would if you were flipping a house. Instead of appealing simply to you, the elements would need to be appealing to a broad range of people. If you are planning to sell your house soon after you make the investments, make sure to choose things that would be appealing to your potential buyers. Stick with neutral colors. Get cabinets that might be of a higher quality, etc.
Regardless of whether or not you put totally new bathrooms and upgraded the kitchen in your house, none of that will make any sort of difference at all if you have water in the basement when you are giving potential buyers a tour. The first priority of each and every home owner needs to be making sure that the existing structure is sound. If your roof has 2 layers and is 30 years old, it won’t matter if your bathroom is brand new or not. How important a maintenance issue will be has a lot to do with the geographical location too though. In the East, replacing a roof might be extremely important while in the Midwest, it might be something else entirely.
Even in the hottest of housing markets, the same thing is true. If someone thinks that the outside of the house is boring, they are not going to want to see the inside of it. Even the appearance of your lawn can have a positive or negative effect on curb appeal. If you are going to invest money in a house, work on making the curb appeal stronger. If the house is flat, you might want to add a front porch in order to create a bit of interest. You want the house to convey a sort of welcoming sense. If you do all of your improvements on the inside of the house and leave the outside looking awful, you will never even have the opportunity to show off what you did on the inside.
Also check out the best house flipping books.
Recommended Real Estate Investing Posts:
- House vs. Apartment: Which is Better for Investment?
- How to Invest in Real Estate After Bankruptcy
- 10 Tips for Flipping Houses
- Shifting Strategy Investing in Retail Real Estate
- 5 Tips for Making Money on a Commercial Property
- 3 Ways You Can Take Advantage of the Booming Real Estate Market
- Owning a Hostel is Anything but Hostile to Your Pockets