As homeowners we must be ready and willing to take on home-improvement projects to keep our homes well maintained and in the best condition possible for our own benefit and for re-sale value when we go to sell. In today's Madison WI real estate market you may not be getting your money back on home improvements that you've done in the past couple of years but those updates will help your home sell faster in a market that is best described as a "Price War and Beauty Contest." I have access to many great home-improvement resources. Here are some of my favorite tips from HGTV's Carter Oosterhouse:
Focus on projects that will pay you back
For example, if you're dealing with hot or cold weather, try to lower heating and cooling bills by properly sealing your home. Look for drafts around windows, doors, and vents,and then use caulk or weather stripping to seal them. It may not be glamorous, but it will pay you back down the road.
Know where to start
If you have never taken on a major project, start with spaces such as the living room, spare bedroom, or the garage -- rooms that won't limit your ability to function, says Oosterhouse. I also recommend working one room at a time so you don't feel overwhelmed with the whole house.
Many times, people have maxed out their closet and have no more room to add, let alone organize. That's when it's time to evaluate. Donate clothes you no longer wear to a charity, store seasonal attire in a separate location, and try living by the rule for kid's toys that when a new one comes in the home, an old one has to go out (meaning donate not trash).
Break down a big project
Planning is essential. As Oosterhouse says, if you think you can just start up any big job without a plan, then you are in for a world of frustration. Know your capabilities and limitations. It helps to have a notebook or a binder dedicated for your home where you can keep lists of what you want to do, what you've done (include dates), receipts and warranty paperwork along with contact info for your favorite contractors (or check our list here). This is a great asset when you are ready to sell your home too! It will make it easier for your Realtor to properly market the updates and features of your home to potential buyers.
Know where the biggest ROI is
The improvements that will most add to the value of your home include: the kitchen, the master bedroom and bathroom. These can boost your resale value and attract buyers who want a space that's move-in ready.
These are just some of many great suggestions for tackling home improvement projects. Feel free to contact me for more ideas and please forward this email on to your neighbors and friends that are homeowners too.
Source: Lowe's Creative Ideas magazine, 2010