Ameristar Mortgage Blog

Whether you want to fix a faucet or add a new addition to your Wisconsin home or Illinois home, you need to know the facts and the pitfalls of home improvements. The reasons most often cited by respondents for not making home improvements were the inability to make the changes themselves (37%) and not being able to afford the modifications (37%).

This section examines a few improvements that pay off more often than not and some that rarely make a difference when it comes time to sell your home. Even a few basic improvements to your kitchen can pay handsome dividends, says real-estate agent Michael Murphy in his book “How to Sell Your Home in Good or Bad Times. As a rule, improvements that increase the functional space of a home hold their value longer than ones that just make a house look better. Installing a deck may be the most cost-efficient way to add square footage to your house, and of all the outdoor home improvements except painting, it may be the most reliable value.

Prices for most remodeling projects continue to climb, while the recoup value of improvements at resale is declining to levels last seen in 2002. Some good improvements include installing double sinks, tile floors and new bath fixtures and faucets. Larger improvements could include adding a fireplace, building a deck or patio, or adding a new heating or cooling system. Cosmetic improvements can also go a long way in the minds of prospective buyers. Smaller, less expensive improvements could include replacing old doors or installing a ceiling fan. You should also avoid making too many expensive improvements that go beyond what is typically found in your neighborhood. Fixing a gutter, painting a room, or replacing a window pane are repairs rather than improvements.

The kitchen is the most important room in the house since it’s where much of the family interaction occurs. The average return-on-investment for improvements to the kitchen ranges from about 80 percent to 93 percent with average costs at $15,000 and up.

Ameristar Mortgage is your local Wisconsin and Illinois Mortgage Broker:

Dennis Hardy
Local: (608) 242-0826 x23
Toll Free: (877) 240-5840 x23
dennis.hardy@ameristarmadison.com
www.AmeristarMadison.com

Visit my blog at http://www.ameristarmadison.com/blog/