A good ROI means more money in your pocket. You may love your home and want to make some changes for its improvement, but if you plan to sell in the near future, you should keep these guidelines in mind. They will help you make wise decisions and avoid unpleasant surprises later on. However, keep in mind that not all home improvements yield the same ROI. Some projects yield higher ROIs than others, while the best return is often found in mid-range improvements. Minor renovations and additions yield higher returns than major renovations and full additions.
Consider making upgrades that are in-line with the neighborhood’s standards. For instance, do not add a swimming pool, a tennis court, or a hot tub unless you plan to sell your home in the near future. Such upgrades may scare away prospective buyers. Also, consider competing properties in the neighborhood and market conditions before investing in major renovations. Not all renovations have the same payback.
If you’re looking to increase the value of your home, you should look into remodeling your kitchen or bathrooms. If you intend to stay in your home for a while, you might want to add a bedroom or a bathroom. You might even want to transform your basement into a living space. Whatever the reason, you may be happy with the results. When it comes to selling your house, a good ROI means more money in your pocket.
