Home ownership means home improvements. Here’s some help.
Many homeowners want to make improvements to their home but are afraid because they don’t know which ones to make. They don’t know how to get the most bang for their buck. We chatted with NoHo real estate expert Luanne Prima from Prima Properties on which home improvements help give homeowners a better return on investment.
NoHo: What are some changes homeowners can make to improve the value of their home?
Luanne Prima: What you get back on investment depends on the value of the house, the value of the homes in your neighborhood and the housing market.
Generally speaking, you can’t go wrong with kitchen and bathroom remodeling. Kitchens bring in anywhere from 92% to over 100% return on monies invested. Bathrooms bring in 80% and up. Roofs and new windows also bring in 80%.
Also, every 1000 square feet added to a home boosts the sale price by more than 30%. But additions must be permitted. A lot of properties are not permitted and sold that way and, yes, it is illegal and not fair to the buyer.
In my opinion curb appeal is most important. The home must look nice on the outside so when someone drives by it catches their eye and they want to go inside. So spend some time outside as well as inside.
Here’s a handy chart to see some of the bang for your buck when making home improvements.
Want to get to know more about Luanne and Prima Properties? Here’s an article on what makes her a sought after NoHo broker.
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