MADISON (WKOW) — Some home projects can increase your value, others can preserve it, and some might not be worth the money you spend on them.
Angie Hicks, Angie’s List Founder says, “When building your home, make sure you remember you’re probably not going to live there forever. So steer clear of these resale killers.”
Indianapolis real estate agent Gavin Frost says he tells homeowners to focus on paint, staging, flooring and lighting.
Gavin Frost, real estate agent, Frost and Associates, FC Tucker says, “We’re talking about furniture, we’re talking about little knick knacks that can pull the whole thing together. In other words, declutter the home and pull it together as one homogenous look for the whole house.”
Frost says to avoid spending too much on mechanical elements of your home if you’re planning to sell.
Frost says, “To go out and spend tons of money on a new high efficiency furnace is not going to return the value of the money you’d go out and spend extra to get a new furnace that just works.”
He also advises paying attention to the exterior, including pulling out bushes, planting flowers and replenishing mulch.
“A new, fresh bed of mulch goes further than you’ll ever know,” said Frost.
As you make these changes, be sure they all work together.
Frost says, “It’s really important to get a professional involved, look at all those pieces, keep an overall plan, and that will get you the most value and the best look.”
But don’t just think about increasing value. Some projects, such as bringing things up to date, help keep from losing value.
Frost also says, “Not every project in your home increases the value of your home. A lot of projects that need to be done PRESERVE the value of your home. And by doing them now, you’re going to get dinged less in the market.”
Angie adds that if you’re doing a job yourself, make sure you know what you’re doing. A bad DIY job will not only fail to improve the value of the house, it will call the rest of the house into question.