10 Tips to Increase Your Home's Value - Tip 10 - Benefits of upgrading vs selling

Over the last week we have been posting about 10 Tips to help increase your home’s value. We are already at tip #8,  if you have missed the first few tips you should be able to find them in the blog archive area just to the right of this post. The thought of increasing the value of your home may be easier than you think By following these tips found via the Home and Garden Network, your home may be worth more than you think.

Tip 8: Weigh the benefits of upgrading versus selling.
“Should I stay or should I go? It's a question many homeowners are trying to figure out. Here is how to tell if there is more value for you in fixing up, or moving on.

First, estimate your costs to buy a new home. Add up the realtor and home selling costs (packing, moving and the new loan financing). Don't forget hidden items, the buyer may ask you to replace the carpet before you sell or any other fixes to the home that you were not aware of or just didn’t have the time or budget to fix earlier. Make your best effort to include everything it will cost in time and money to sell your home and buy a new place. Then, you will want to estimate what you may get for your house and how much money you can potentially walk away with, with the closing of your current home.  When deciding on a new home, make sure you write down a “must-have” list, these are items your new home must have in order for you to make the move, does your current home already have these?

If you like your neighbors and your school district, consider remodeling. You can get exactly the home you want and you won't risk any buyer's remorse. Estimate the cost of making the most essential renovations needed for you to stay in your current home. Decide what you would like to do and go price shopping at your home improvement store. Contact contractors and get estimates on the projects that are not sure you will be able to tackle yourself. This is especially important if you need to add on extra square footage.

Look at what it would cost to move, then what it would cost to remodel. Add in the X-factors such as friends, schools and neighbors, are you close to shopping, restaurants, or even a bus line. When all is said and done, you may find you get more equity by staying in your home and remodeling.”

10 Tips for Increasing Your Home's Value - Tip 3 - Small Improvements

Over the next 10 days I would like to share with you 10 Tips to help increase your home’s value. We are on to tip 3, if you have missed the first two tips you should be able to find them in the blog archive area just to the right of this post. The thought of increasing the value of your home may be easier than you think By following these tips found via the Home and Garden Network, your home may be worth more than you think.

Tip 3:  Small improvements can really pay off.
“ It can sometimes be tough to decided between improving your home’s décor, versus making upgrades that you are sure to know will increase the resale value of your home. Several homeowners are shocked to hear that doing a little bit of both will actually pay off.

Again, start by making two lists; simply label the list as “upgrades for your home value” and “upgrades just for you.” The upgrades for your home list may consist of replacing older faucets, permanent lighting and doors. The upgrades for you will consist more of items, such as, furniture, artwork and window treatments. Let’s remove the old dartboard approach to picking projects and wondering if what you are doing is really making a difference. With this plan, you should see real progress.

If you have spent a larger portion of your budget on making an upgrade you can adjust and smaller changes for the next couple of months. Simply, upgrade a couple of electric plugs or buy a small lamp. If possible try to just one upgrade per month and you will be happy with what you see.”