Thursday, August 11, 2022
In today's marketplace, home valuations take into consideration many factors. One of these factors is the law of increasing returns, as related to the money spent for improvements on a property.
Surprisingly, not all home improvements are considered added value projects (law of diminishing returns).
That said, let's start with some that are considered, more often than not, added value home improvement projects:
- Garage Doors
- Refinishing Basement
- Upgrade Flooring
- Add on or Home Office Conversion
Home improvements that may not add value to a property's value include:
- Swimming Pool
- Extensive Landscaping
- Expensive Lighting & Fixtures
- Solar Panels
Staying ahead of market trends and making safe decisions about home improvements is always a good idea.
- Dotdash Meredith Creative (28 June 2022). "Three Home Improvements That Actually Add Value—and Three to Skip", TheBalance.com (9 June 2022).
- Valerie Kalfrin, Christopher Rogacz (31 January 2022). "What Upgrades Increase Home Value? 25 High-ROI Improvements Buyers Love", Homelight.com (31 January 2022).
- Ginera Benedetti (15 December 2020). "8 home improvements that won't add value – what to avoid when renovating", Homes & Gardens (15 December 2020)