May 7, 2020

Home improvement projects can help or hurt your home's resale value.

When it’s time for your next big home improvement project, keep in mind that not all upgrades are created equal.

In some markets kitchen and bath remodels will return more than 100% of their costs, while trendy or overly personalized upgrades could hurt your home’s value. That doesn’t mean you should pass on the shiplap wall or checkered tile flooring, but if you are trying to maximize resale value, it’s best to keep things neutral.

Do

  • Aim for broad appeal
  • Update kitchen counters and cabinets
  • Freshen up paint and other finishes
  • Invest in curb appeal with things like window replacements, landscape improvements or decorative garage door hardware.

Do Not

  • Overspend on top-of-the-line appliances
  • Replace mature landscape with new plants
  • Convert a bedroom to an office or ANYTHING else.
  • Make it too personal or trendy with things like bright colors, textured wall treatments or quirky wallpaper.

Every market is different. When it comes to upgrades and return on investment, you’ll want to do a little research. If you are thinking of selling your home and interested in making a few updates prior to listing, let us recommend a quality realtor who can help you decide which items will offer the best return in your particular market.

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Bay Equity Home Loans – Boles Group is a team of lending professionals located in Gilbert, Arizona and licensed to originate home loans for purchase or refinance in nine states (AZ, CA, CO, ID, MN, NM, NV, OR, WA). Boles Group lending professionals have the knowledge and experience to create solutions where other lenders create problems. The team prides itself on responsive, accurate communication and is highly regarded by clients and business associates alike.