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Home Improvement Tips For A Return On Investment
By April Kerr Published: 08/26/2009
There are renovations and then there are renovations. Perhaps you as a homeowner do not understand the entire concept related to this issue. To clarify, there are home improvement ideas to add value to your home and others that simply do not.
In order to understand this further, an example would be in order. For instance, an upscale home in an upscale area requires high end materials and perfect results. The norm would be to have expensive high grade custom wood cabinets and cupboards in the kitchen. Nothing else would suffice. But, such renovations would exceed the norm in an average middle class home and neighborhood. Although this would bring the latter some value, there is a limit to how much and that would result in a loss on your investment.
However, if the same is true in high end homes, then it would increase the value of it, and going for the average stock type kitchen may lower the price. In essence, you are looking to improve rooms in your home that would make sense to the future buyers. Therefore, a custom kitchen in a home located where the residents of the area are affluent, a custom kitchen would be the norm.
Being smart means knowing when to say when, unless you don't mind losing money. Consider the idea of shopping for an average home but finding it completely overpriced because the owner decided to install imported, rare hardwood floors. In this case they don't have relevance for the real estate market.
With that said, the most return on investment comes from the two most popular rooms in the house, the kitchen and bathroom. In the kitchen, replacing an old backsplash can make all the difference as would new cabinet door handles. Of course, with either of these, there are numerous choices to suit any style and decor.
A new countertop can also breath new air into a tired kitchen. Again, there are endless materials on the market, including the professional look you get from stainless steel. Stone, such as granite is also in demand and would get you a good return on your money. Instead of going for the high end granite, opt for the tiles that still look great and still say "granite" to buyers, at a much lower cost. This is an optimum choice for the middle class home.
Keep in mind that maintenance should always be considered when choosing the material. If you plan to sell your home, consider material that are easy to maintain and clean in order to entice buyers.