Improving Home Value
There are many ways to improve home value, and the one thing they all have in common: is that improvements cost money. Also, know every expenditure adds value and the ones that do may add more value relative to the money spent than others. Caution! Unless the homeowner expects to live in the home long enough to enjoy every extravagance, regardless of investment return, all expenditures are worth seeking professional advice and in most cases professional workmen.
Remodeling is generally considered improvements to existing space. This can vary from new sink fixtures, all the way to new cabinetry – think flooring, lighting, appliances, claw foot tubs and new windows.
Adding to existing space can create much more value. Additional room, a new swimming pool, etc. fall into this category. However, the additions need to make sense for the neighborhood. A castle in a modest neighborhood may hit a price ceiling that no amount of improvements can crack.
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