Winter Improvements Add Value, Appraisers Say
Winter Improvements Add Value, Appraisers Say
Did you know winterizing your home has the potential to increase its value? According to the Appraisal Institute, making specific improvements ahead of colder months is often well worth the investment.
“Fall is an ideal time for homeowners to take stock and make the appropriate updates for the cold months ahead,” says Appraisal Institute President M. Lance Coyle. “Routine improvements can make a winter indoors more enjoyable and, in some cases, increase the value of a home.”
Home improvements with the highest cost-to-value ratio include steel entry door replacement, mid-range and upscale garage door replacement and wood window replacement, according to a recent Hanley Wood Cost vs. Value Report. Replacement projects tend to generate higher returns on value than major room remodels, including those of kitchens and baths. At the time of resale, for instance, a bathroom remodel recoups 70 percent of its cost, but a steel entry door replacement recoups almost 102 percent.
Along with making these improvements, homeowners can winterize with some simple, energy- and cost-efficient measures:
• Check for air leaks around walls, ceilings, doors, lighting and plumbing fixtures, switches and electrical outlets.
• Look for ways to use controls such as sensors, dimmers and timers to reduce lighting use.
• Clean warm-air registers, baseboard heaters and radiators as needed; make sure they are not blocked by furniture, carpeting or drapes.
• Install aerating, low-flow faucets and showerheads.
• Close curtains and shades at night to protect against cold drafts; open them during the day to let in the warming sunlight.
Additionally, taking steps to winterize outside of the home can protect investments in landscaping, a deck or roof, all of which can potentially add to property values. Consult with an appraiser before making decisions on which outdoor winterization projects to undertake.
Source: Appraisal Institute
For more real estate information, including a FREE Home Market Analysis and Market Area Statistics, please contact me at Kim@KimKroner.com or on my mobile phone at (703) 946-2526.
Did you know winterizing your home has the potential to increase its value? According to the Appraisal Institute, making specific improvements ahead of colder months is often well worth the investment.
“Fall is an ideal time for homeowners to take stock and make the appropriate updates for the cold months ahead,” says Appraisal Institute President M. Lance Coyle. “Routine improvements can make a winter indoors more enjoyable and, in some cases, increase the value of a home.”
Home improvements with the highest cost-to-value ratio include steel entry door replacement, mid-range and upscale garage door replacement and wood window replacement, according to a recent Hanley Wood Cost vs. Value Report. Replacement projects tend to generate higher returns on value than major room remodels, including those of kitchens and baths. At the time of resale, for instance, a bathroom remodel recoups 70 percent of its cost, but a steel entry door replacement recoups almost 102 percent.
Along with making these improvements, homeowners can winterize with some simple, energy- and cost-efficient measures:
• Check for air leaks around walls, ceilings, doors, lighting and plumbing fixtures, switches and electrical outlets.
• Look for ways to use controls such as sensors, dimmers and timers to reduce lighting use.
• Clean warm-air registers, baseboard heaters and radiators as needed; make sure they are not blocked by furniture, carpeting or drapes.
• Install aerating, low-flow faucets and showerheads.
• Close curtains and shades at night to protect against cold drafts; open them during the day to let in the warming sunlight.
Additionally, taking steps to winterize outside of the home can protect investments in landscaping, a deck or roof, all of which can potentially add to property values. Consult with an appraiser before making decisions on which outdoor winterization projects to undertake.
Source: Appraisal Institute
For more real estate information, including a FREE Home Market Analysis and Market Area Statistics, please contact me at Kim@KimKroner.com or on my mobile phone at (703) 946-2526.
Comments
Post a Comment