In Maryland, which home improvements yield the highest return?
We hope you love your new home as much as we do. Our list of the most outstanding home improvements to help make it a better, more comfortable place to call home.
- Home Improvements for Spring
It doesn’t matter if you have a million dollars in income, or have to scrape by only on a $5,000 salary, there is always room for improvement. Home improvements bring the maximum value to your property and are the best investments most of the time.
In fact, according to research from State Farm, “Home improvements can account for more than half of your annual savings.” There are a few things you will want to look at when making a home improvement decision that will help you save money. Some of these things include:
1) How much is the project going to cost?
2) Will it stand up over time?
3) Does it need a second opinion?
4) How long does it take to build?
5) What kind of materials do I need?
- Improve Exteriors
It is true that the exterior of your home is one of the most important factors in determining its value. Unfortunately, contractors are often faced with unrealistic expectations from sellers. In order to provide homeowners with the information they need to make informed decisions about their home’s value, we have compiled a list of some of the top home improvement ideas for Maryland homes.
According to real estate agents and lenders, a major factor that determines whether your home will be more or less valuable is, in fact, the exterior. In fact, according to data collected by Greenlots & Green Homes , the most common condition that drives up property values is a lack of curb appeal . Exterior deterioration and weathering can cause damage to both your home’s facade and its structure. One example of this comes from an older house in Baltimore that had significant deterioration on its exterior due to exposure to elements such as water and wind. The massive crack on the first floor window was so large it could be seen through a clear pane. Inside, though structurally sound and well maintained, there was evidence of significant water damage on floors throughout the house and mold growing inside walls due to moisture intrusion into unfinished areas like foundations and crawlspaces .
Traffic lights are another example of how exterior conditions can affect your property’s value. The lights themselves may not be standing out as bright or prominent as they once were due to age or negligence . However, traffic signals have become more prominent as time has gone by due to advancements in technology — specifically increased lighting efficiency — which has led many businesses across our state to invest heavily in upgrading their signs . These upgrades have helped turn our state into an auto-centric destination for many Marylanders .
However, you don’t just have to look at your house’s exterior condition when making an investment decision; you also need to take into consideration certain other factors before making a purchase decision for your home . When looking for a contractor for a home improvement project , you need to consider several key aspects before you choose one:
1) How much do you want/need it done? Do you want your entire house gutted or do you just want some updates put in? What kind of updates do you want? Are you looking at renovating or gutting?
2) What will it cost? Are there any hidden fees involved? Will it take longer than expected because it will require extensive work? Will it require extensive materials purchases? Will there be
- Improve the Interiors
It’s hard to face the truth. The truth is you can’t improve a home that doesn’t need it. But this is the moment to face it. There are thousands of homes in Maryland that have not been improved over the years. They sit on their spots and have become unlivable. Since these properties have not been improved, they have many problems besides the lack of an interior.
What do you do? You sell them for whatever price you can get them for. However, if you make improvements, you may get a much higher return than what was paid for them in the past .
To get a good return on your investment, you need to make improvements in your home as well as exterior.
- Increase the Property Value
Property value takes a long time to increase. Getting this process done is the most important thing a homeowner can do to increase the value of their home. It’s one step on the road to success.
While there are a few steps you could take to help with your property’s value, you should implement them in the order they’re listed so that each step increases your chances of success. The list below is a sample of what I recommend homeowners do in order to maximize the property’s value, and I have also provided a few additional steps that you can take as well.
The first and most important thing to realize is that home improvement projects don't have to cost hundreds of thousands of dollars. In fact, they don't have to cost any money at all.
In fact, you can get the same return on your investment in home improvement projects you would receive from a similar purchase.
The key is the initial investment and the ongoing support from professionals. If you get it right, you will save thousands over the course of your remodel and even possibly resell for more than what you paid for it.
Let us discuss this in more detail. Contact or call me.