Remodeling Magazine publishes and anual report in November comparing construction costs with resale values in over 50 markets nation wide. Traditionally, as it already been pointed out, kitchens and bathrooms get the highest return. Siding and windows score high in most markets, as well, but you should check the local statistics for Baltimore as every market is different. Best wishes.
From a selling stand point the three highest priorities are:
1. curb appeal-paint, trim, plant, etc
2. kitchen-this is where they all head first, so an updated kitchen will score some points
3. bathrooms-bathrooms that need remodeling can turn people off and "kill the deal"
There are obviously more considerations but we have found that homes that meet these three criteria stand a much better chance of selling.
Hope this helps.
The "Eckler Team"
See if your agent can get you a copy of the annual Realtor Magazine article on cost vs. value in home re-modeling projects.
First, concentrate on any problem areas. Do any mechanical, electrical, etc... repairs need to be done? Does the roof need to be replaced? If anything is broken, or close to the end of its life, concentrate on fixing those areas first.
Second, compare your home to other homes in your area that you would be competing against. Do they have more bedrooms, a finished basement, or other finished square footage that your home doesn't have? If so, try to improve your home in these areas so you are comparable to your competition. Storage areas, especially walk-in closets, are always in demand!
Third, remodel your kitchen and bath with amenities and quality fixtures that are ideal, or a little above average for your area. Stick to neutral but don't be afraid to add a little personality, especially if you will be living in the home for a little more time to come.
You could also upgrade landscaping and driveways to improve curb appeal and privacy.
I wish you the best of luck with your home!
[Shannon] of DesigningReality - Home Staging, Real Estate Photography, and Design
also, DON"T over improve for your area. Maybe look at what else is for sale and stay within whta is expected. If you have the nicest house on the block, it doesn't mean someone is going to snatch that up.
Stay within budget, and if you are planning on selling soon, make sure you would be able to price it to sell it when the time is right.
read design mags for some good advice to what is popular. maybe concrete counters, nice appliances, etc.
Without a doubt, bathrooms and kitchens are very important places to invest remodeling dollars. Depending on the age of your home you may also benefit from replacing the roof and the HVAC system. Adding a deck or finishing a rec room may also give you a good return on your investment.
Before deciding where to invest your time and money though, its always important to consider how long you intend to stay in your home. If you anticipate being there for a longer period of time, then use of higher quality material may be warranted for you to enjoy (ie. granite counter tops, hwd flooring etc.). However if you are uncertain of how long you will stay in the home or think it may be less than 5 years then you may not get the ROI you may want when you sell.
You can visit our website and view our home inprovements page for more valuable information on wise home improvements.