I can't give you specific numbers, I can't even ballpark it because I haven't seen your home and/or the home that has sold, nor do I know any specifics about your market. Improvments do have different values in different areas. Example: a pool in Florida might add x amount to the value of a home, whereas it might actually lower the value if the poolhome was located in Alaska.
As already suggested, an appraisal might be a good way to go or you might also want to contact a Realtor to give you an overview of your local market specific to your neighborhood and style of home.
Bathroom and Kitchen upgrades do tend to bring up value. Check the site included below. It is Miller Samuel, the pre-eminent appraiser in New York. His site if very informative and I hope it gives you some insight. Good luck.
At this point it is really difficult for us to say and give you some app. numbers. We do not know what it is that
you did to your home, nor WHEN, it is best to get a Realtor or two to come to your home, have a look and
discuss it with you. Sometimes as a homeowner one does all the right things so that the home is upgraded, updated and competitive in today"s market, although more often than not, do we do things to our homes, that WE as the homeowners either need or like, which not always may be what new constructions and current trends indicate to be looked for. Therefore Realtors who see a lot of homes in your area, will have a better feeling and as they will compare your home, by its location, style, size, they will also add or subtract from the initial list or potential sale price, what they think upgrades your home and what requires by the new owners some doing.
There are always advantages to completely updated kitchens and baths, new or newer roof and windows and then some of the other items, like hardwood flooring, nice tiling and the decor or space of a home and the floor plan itself depending on style of home.
Good Luck to you and I am sure that any one of your area Realtors will be able to give you a lot of input
and explain the plus and minus points of your property.
Your Chicago and Northern Illinois Expert
Refer back to the link I posted for you from Remodeling Magazine's Cost vs. Value to see what statistics are for your metro area:
Scott Miller, Realty Associates, Boca Raton, FL
As far as the list of upgrades go, here are the basics:
Paint in and out, carpet, clean or new drapes or shutters.
Crown molding and baseboards.
Actual wood doors.
Kitchen and bath upgrades.
Coat garage floors and paint in the garage too before the rains, as one has to empty out the garage.
Lighting and fixtures throughout.
I personally find that the most important renovations, upgrades or reparirs are the kitchen, bathroom, heating, windows, plumbing, electric, roof and any structural damage. If you can have these things in order then you will increase your property value significantly. These are the things that inspectors will look at with a keen eye to report to the bank and the buyer.
Since I don't know your exact area and house type, I cannot give you an exact value, but the things mentioned above will skyrocket the value. If you plan to do anything else to the house take it easy on how much you spend because in most cases you will not get back as much as you put in due to this buyer's market.
Depending on the quality of the upgrades you can get 15 to 20 percent higher.
Not of course if the market tanks when you list say in late fall, then it gets tough.
The prudent thing to do would be to call a Realtor and find out what are the Comparables and what's are the trends, also a lot depends on the location of your property etc.
walk thourgh of the house,size of the house and lot size,the condition.
Where it is located and what comp's are on the market and what as sold.
Have an agent create your own custom
comparable market analysis (CMA) reports.
That way we will be able to provide a professional market
value of your home.
Licensed Real Estate Agent
Century Homes Realty Group llc
Direct Line: 347-932-0609
Any upgrades or improvements you make to your home will add value. The more important questions is by making improvements will the value increase enough to justify the cost and/or effort to make such improvements. Usually when people make improvements to their home they get personal satisfaction while living in and using the home which is part of the value/reason for making such improvements. The fact that these improvements raise the homes value is like the icing on the cake.
If you are considering making improvements for the sole purpose of trying to get more money when you sell the house you have to be careful. You may not recoup your entire investment depending in the type of improvement that you do.
As an example, the best and most cost effective improvements to do when preparing to sell the house would be the following:
1) Paint the house! They say that $1,000 worth of paint will bring back $5,000.00 when you sell!
2) Changing old carpet and/or re-finishing hardwood floors. Again, you should get back double or triple the expense.
3) Landscaping! Mow the lawn and tidy up the hedges! Plant some pretty flowers. This will increase you so called "curb appeal."
4) If there is a blatant repair that needs to be done, just take care of it! You fixed the roof but never painted over that water stain on the ceiling...now's the time to do it!
Whenever an investor purchasers a home to "flip" they always do these things first because they have been proven to add value and bring back more than the costs. Any other renovations such as a kitchen, bathroom windows, etc. generally will not bring in the full cost so therefore are not worth doing (unless your a contractor and can get that stuff done for pennies on the dollar. Also the buyers may not have the same taste as you and may not be that impressed with your selection of color or materials. If you re-did the kitchen three years ago, that's great because you got to use it for three years and it will also add value to your home, even if it is not the full cost of the upgrade, at least you got good use out of it!)
There are additional things you can do which will not cost you anything but help, such as:
1) De-clutter your entire home and closets. Give the old cloths to charity. Sell or donate any furniture you will not be taking with you. Less is more, have your kids pick up their old record and video tape collections! You may even want to put some stuff in storage. You want to make sure there is an easy flow as buyer walk through your home.
2) Make sure your home is sparkling clean from top to bottom.
3) Remove all or most of your family photos from around the house. Buyer want to visualize it as their house, not yours!
If you want, give me a call. I would be more than happy to meet you at your home. Upon viewing your home and give you a full evaluation of it's value along with specific instructions on what you can do to help the cause. My office is located at 2922 Avenue R right off Nostrand Avenue. I sell homes in the area all day long, have been for the past 18 years. If I can be of further assistance let me know. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
The only thing, as mentioned, that will make a big difference is whether you have added bathrooms or square footage. Also, if you have a deck and they don't, that can also add a good amount of value.
It depends on the type of upgrades you did. While upgrades will certainly bring up the value of your home or any home, more than likely the value won't go up by the cost of the upgrades. A dollar in is not always a dollar out. I would also need to know more about the upgrades before making a judgment. Please feel free to contact me directly if I can assist you. Good luck!
Certified Buyer Representative
Senior Real Estate Specialist
Century 21 Princeton Properties
In the Top 2% of Century 21 Agents Nationwide!
Here's another source for you, too....Remodeling Magazine's Cost vs. Value:
Scott Miller, Realty Associates, Boca Raton, FL