Do Home Upgrades Payoff?
First off, if your making home improvements you probably wonder will those home upgrades payoff. Home upgrades can be expensive and you want to make sure you get a good return on your investment. The concept is known as contribution and it can be kind of tricky to calculate. However, I will help you determine will your home upgrades payoff in the end. I recently started tackling our outdated kitchen. We transformed our kitchen with some elbow grease and supplies from the local home improvement store. In other words, I’ll teach you to never fear an ugly kitchen again. Let’s get started.
Vocabulary: Contribution
Contribution means that any feature or item in a home is only worth what it contributes in value to the home. First, you will want to take a look around your neighborhood and see what the other homes feature. For example, if you live in a subdivision that only has 2-3 bedroom homes, adding a 4th bedroom would probably not add much value. The goal is not to be the nicest house on the block. When you are, the other homes will drag your value down. Conversely, if you have the worst home in the area, your property value will be increased by the neighboring properties. Make sure you upgrades match what your neighbors can afford. Lastly, don’t wait till your ready to move out so that you can enjoy the upgrades yourself.
Cabinet Transformations
For example, after staring at our stock 1980’s cabinets for 2 years I decided it was time for an upgrade. For starters, replacing all the cabinets would have cost thousands and they are in great shape. After research, I selected Rust-oleum Cabinet Transformations tinted Espresso. The whole process took about a week and I couldn’t be happier with the results. However, it is imperative to follow the instructions and take your time. Next up, I will be refinishing our counters and installing a new back splash. Don’t miss out or hesitate to contact me for help buying or selling your home in Arizona. Happy home improving!
