Home Improvements That Add Value

Published on Feb 20, 2015
Jamie Chapman, a Solutions Consultant at Quicken Loans, discusses home improvements that may (or may not) affect the value of your home. Are all improvements equal? Do all of them raise your home’s value? And do they raise it at a cost equal to the improvement (for example, a $20,000 in-ground pool would raise the value of your home $20,000)? Not necessarily, says Chapman. In fact, some improvements may not change your home value at all. Surprisingly, it’s often the smaller improvements, such as a new front door or a new garage door that add the most value per dollar spent. On the larger end of updates, kitchen upgrades are good, and they may bring you joy, but they might not add immediate value to your home. The secret is to keep your home in line with the homes in your area. If everyone has updated kitchens, then you’ll get the most value from spending money on your new kitchen. A new roof? That’s considered maintenance and absolutely necessary, so it won’t raise the value of your home. To learn more about home improvements and other great information for home owners, read the Quicken Loans blog at http://www.QuickenLoans.com/Blog

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