8 Appraisal Facts: How Home Improvement Adds Value

As summer takes off, many Williamsburg homeowners are beginning home improvement projects. Whether you are redoing your deck or putting in a fire pit, it’s important to keep in mind that not every home improvement project adds value to a home and some improvements are merely preferences that don’t translate to a higher asking price when listing your home.

Here are a few important facts from The Appraisal Foundation that will help you as you make decisions on what home improvement projects to tackle this summer.

1. The total spent on a remodeling project does not always add up to the same amount of value when listing a home.
2.  Typically, renovations that receive the most return on investment are new front entry doors, kitchen remodels, and bathroom remodels.
3. Your remodeling project may not be as valuable to a buyer if they can have the work done at a lower price.
4. Energy efficient improvements, such as energy efficient windows, typically increase the value of a home.
5. Your location plays a big role in what renovations are valuable to a buyer.
6. Routine maintenance and inspections can’t be overlooked and are just as important as home improvement projects.
7. Although a tidy house isn’t listed on an appraisal, clean, orderly spaces are easier to inspect and leave a much better impression.
8. Maintain records of all renovations, inspections, maintenance, and repairs that you’ve done on the home.
9. Don’t be afraid to communicate with the appraiser about work that you’ve put into your home.

While the real estate market is always changing, this concept is consistent. The value that home improvement projects add to a home is completely dependent on how much a buyer would pay to have that project done. This means standard renovations like new windows, entry doors, or siding translate well to a buyer because they will eventually need replaced, no matter the homeowner’s preference. However, unique home improvements, like a backyard pizza oven, may not always increase your home’s value because not every buyer would find that feature enticing.

To learn more about remodeling and how it affects the appraisal of your home, check out this article from Huffington Post here.

Mr. Rogers Windows is committed to helping homeowners in the Williamsburg area prepare their homes before an appraisal. If you are looking to install energy efficient windows or doors that will increase your home’s value, contact us today!