Invest in Your Home


My friend Brian Ramsay (www.realtytrust.com/brianramsay) is a savvy real estate agent who keeps his fingers on the pulse of what is happening in the market. He sent me some great info on how to improve your property value.
You can't go wrong with a minor kitchen remodel. Since remodeling magazine first introduced the minor kitchen remodel category in 2004 it has consistently remained among the highest return on investment (ROI) projects. Last year, the minor kitchen remodel had the highest ROI of any interior project.
Consider living space additions. A remodel that increases living space is gernerally a good investment. When repurposing a room, the gerneral rule of thumb is that unused or storage areas should be converted to livable space, such as a bedroom or bathroom. Keep in mind that repurposing a bedroom is typically a bad idea; home office additons offer a low value return.
Some other good advice from Brian:
Home values made a historic jump in the past decade, and a home remains the best long-term investment opportunity. On average, homeowners reside in a home for six years. Historically, a home will appreciate over the span of six years, whcih is too long to be affected by market spikes.
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