Alabama residents residing in Pelham, Trussville, Leeds, or Bessemer may not think about the resale value of their residence when purchasing a residence, as they should. Birmingham has plenty of houses that could earn homeowners a bigger return on their investment. Considered one of the most popular markets at the end of 2014, Birmingham’s domestic market is expected to grow by 7.8% this year. Home prices are up 6 percent, and the median home costs $174,000 in this city. The revival is drawing householders to the region.
What will add value to your property? In many cases, smart home improvements can add value to your house. If most houses in the city have two bathrooms, including an extra bathroom in a one-bathroom house can increase its value. The value of your home can be affected by the wrong choice. Until after buying, some homeowners don’t think about a home’s resale value; they should feel it before they buy the house.
Rent can hurt or help a home’s value
Location really is everything, and a home that is in Birmingham’s Avondale Park district, an area of the borough, may market better than one located on one of Birmingham’s busiest streets. Many households and couples want a home that is minutes from Birmingham’s city center, without having to listen to heavy traffic.
Avondale Park is popular and members and families may have to search for a while to find a 1920’s Federal, Georgian or Tudor farmhouse in this location. You will find many neighborhoods to decide. Be sure to add outdoor enhancements, such as planting a vegetable garden, they will add value to your home.
remodel kitchen
Appliances, including a dishwasher, sink, stove, wall oven, and built-in microwave, can add value to a home. It should not stop there. Flooring with this change and hardwood can increase the value of your own home. You could also add seating, countertops, and a homework space to your home’s value.
When you remodel your kitchen, consider the cost versus what you expect to get in return. You will need to spend more money than you expected to remodel. But if done right, a leading large kitchen remodel should return web owners at least 68.9 percent of their expenses when they resell their property, according to Remodeling Magazine.
tackle a bathroom
Did you know that first-time homeowners would generally opt for a two-bathroom home, if it costs less to get a one-bathroom home and install a second bathroom? How much will a bathroom add to the value of a home in Birmingham? On average, Birmingham homeowners can expect to recoup 65.2 percent of their investment after a renovation.
What is really going to increase the resale value of a bathroom? If you change the fixtures, such as adding a tiled bath or 2-person shower, you can increase the value of a sink. If you’re updating a toilet, don’t forget the little touches. Install light fixtures, a modern mirror, and a new vanity. It might be great to splurge and buy floor tiles or buy an energy efficient toilet. Keep in mind that unintentionally including bathrooms can decrease the value of your home. It is not enough without having one of those as a main bathroom to have toilets.
increase space
Adding storage space and a family room could be a smart addition that increases a home’s value. Your house may not necessarily require a living room if there is enough space for the whole family to come together comfortably. It may be more meaningful to get space to store material. Walking cabinets are primarily with smaller cabinets for properties and may not market well to all homeowners.
It is best to think about what a buyer would want before buying a house. If he does this, he will know the resale value before he puts your house up for sale. Look at the trends; what’s popular today may not be tomorrow in your chosen Birmingham neighborhood.