How do home improvements add to the value of a house.
Are you thinking of buying a home and putting in a house offer?

Even when comparing exact model matches within a subdivisiont of homes, you should note whether the previous owners have made any substantial improvements. Cosmetic changes should be largely ignored, but major improvements should be taken into account.  Just because it is painted or landscaped nice doesn't add huge value. 

New windows, new roof, new furnace are a little plus but doesn't add  huge value.  We expect all homes to be in "working condition" or "fair condition.  Most important would be room additions, especially bedrooms and bathrooms.  If you are getting more square footage, more bedrooms, or more bathrooms for the same price then that is a better deal.  

Major upgrades, such as a complete kitchen remodel, can be considered also. If all the homes you have been looking at need new kitchens, but one has a new kitchen.  And that home is asking $10,000 more!  The question is how much would it cost to bring the others up to the same standard.  Of course then you could do it the way you want.  But if it cost at least $20,000 to do a kitchen and the other homes are very similar.  Then the one that costs only $10,000 more is a better deal.

Over the top improvements should be discounted.  Sure a spa, granite counter tops are great but they don't  add huge value.  If granite counter tops cost $5,000 it doesn't add $5,000 in value.  Other items, such as expensive floor coverings or swimming pools can be taken into account also, but should be discounted.  A pool that costs $20,000 to install does not normally add $20,000 in value to the home.   A pool may not add value at all.

The bottom line is that additions, square footage, extra space, extra bedrooms, extra bathrooms, more usable space, larger garage give more value.  Remember when looking at Michigan houses for sale to compare apples to apples as much as possible.  Plymouth and Livonia real estate may be less expensive than Northville or Novi real estate. 

                                                           Good luck on your offer.
                                                                                  Russ Ravary

Wing Lake homes for sale

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Belleville Lake Sales are a great way to compare the price of your home. 

Market Watch for Buyers

 I would recommend Lime Lake to look for a home on. 

Cooley Lake Sales

$109,900

6354 Buckingham Avenue

Allen Park, MI

Beds: 2 • Baths: 1 full

$149,900

0000 Knob Hill Drive

Commerce Township, MI

Beds: 0 • Baths: 0

$274,900

144 Bobolink Avenue

Commerce Township, MI

Beds: 3 • Baths: 1 full

$295,000

22800 Purdue

Farmington Hills, MI

Beds: 3 • Baths: 1 full

$244,900

0000 Burgess Drive

White Lake Township, MI

Beds: 0 • Baths: 0