gmhTODAY 03 gmhToday July Aug 2015 - Page 31

Five Home Upgrades That Payoff … and Five That Don’t Buying a house is one of the most important investments we’ll ever make. We are often extremely attached to our homes and put an immense amount of pride into them. There are times however, from an investment standpoint, when it’s wise to think twice about a remodeling project and whether it’s an emotional decision, or if it will truly add value to your home. Here are five remodeling projects that typically make good financial sense when considering the resale value of your home, and five that don’t.  MAKES GOOD FINANCIAL SENSE Kitchens These days the kitchen is the central hub of most households and one of the main areas of the home that home buyers factor into their decisions. It’s the place where the family gathers for meals, homework, entertaining, late night cocktails, etc. It’s no wonder that a kitchen remodel is one of the most common in terms of increasing the value of your home. In order to get the most return on your money, it’s best to use the existing layout and avoid moving plumbing, appliances, etc. Adding Living Space Newly added square footage increases your home’s value and is typically a very good investment. Regardless of the size of the addition, there are certain costs that will be incurred when adding more square footage, such as demolition of an existing exterior wall, a new foundation, new roof, exterior siding and potentially new windows, so make sure you get the most bang for your buck. Curb Appeal A potential home buyer’s first impression of a home is very important. Even if the inside is completely remodeled, some people will avoid going any further if the front of the home doesn’t have that curb appeal they’re looking for. There are a number of very affordable projects that can improve a home’s appearance, including basic landscaping and re-painting. Other more costly changes, but wise investments, are new windows, an upgraded entryway or front porch. Master Suites The environment in which you sleep is an important decision when buying a home. Potential home buyers usually pay more attention to master suites than any other bedroom in the house. Bathrooms A bathroom remodel is similar to a kitchen remodel, where you will see the most return on your investment if you focus on cosmetic cha