It doesn’t matter whether you recently purchased a house or you have lived in yours for quite a while, the most immediate way to increase your home’s value is to begin by creating a well thought out what-to-do plan. You shouldn’t begin work on a project without having your resources in line and your specific household plan ready to go. When you do your pre-upgrade preparation at the start you’ll be much better off. Otherwise, if upgrades may be done on impulse and not as you have proposed. Home improvement undertakings typically cost 20 to 25 cents of each dollar spent. The remaining 75 to 80 cents spent go directly back into the home thereby increasing its value. There are large numbers of home owners remodeling their homes in today’s turbulent market as well as many new homeowners who want and need to make improvements and upgrades to those homes as well, and there's plenty of help such as Home Depot's Home Improver Club.

Before doing anything, reflect on what your end goal is. The next step is to estimate how long you plan to remain in your home before contemplating any upgrading. It’s best to start slowly and if your home is new, get acquainted with it. If you have already been there a while, still use care but because of the familiarity you can get started a little quicker. Try to make a list the things you desire to modify and the updates you would like to make. Don’t worry about organizing the list right now, just get it all written it all down.  When you finally decide to sell be sure to talk to your local realtor and develop a sales plan. You may also wish to work with a professional home staging company to get your house sales-ready.

Now that you have done some of the preliminaries, you should take the list you created and start to categorize each item by how much it may cost, making sure to include the value of your time and money. It’s ok to list an outdoor barbeque pit or wrought iron fence if that’s what you want, but keep your financial picture in mind to avoid financial disasters. Let your wallet do the talking and not your eyes or your heart. You might also gather images of home designs you like and perhaps do some on-line research. Once you have your list categorized, really study it so you can prioritize what is a real “must have” and what is more of a dream. The goal is to come away with a reasonable balance. Now that you have prepared a plan, do research or talk to a realtor to see what kind of return those improvements may bring. Some improvements will bestow considerably more value to your home than others. To avoid costly mistakes speaking to your realtor is critical because, as a professional, they will know what the best upgrades are in your region.

If you decide to do more moderate home improvements these can truly pay off too. Are you torn between improving your home’s decor versus making upgrades you know will step-up your home’s resale economic value? Numerous homeowners are surprised to learn that performing a little of both types of improvements will actually pay off.

To figure out which way to go with this write out two lists one for upgrades for your home value and the other showing upgrades just for you. Upgrades for your home may consist of substituting old faucets, permanent lighting and doors and cabinet handles, new paint. While upgrades for your benefit might be new or different furniture, hanging artwork and window treatments and so on. With this program, you will see actual progress and you no longer have to use the dartboard plan of attack to selecting projects and wondering if what you are doing is really making a difference.

Do I upgrade the kitchen? Yes, absolutely. If you ask any real estate professional what the #1 upgrade with the greatest payoff is, you can be sure that #1 the answer is the kitchen.

  • How about just a small remodel job. Try changing the paint colors or schemes in different rooms or even the exterior. It seems too simple, but it is very effective. You can also paint or re-face a faux-wood finishing onto your cabinets.
  • Add a sprinkle of color with a new back splash. Many situations may call for new tile which exudes pride and value. Home improvement stores teach classes on this and many other aspects for home remodeling.
  • And don’t overlook the proven fact that many potential home buyers are often attracted to stainless steel appliances. The cold feel of steel is a hot ticket item for buyers. Changeover your appliances as they wear out.
  • Go with a similar all-metal look in your light switches. Make your kitchen rock-and-roll with a rolling island.
  • Install a pot rack and add some clean new pots, pans along a hanging wine bottle holder. If you chose to put in a roaming island, your kitchen will capture every buyer’s eye. The upshot is better home value and you can take some of these items with you to your new home.

To answer the question that started this off, you should weigh the benefits of home improvements versus selling, decide if this is this a good time to sell? Should I remain or should I go? Should I do home improvements? These are questions causing many homeowners to think very seriously about it and believe me, you are not alone on this one. Many home owners are confronting these questions daily.

One of the best methods to recognize if there is more economic value for you in fixing up, or moving on is:

First, you calculate your costs to purchase another home. Add up the realtor and home selling costs (packing, moving and the new loan financing). Don’t forget hidden items. What if the buyer requests that you replace or substitute the carpet before you sell. Or, what if you have to replace appliances? Make your best effort to include everything it will cost, in time and money, to sell your home and buy a different home. Then, estimate what you can get for your house and how much cash in hand you’ll have to put down on a new home.

Second, if you like your neighborhood, your neighbors and your school district, you might consider doing some remodeling. That way you can get exactly the home you desire and you won’t risk buyer’s remorse. Approximate the cost of doing the most essential renovations necessary for you to stay. Decide what you would like to do and go price shopping at your home improvement store. Contact licensed contractors and get estimates. This is particularly crucial if you need to add on extra square footage.

Now you can intelligently look what it would cost to move versus what it would cost to remodel. Add in the unknown factors that have value to you such as neighborhood friends, acquaintances, schools and shopping. When you evaluate all of this from a rational point of view, you may find you get more equity by remaining in your home and remodeling.

Weigh the benefits of home improvements as opposed to selling. Should I go or should I Stay? Believe me, you are not alone on this one, many home owners are confronting these questions daily.

If you do decide to sell, Lowes has a great website for helping you to plan for that too "Lowes Moving". Make sure you read my Blog on the best marketing methods for selling your home too.