Does wood paneling in a home increase or decrease the value of the home?
I live/own a home that has "good" wood paneling in the living room. It makes the room darker than I like. I would like to cover/replace this paneling with drywall or something to brighten it up. My parents on the other hand say that the "good" wood paneling increases the value of the home. Is there any proof of this or is it their opinion? Yes, the house was built in the 60's and hasn't had much of any upgrades (grandmothers house that was inherited). Thanks for your response.
What room in my house if i remodel it raise the value of my house?
Minor Kitchen Remodel - cost recouped 92.9% "In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, refinish existing cabinets, and install new energy-efficient wall oven and cooktop, laminate countertops, mid-priced sink and faucet, wall covering, and resilient flooring. Repaint. Job includes new raised-panel wood doors on cabinets." ~ Cost vs. Value report http://www.remodeling.hw.net/industry-news.asp?articleID=79166§ionID=173 SO... according to this report... even the number one remodel will not raise the value of your home. I agree with everyone who says that painting and a really good cleaning will help.
Does painting the brick on your house increase, decrease, or have no effect on the home's value?
I had to have my fireplace chimney replaced because the painted bricks had deteriorated. The paint holds in moisture. This was an expensive repair, Never paint brick on the outside where its exposed to the elements. Try staining if at all possible.
How do I decide how much to invest in remodeling my house?
The answer depends on how long you PLAN to stay. Plan A:If you want to stay for 10-20 years, then remodel based on what you want for your own personal enjoyment. Upgrade utilities, redo a bathroom, update the kitchen, replace windows and doors, do energy improvements, etc. Plan B:If you want to move in 2-5 years, then do NOT do any major remodeling because you will NOT recoup the money spent in property value. This will be a waste of money, time and energy, and you will regret all of it. Your concerns are 100% valid because most remodeling work will NOT turn into real market value immediately. But it will increase your property taxes immediately (haha). But some work does give instant value, depending on the current appearance and condition of the house. 1. New exterior wood or fiber cement siding (not vinyl) if the house had a run down appearance before. But make a pretty house pretty again does not increase value. 2. Removing old carpets AND refinishing hardwood floors that were obscured before. 3. Replacing a very old furnace or AC unit. This doesn't actually add value, but actually reduces risk for the next 10 years or so. 4. Replacing a very old ugly roof with new Lifetime Warranty Architectural shingles and new flashing. New 3-tab shingles will not raise value. 5. Repainting the interiors and exteriors if that's an option. Hope that helps. NOTE: I started with this "The answer depends on how long you PLAN to stay." because I understand that life happens. Things change. Kids come and go, jobs come and go, spouses come and go. So base this on your expectations with the understanding that the rug could be pulled out from under you at any time, and you better have a Plan C if that happens.
If we're trying to increase the value of our home, would painting knotty pine paneling be a bad idea?
i like wood too...we're planning on selling this house one day and building a log cabin, but this house is in the middle of town. we just don't want to paint or whitewash it, and then learn that if we had've left it woody and extremely chiny with varnish (like it is now), that it would've appealed to more buyers.
Do double wide or modular homes decrease in value?
All buildings depreciate, even stick built houses. Mobiles are said to depreciate faster, but I guess it depends on your area, because my 20 year old mobile is still worth about what it would have been when new, according to local real estate listings and my property tax assessed value. Perhaps they depreciate faster as they get older. I guess I'll find out one day. If you look after it, it will hold its value better. If you put improvements into the lot, that can increase the value of the lot. It's important to separate the value of the lot from the building that's on it. Land is very likely to appreciate eventually. Houses, not so much. The advantage of a mobile on your own land is that you can own one and stop paying rent, sooner than you can buy a more expensive conventional house.