To get the most bang for your home improvement buck, consider these 10 best home improvements:

1. Indoor Systems

Before you consider cosmetic improvements and even functional improvements (such as adding additional square footage) to the home, make all needed upgrades, repairs or replacements to the home’s major systems. Buyers want assurance that these basic items are in working order and won’t need to be replaced or repaired in the near future, an issue that will most likely be addressed in the home inspection.

Older homes may require updated wiring and plumbing. An old roof should be replaced. Address problems with heating and air-conditioning units.

2. Outdoor Replacement Projects

Replacement projects will give you more added value than remodeling projects, according to Remodeling Magazine. Fortunately for homeowners, these types of projects are also the least expensive and add to the home’s curb appeal. Consider replacing the garage door, siding, the front door and windows. The average return on investment for these projects is almost 72 percent.

The magazine suggests fiber-cement or foam-backed vinyl siding, adding a steel entry door, and vinyl window replacement.

3. Attic Bedroom

The number one home improvement project as far as recouping a return on your investment is the addition of an attic bedroom, according to Remodeling Magazine. At a nationwide average cost of a little over $50,000, expect to recoup 72.5 percent of the cost when you sell the home.

4. Add an Additional Bathroom

Over the past few decades, the kitchen was the average homebuyer’s focal point when choosing a home. In 2011 bathrooms became more important to buyers than kitchens. That said, an additional bathroom, even a half bathroom, adds significant value to your home, according to the experts at the National Association of Home Builders (NAHB).

A half bath may add up to 10.5 percent to a home’s value, while a full bath can tack on an additional 20 percent. Of course, the amount of additional value you will receive varies according to the home’s other features.

The price of adding another bathroom to the house varies as well, depending on region. If you live on the West Coast, plan on paying almost $50,000 for a new bathroom, according to Remodeling Magazine. The magazine also states that, at the sale of the home, you’ll recoup almost 67 percent of the cost of the addition. East Coasters can plan on spending a bit less – around $41,000, but will recoup less as well – 47.7 percent of the cost.

Tip: If you’re on a tight budget and can’t afford a bathroom addition, give the existing bathrooms a facelift. A fresh coat of paint, new fixtures and new flooring will add value and make the home show better.

5. Kitchen Improvements

Kitchens tend to be the heart of a family home so anything you do to improve your kitchen will add value. Again, painting the kitchen should be the first step, whether you plan an entire remodel of the room or just a minor facelift. Vinyl flooring tends to make the room look dated, so consider replacing it with laminate or tile. New cabinetry, kitchen sink fixtures and updated lighting will all add value.

Tip: Folks on a budget can still increase value by sanding and then painting or staining cabinetry and adding new hardware and by purchasing new (matching) appliances and new countertops.

6. Boost Curb Appeal

When a TV show can be built around this one subject, it’s a pretty good indication of its importance. Curb appeal is what beckons potential buyers into your home and underestimating its importance to the value of a home is a big mistake many homeowners make.

If you have a healthy budget, and your landscaping needs extensive work, consider hiring professionals for this home improvement project. A landscape architect can be pricey but necessary if your yard is in desperate need of an overhaul. According to Jeff Mitchell with the American Society of Landscape Architects (ASLA), curb appeal shouldn’t stop at the front yard, but should be extended to the backyard as well.

At the very least, clean the yard of any debris, trim trees and shrubs and spread fresh mulch in the planting beds. A poorly maintained front yard can result in up to a 10 percent drop in value, according to Houston appraiser Frank Lucco.

Tip: Budget home improvement landscape projects include:

• Line the walkway with solar-powered lights. The big home improvement stores carry a variety of inexpensive styles and all you need to do is stick them in the ground. Not only are they functional – lighting your way at night – but they provide ornamentation as well.

• Green up the lawn, keep it mowed and edged and reseed bare spots.

• Add color to the planting beds. Be careful to keep your color choices aligned with the home’s architecture. In other words, don’t add cottage garden-type flowers to a bed in front of a starkly modern home. Certain plants are grown because of their interesting and colorful foliage, such as hosta and coleus, and are better suited to more modern homes. If you have questions about what to plant, consult with the experts at your local nursery.

• Plant a tree. Yes, it sounds like an Arbor Day slogan, but planting a tree in your front yard pays off by helping cut energy costs in the summer (if strategically located to shade the house) and by adding value to the home. Not sure which tree to plant? Use the fun National Tree Benefit calculator to assist you with making the right choice. Just enter your zip code and the calculator will bring up a list of trees suited to your region and let you know the benefits of each.

7. Refurbish the Basement

Converting the basement to a family room, in-home theater or recreation area adds useable square footage to the home, which is one of the best ways to add value. Check out decorating magazines and websites for creative ideas.

8. Additional Storage

Most new homes come equipped with lots of storage. Older homes, on the other hand, tend to lack even some of the basic storage options, such as a coat or linen closet. If you lack the space to expand closets or other storage spaces or build new ones, consider redesigning the spaces you do have.

There are specialty stores now dedicated to nothing but storage solutions. Do-it-yourself projects may include adding a complete closet system or adding organization details to a pantry.

9. Additional Square Footage

Every 1,000 square feet added to a home raises the value by more than 3.3 percent, according to a 2003 study for the National Association of Realtors®.

While that percentage doesn’t sound significant, when you put it into numbers it makes a lot more sense. For instance, if your home is valued at $200,000, a 3.3 percent increase adds an additional $6,600 to the value.

Additionally, the 3.3 percent statistic can most likely be adjusted upward based on the age of the study. The study also claims that each additional bedroom adds 4 percent to the value of the home.

If your laundry is located in the basement, the value of your home decreases by two percent, so if you plan on adding square footage to the home, build a laundry room on one of the upper floors.

10. Miscellaneous Home Improvements

There are many small items you can add to the home that buyers will perceive as adding value. Some of these include:

• Alarm systems
• Water filtration system
• Luxury touches such as an upgraded dishwasher, whirlpool bathtub and built-in wine coolers may peak the buyer’s interest. Luxury homeowners can take this a step further by adding an in-home theater and additional spa-like features to the bathrooms.

One of the most important things to keep in mind when considering any home improvement project is to not go overboard. The value of your home is determined by the value of your neighbor’s homes, so don’t make improvements that bring your home’s value significantly over the general value of neighborhood homes. Over-improving is just like throwing money away.

Source: http://www.realestate.com/advice/10-best-home-improvements

For that reason, some homeowners are taking on remodeling projects to raise the value of their homes.

For the do-it-yourself remodeler, obtaining permits is expensive, time-consuming and sometimes frustrating, but for many home renovations it’s necessary and required.

Some municipalities charge 1% of the total construction costs to issue the permit and may take up to six weeks to complete the inspections. That’s time and money that some homeowners don’t have. Many homeowners sidestep the permit process as a result.

According to the National Association of Realtors, failing to obtain the proper permits may complicate or cancel the sale of your home. During the home inspection or appraisal process, homeowners may have to show that the proper permits are on file.

If the lending bank learns that remodeling work was done without securing permits, it will likely not make the loan.

Local municipalities issue building permits based on city ordinances. Since there are no federal or state standards, building codes vary from city to city. The only way to know if your city requires a permit for a remodeling job is to go to its website or call.

If you hire a licensed contractor, he or she will know if the job requires a permit. As the homeowner, it’s your responsibility to ensure that all remodeling is completed lawfully. Don’t assume the permits were handled by the contractor.

Renovations that likely need a permit

Fences: Not all fences require a permit, but municipalities often place height restrictions on non-permitted fences. The city of Chicago, for example, requires a permit on a fence five feet or higher, while other cities allow for higher structures.

Footprint changes: Any alteration to the footprint of your home requires a permit. This includes bedrooms, room additions, most decks, garages and some sheds.

New windows: Replacing an existing window doesn’t require a permit, but cutting a hole for a new window generally does. This includes skylights and new doors.

Plumbing/electrical: If you’re installing new or removing existing plumbing, a permit is probably required. Any job that includes installing new electrical service to your home will also require a permit. Even something as simple as moving an outlet requires a permit.

Structural changes: Any project involving changes to the support system of the home requires a permit. This may include changes to load-bearing walls, decks, balconies and porches.

Siding: Most municipalities require a permit for siding projects.

Water heater: If you want to replace your water heater, you will need a permit. You may also need a permit for ventilation system changes.

Total cost: Some municipalities include language requiring a permit if a renovation or construction project costs more than a certain amount; this may be $5,000 or more.

Renovations that don’t require a permit

Renovations that may not require a permit include:

• Painting or wallpapering
• Installing hardwood floors or carpeting
• Minor electrical repairs that do not involve new service or moving existing service
• Installing new countertops
• Replace a faucet

How do you get a permit?

Apply for the permit through your local municipal government office. Depending on the complexity of the project, some permits are issued immediately, while others may require inspection of the plans.

During the renovation, inspections of the work will likely be required. For projects involving home additions, multiple inspections may be required. Once the work is completed, a final inspection takes place and the permit is issued.

The bottom line

Most large projects that involve major changes to the structure of your home will require a permit. Because each municipality has different rules, check your city’s website or call for clarification. Regardless of who does the work, it is the homeowner’s responsibility to ensure that the project holds the proper permits.

Source: http://homes.yahoo.com/news/home-improvements-that-require-permits.html

By the time the sawdust clears, you’re not only exasperated, but also thousands of dollars out of pocket. You’re in good company, however. Many, if not most, people who start a home renovation feel they’ve gotten in over their head at some point–especially if they haven’t been honest with themselves and their contractors about the cost and scope of the project from the start. And, as any builder or real estate agent will tell you, it’s a rare individual who can be that clear-eyed.

“It’s very easy to fall into the addiction,” says George Ballantyne, head of the Sotheby’s International Realty office in Boston. “You fall in love with the project, don’t want to consider any kind of compromise. Only at the end do you realize what you’ve done.”

What you’ve done, to be precise, is overspend your budget and inflate your expectations about the value added to your home. According to a 2000 survey taken by the National Association of Home Builders, 41% of respondents named a desire to increase the value of their home as a major reason to undertake a remodeling project, yet not all improvements will pay you back when it comes to selling the property. And not all changes are really improvements, so before you build that deck or put in that black marble bathroom, read on for our list of ten mistakes to avoid in home renovations.

Original Source: http://www.forbes.com/2001/08/24/0824home.html

Transform a plain wall into a storage and display showcase by adding stacks of open shelves or cutting out the drywall to create a recessed niche. Add a display shelf above the kitchen window and cup hooks below upper cabinets.

Add Function to an Awkward Space

Transform a basic bay or box window into a reading nook. Or furnish an empty corner of the living room with a game table and storage cabinet. These features add value to your home and, when it comes time to sell, will likely resonate with potential buyers.

Accentuate the Architecture

Use simple molding or trim to draw attention to existing features, such as a high ceiling, or an attractive view from a window. Beaded board paneling adds timeless appeal. Or dress up a ceiling-mounted light fixture with a medallion for a traditional, elegant look.

Add a Fireplace

“A fireplace adds ambience that can’t be attained any other way,” says Donna Freeman, real estate expert. It adds warmth and creates a focal point for the room. Dress up the firebox with a tasteful surround and a classic wood mantel. If you opt for a gas unit, upgrade to one with the most realistic-looking logs.

Install a Bay Window

“Changing a standard window to a bow or bay window makes a room feel larger, creates a focal point, and also lets in more light than a regular window,” says Linda Lenore, design expert. To call attention to the new window and add function to the room, consider adding a built-in window seat with a bench that opens for storage. The seat will be a cozy reading spot for you and an architectural point of interest for future buyers.

Replace Your Windows

You don’t have to put up with drafty rooms. Trade in older, energy-squandering windows for new high performance units that swing in for easy cleaning. Energy Star windows can cut your fuel bills by as much as $340 per year over drafty, single-pane units.

Refinish Wood Floors

“Refurbishing hardwood floors will enhance the look and the value of your home,” John A. MacDonald of Keller Williams Real Estate in Langhorne, Pennsylvania. Just be ready for a few days of dust. If your floors are worn or stained, replacing them may be the better option. Consider splurging on wide-plank hardware floors in your foyer and living room, then scaling it back in the bedrooms.

Install New Lighting

You’ll be amazed by how well-placed pools of warm light can make your home inviting and user-friendly. Even inexperienced remodelers can easily install simple plug-in puck lights under kitchen cabinets, inside built-in hutches, or bookcases.

Maximize storage

Upgrade your closets by installing rods on two levels for hanging shirts and pants and adding pullout bins for socks and undergarments. Increase storage in your kitchen cabinets by installing a spice rack or a lazy Susan in a corner cabinet.

Upgrade Your Foyer and Staircase

The entryway is the first thing visitors will see when they enter your home, so make sure it welcomes them in style. If you can’t change the whole space, concentrate on high-impact items. Splurge on the entry flooring, or focus on improving the staircase. Sand and re-stain treads, paint risers, and replace railings and newels. Check building codes regarding railing height and spindle spacing.

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