October 2nd, 2008 
Maricel Ferrer-Custodio 
Right now, the real estate slump is big news everywhere. Everyone is urged to save for more tough times ahead.
The recent real estate turmoil is a reality check that we should spend our money more wisely. Finding value in your real estate investments is the new name of the game.
If you have to renovate, make sure you concentrate on the things that would add the most value in your house.
HGTV.com has a good list of top home updates that will provide the maximum return at resale.
HGTV’s Top 15 Home Updates
- Minor Bathroom Remodel
- Landscaping
- Minor Kitchen Remodel
- Vinyl Siding, Fresh Paint, Front Entry
- Attic Bedroom Conversion
- Major Bathroom Remodel
- Major Kitchen Remodel
- Deck, Patio or Porch Addition
- Basement Remodel
- Replacement Windows
- Family Room
- Bonus Room Updates
- Living Room Updates – Decor
- Bedroom Updates
- Living Room Updates
If you noticed, the ones that provided the most return are the ones that cost the least. Thus, spending more on renovations does not guarantee that you’ll get more come selling time.
Make sure that your total cost does not go over the market price of your property. Capitalize on the essentials and the areas which can have a maximum impact. Get several quotes to make sure you’re not paying too much for your renovation project. If you think you can do-it-yourself then do it! Just make sure that you leave the major repairs to the experts such as electricity and plumbing.
Be creative! Sometimes it can give you a better return than the most expensive decor. Browse the net for some inspirations. You can even checkout auction sites such as eBay for some great bargains.
Remember, whatever money you save now means more profit later when you sell.
Photo Source: Flickr.com by Just Taken Pics
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