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What is the best way to add value to your home?

In my experience of 20 years, the best way to add value to a home is to do updates or improvements. Very inexpensively, you can put something like a granite island in the kitchen and that would actually add some good value. 

I think what most people struggle with is updating and actually improving the condition of their home by enhancing the look they already have, which is inexpensive as well. We’ve had some houses that we put on the market, and for less than $200, we can completely transform a home.

Sandi Gentry is a REALTOR® with RE/MAX Lakeshore in Grand Haven, MI.

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Does having a solar system on my house really increase its value?

-Jonathan

The value of adding solar paneling and other eco-friendly options on the house depends on the rest of the neighborhood and the comparable homes in the area that are for sale. Since I am not an appraiser, I cannot assign a dollar value to any improvements on a home. I do know, however, that solar panels are an attractive feature to buyers out there since they are eco-friendly and can save you money in the long run. For example, a home with the solar panels would sell quicker than a home without the solar panels at the same price. I also know that the homes in a neighborhood with solar panels might collectively sell for a higher price than a neighborhood nearby with the same size homes and no eco-friendly features.

Unfortunately, in this market, although the median price is beginning to increase, features that improve the home do not carry as much of a dollar value as they would in a better economy, unless the comparable homes around it have a similar feature.

Arlene M. Skinner REALTOR® for Century 21 Solutions in Las Vegas, NV.

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Does having a solar system on my house really increase its value?

-Jonathan

The value of adding solar paneling and other eco-friendly options on the house depends on the rest of the neighborhood and the comparable homes in the area that are for sale. Since I am not an appraiser, I cannot assign a dollar value to any improvements on a home. I do know, however, that solar panels are an attractive feature to buyers out there since they are eco-friendly and can save you money in the long run. For example, a home with the solar panels would sell quicker than a home without the solar panels at the same price. I also know that the homes in a neighborhood with solar panels might collectively sell for a higher price than a neighborhood nearby with the same size homes and no eco-friendly features.

Unfortunately, in this market, although the median price is beginning to increase, features that improve the home do not carry as much of a dollar value as they would in a better economy, unless the comparable homes around it have a similar feature.

Arlene M. Skinner REALTOR® for Century 21 Solutions in Las Vegas, NV.

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I am looking at 10 acres of landlocked property in an area that is bringing about $7,000 an acre. This being landlocked, how much do you think it would reduce the value? -Terry

Property that lacks road frontage or clearly defined public access requires an easement for access. In this situation, this would most likely be an easement appurtenant; ingress/egress for the landlocked property across one or more of the adjoining properties would run with the land. This means that this agreement for access will remain with both parcels regardless of ownership. It is absolutely critical that any easement be adequately defined both physically and legally; litigation is usually the result of poorly prepared agreements. As far as impacting the value, that answer will vary depending on a myriad of factors, but suffice it to say that easements are not unusual or necessarily adverse provided they are clearly delineated and understood by all parties.

Hank Miller is a Real Estate Broker for Prudential Georgia Realty in the north Metro Atlanta area.

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I would like to have a Murphy full bed installed in my son’s room. Will this increase or decrease the value of the home? The room is a 10×12. I am trying to give him more space for entertaining but I do not want to decrease the value of my home. -Alma

A Murphy bed is an excellent idea with the space you have to work with. It will not increase or decrease the value of the home in my opinion. There are many more attractive beds than in the past. If someone in the future did not want it, you could easily remove it and put the room into original condition without much expense.

Phil Immel is a Real Estate Broker for Prudential California Realty in Monarch Beach and Dana Point, Ca.

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