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Real Estate Agents questions, answered by experts

Yes, home additions almost always increase a home's value and can be a good investment by enhancing both its utility and square footage. The actual return depends on several factors, including the type of addition, quality of work, and local market conditions. Key additions like extra bedrooms, bathrooms, and larger kitchens tend to offer the highest returns. For example, adding a primary suite might result in a 63% return on investment, while a sunroom may yield around a 49% return. For the best results, additions should be well-planned to integrate seamlessly with the existing structure.

If installing board and batten fixes an issue with the home, it could increase the value, but it isn’t commonly installed for that purpose. Board and batten is an aesthetic choice and, like most aesthetic choices, will do little to raise your home’s value. That being said, certain design elements can help attract more buyers, even if your home’s price won’t see a noticeable bump. 

No, home improvement loan rates typically do not drop during certain times of the year. Interest rates go up and down based on economic conditions rather than on the time of the year. Some banks may offer slight rate discounts around the same holidays every year, but this is a marketing decision rather than a decision based on the time of the year. If you want to use a home improvement loan to fund your remodeling project, the best option is to shop around at different banks for the best rates.

If you are trying to sell a home with asbestos siding, most jurisdictions force you to disclose this in official documentation about the home. Some potential buyers may not want to purchase a home with asbestos siding, which could negatively affect their health if the siding becomes disturbed. However, as long as the siding is in good condition, some buyers may not see it as a disadvantage. You could take on the cost to replace asbestos siding if you have concerns over this material affecting your home’s resale value.

Gather details of recent improvements, property documents, and any previous appraisals or inspections.

The Socorro, NM homeowners’ guide to real estate services

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