Q: Do baseboards increase home value?

• <div><p>Fresh baseboards can increase a home&rsquo;s value because they refresh the look of your walls. This can make a good impression on buyers and potentially boost your home&rsquo;s resale value. This is particularly helpful if your existing baseboards are in bad shape, which can age the look of your walls. </p><p>Consider also investing in the <a href="https://www.angi.com/articles/cost-to-install-shoe-molding.htm">cost to install shoe molding</a> for an extra-polished look that can further boost resale value.</p></div>

Q: Should you ever pay more than the appraised value for a home?

• <div><p>Ideally, you&rsquo;d never pay more than the appraised value for a home, but there are some instances where it makes sense to do so. For example, if your current living arrangements are no longer viable and you need a place to move into quickly, paying more than the appraised value might be in your best interest to secure a new home. Additionally, if you&rsquo;re buying in a hot market, overpaying for the home might be necessary to overcome the competition.</p></div>

Question 1

Do baseboards increase home value?

Accepted Answer

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Fresh baseboards can increase a home’s value because they refresh the look of your walls. This can make a good impression on buyers and potentially boost your home’s resale value. This is particularly helpful if your existing baseboards are in bad shape, which can age the look of your walls.

Consider also investing in the cost to install shoe molding for an extra-polished look that can further boost resale value.

Question 2

Do basement bedrooms count on an appraisal?

Accepted Answer

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Basement bedrooms can count toward your room count and the square footage of your home on an appraisal if they’re fully legal, which means they have proper ventilation and points of egress, as defined by your local building code. Simply partitioning off a space for a bedroom in an otherwise unfinished basement that isn’t a legal living space won’t affect your appraisal value.

Question 3

Should you ever pay more than the appraised value for a home?

Accepted Answer

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Ideally, you’d never pay more than the appraised value for a home, but there are some instances where it makes sense to do so. For example, if your current living arrangements are no longer viable and you need a place to move into quickly, paying more than the appraised value might be in your best interest to secure a new home. Additionally, if you’re buying in a hot market, overpaying for the home might be necessary to overcome the competition.

Question 4

What is the difference between a quote and an estimate?

Accepted Answer

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An estimate is more informal than a quote. Estimates are based on the contractor's prior experience, and they are expected to be off by 10% to 15% of the actual project cost and timeline. Quotes are more formal and require far more detailed information outlining the scope and cost of the project, including a thorough inspection of the area where the contractor will work. This is because the quote is expected to become a binding contract while an estimate does not have this expectation.

Question 5

Does a composite or Trex deck increase home value?

Accepted Answer

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Yes, adding a composite deck, such as one made from Trex, can significantly increase your home's value. It is a valuable home renovation for recouping costs, with some estimates for return on investment (ROI) ranging between 60% and 70%. More recently, Remodeling's 2024 Cost vs. Value Report suggests a deck addition has an ROI of 82.9%, with an average resale value of nearly $14,600. A new deck makes your yard more functional, enhances the landscape's aesthetic, and can entice prospective buyers. The investment may have a higher return if the deck adds usable square footage to the property.