Are you thinking of making home improvements?
If the answer is yes, you should be cautious when making the decision, since not all renovations or improvements increase the value of the property, according to Carlos Santiago Flores, president of the Institute of Evaluators of Puerto Rico.
"The improvements that contribute to the value of the property are those that improve its functionality," said the appraiser with 17 years of experience.
These modifications, according to the expert, "take the physical condition of the property to the highest level of the market."
"By assessing it and comparing it with the others, you will take that house closer to the maximum values of that type of property," he said.
He clarified that there are instances in which the modifications that add square footage to the residence do not increase its value. As an example, he mentioned the construction of an additional room. "If additions are built and construction and zoning codes are not met, that affects the value of the property," he said.
That is why he recommended hiring an architect or engineer whenever major modifications are going to work, since these professionals know the building codes and ensure that the improvement to be carried out complies with them.
Among the home improvements that increase the value of housing, Santiago Flores mentioned:
1. Bathroom remodeling
2.Change cabinets or modernize the kitchen
3. Build a roofed terrace
4.If you have the space to do so, extend the canopy so that another vehicle fits
5.Add a room that meets building codes
6. "If you add a room, it is advisable to also add a bath," said the expert.
7. "The tanks and fixed power plants, well installed, give greater efficiency to the property," he said.