Q: I am thinking about making a home improvement to my house. What are the renovations that will add value to a home?
Margaret Rivera, Abingdon
A: Generally speaking, although homebuyers are willing to pay a premium for a house that has recently been renovated and that is in excellent condition, sellers can't always expect to recoup dollar for dollar on all the renovations or improvements that they've made to their house.
Sellers usually recoup less of their investment on recent renovations than on home improvements that were done several years ago.
According to home improvement companies, the renovations that add the most value are remodeled kitchens and additional bathrooms. Kitchens and bathrooms usually can return anywhere from 80 percent to 100 percent of their cost.
Renovations such as a deck or French doors that improve the indoor/outdoor living of a house usually have a high return value. How well the improvement fits in with the house, as well as the neighborhood, is important. An improvement that looks out of place could even diminish the value of a house.
Master bedroom suite renovations and family room additions are usually profitable. And a third bedroom will usually add value. But unless your home is in a more expensive neighborhood, the addition of a fourth or fifth bedroom may not add that much to the value of the house.
Be careful not to overimprove your house. Make sure that the increased cost of your home is in keeping with the surrounding houses in the neighborhood. It is also advisable to keep copies of the building permits and any architectural plans used for your home improvement or renovation. These might be helpful when the time comes to sell your home.
Q: Can the buyer waive the right to receive the Maryland seller disclosure/disclaimer statement?
Stan Richter, Parkville
A: Absolutely not. Any attempted waiver by the buyer is automatically void. Unless otherwise exempt, i.e. new home or foreclosure sale purchase, the seller must comply with the law.