(ARA) - If you're like most Americans, then your greatest asset is your home. But with recent declines in home values, it may be time to consider options for preserving your home's value. Since the value of your home is directly tied to its condition, there are steps you can take to help preserve that value.

Step 1: Where to Begin, Indoor vs. Outdoor

Preserving the value of your home can be achieved in many ways, but your home's exterior should be your initial focus. Remodeling Magazine's annual Cost vs. Value Report shows exterior and replacement projects bring the biggest return. Before you decide where to begin, you should consider the following:

• Budget -- set one and be realistic.
• Goals -- narrow your scope by determining exactly what you want to achieve.

Step 2: Do Your Research

Depending on the region of the country in which you live, the value you gain from exterior home improvement projects can vary widely. Consider this; a midrange siding replacement recovers 92 percent of its cost in the Northeast but only 77 percent in the Midwest, according to the Cost vs. Value Report. Exterior projects that typically recover cost well include a roof replacement and the addition of a deck.

The cost recouped on a given remodeling project also depends on the value of similar homes nearby and the rate at which property values are changing in the surrounding area. Even the availability and cost of new and existing homes in the immediate vicinity can be a factor.

You may want to consult with a local remodeler or real estate agent to learn more about the specific issues affecting the value of home improvements in your area.

Step 3: Pick a Project

Now that you've set a budget and completed your research, it's time to select your project. A great place to start is your roof. "A roof used to be nothing more than protection for your home from the elements," says Stephen McNally, vice president of sales and marketing for TAMKO Building Products, Inc. "Today homeowners look to their roof as a way to increase their home's curb appeal and overall value."

When selecting a roofing material it is important to remember the following:
* Performance is as important as curb appeal.
* Select a product that is backed by a solid warranty.

A majority of homeowners prefer asphalt shingles because they perform well and are typically the most cost effective option, but many alternatives are now available. One alternative growing in popularity, which could potentially increase the value of your home, is composite roofing.

Composite roofing products are typically backed by longer warranties, like the 50-year limited warranty available with Lamarite Slate composite shingles. These shingles create the authentic look of a classic slate roof without the high-cost and performance issues. Other alternatives include metal, rubber and concrete. Be sure to do your research before selecting a roofing material that will work for you.

Another potential exterior project is the addition of a deck. When selecting a decking material that will help preserve your home's value, it's important to think about the following:

• Durability -- you want a product that performs well and will last.
• Maintenance -- deck maintenance can be costly. Consider low-maintenance materials like composite (a combination of wood and plastic).

A natural wood deck can lead to costly, time-consuming, annual maintenance. Composite decks, which may cost more initially, generally never require painting or staining. After all, you should spend more time enjoying your deck than caring for it. Composites typically come with a longer warranty as well. For example, EverGrain-brand composites are backed by a 25-year limited warranty.

No matter what project you choose, maintaining the value of your greatest asset, your home, should be a top priority.

Courtesy of ARA Content

The Key to Increasing Home Value

(ARA) - With the slowdown in the real estate market, more people are looking for ways to add value to their homes and make them stand out from the rest. One area that is of high interest to both buyers and home investors is the bathroom.

According to Realtor Magazine, the national average return on investment for bathroom remodeling is between 93 and 102 percent. In large metropolitan areas, the return ranges from 116 to 136 percent. So, many people actually make money when investing in a bath remodeling project.

"The bathroom is one of the most highly valued areas of a home," says Eric Saviskas of Bath Fitter, a custom bath, shower and wall company. "There are ways to refresh a bath area at a fraction of the cost without the hassle of a traditional bath remodel while adding value to your home."

Here are some things to consider so you get the most out of your remodeling dollars:

* Bathtubs and Showers

The focal point in most bathrooms is the bathtub or shower. Sprucing up the main focus freshens up the entire bathroom. One option that is much easier than ripping out the old tub is to have an acrylic bathtub liner installed right over your existing bathtub. Bath Fitter can build a custom acrylic liner to go over your bathtub or shower and wall surround.

The high quality material is easy to clean, has a lifetime warranty and is a permanent solution. The process takes about a day, meaning your bathroom won't be out of commission for weeks. Visit www.bathfitter.com to customize a look -- including color, style and accessories -- that is perfect for your home.

* Light Fixtures

Lighting is an essential element in a bathroom, but over time lighting trends change and bathroom fixtures can get worn from shower moisture and other byproducts of a daily routine. Replacing fixtures with modern designs can make a bathroom pop with decorative style that not only looks good, but is functional. There is a wide price range for light fixtures, so you can easily pick one that fits your budget.

* Wall Color

A new paint color can dramatically enhance the appearance of a room and the good news is that bathrooms are usually smaller in size so you can paint them in a day or two. Remember, when painting a bathroom you should use a mold- and mildew-proof primer.

What colors are popular right now? The bathroom is a room where many people experiment with bold designs that they might not consider in larger areas. Rich red and coral tones paired with white can give a clean and upbeat look while blue tones paired with creamy, sandy details can give a spa-type appearance. Standard light colors are always good, so feel free to choose what you like best.

* Details

Finalize your bathroom remodel by adding several new accessories. How about new towels that match your wall and tub color? Or a new soap dish and organizational rack to clean up the countertop? You can update your drawers by changing the handles to a modern-looking chrome or brushed-metal style. Small details are the icing on the cake and can be a great way to finish a room without a lot of cost.

"Bathrooms can be enjoyed by the current homeowner and add value if they ever choose to sell their home. These ideas can revamp a bathroom on a budget in as little as one day and I think you'll be surprised at the results," says Saviskas.

Courtesy of ARA Content