I have a list of "don'ts" when discussing home upgrades for moderately priced homes:

1. Adding high-end appliances to a modest home.

2. Adding hand painted tiles in the bath or kitchen.

3. Adding a central vacuum.

4. Replacing windows with newer models.

5. Adding a swimming pool.

However, when you are dealing with luxury homes, people expect and are willing to pay for luxury. A swimming pool or a hot tub may be in order! 

The moral of the story? Keep the buyer in mind when you get a house ready for sale. 

 

 

 

 

4 Comments on Luxury Homes and Rennovations

MAY
18
2007

I was thinking about posting a similar blog last night!  Great minds... right? :)   www.estillwater.com

 

7:58am • #1
Also keep in mind the comparable houses in the area as well.  If no one else in the neighbourhood has spent $100,000 on renovations then don't expect to ask for that much higher when you sell the house down the road...
7:59am • #2
Excellent advice.  Adding luxury amenities to an otherwise average house is like putting a multi-million-dollar mansion in a trailer park and expecting to get the same for it as you would in Beverly Hills.
11:05am • #3
MAY
22
2007
1 Featured Post

Ross- yes, great minds! lol

Jon - You are exactly right! Comps matter. Putting granite countertops in a starter home is a waste of money. However, adding granite to a luxury home is a must!

Roger - love the way you put it! 

8:58am • #4

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Teri B. Clark

Sanford, NC

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Learn more about home staging and private mortgage investing by learning tips and tricks found in 301 Simple Things You Can Do To Sell Your Home NOW and For More Money Than You Thought as well as Private Mortgage Investing.


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