We've had some clients tell us about how much landscaping they've done, how much remodeling inside, painting, new carpet, new cabinets, new HVAC systems, etc. These things are great! However, remember if you are selling your home you will not get dollar for dollar back on these investments. Your home will be compared to other homes in the same area that have sold. Realtor's look at what comparable homes have sold for recently in your immediate area and try very hard to price a home close to the market value of the property. If you go above market value typically your home may sit on the market longer than someone who prices their property at or below market value. Upgrades without a doubt help sell a property and in turn help you get top dollar for your property. Price, condition and location are what will sell a home. Do those upgrades, just keep in mind that you are upgrading to get top dollar for your home, but if you overprice the chances of your home sitting on the market for a long time, people wondering why it hasn't sold and the home becoming overexposed are greater.
Being on the mortgage side of things, when I hear clients tell me about their upgrades and how much that should add to the house value I am hesitant to believe them. With the way appraised values have been coming in recent months, homeowners need to realize that what they believe their home is worth may not exactly be what the market reflects or what someone is willing to pay for it. --- Great post!