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Thinking about Investing in your Home? Homeowners Beware

By
Real Estate Agent with Hansen Real Estate Group Inc.
Thinking about Improving your Home?  Homeowners Beware

In my experience it's rare a buyer finds the PERFECT home.  Some homes simply need a fresh coat of paint to make it perfect while others need to be gutted.  Since property values have been declining over the years I've advised several homeowners, new and old, to be careful about improving/upgrading their home.

investing in your homeMost homeowners consider making certain improvements because they have no intention of moving anytime soon, but sometimes life changing events happen that are out of our control like death, illness and job loss, which may force us to sell our beloved home.


If you are a homeowner thinking about making major improvements and even some minor improvements I highly recommend consulting with your local real estate expert.

Posted by
About the Author:
Michelle Gibson is a full-time Realtor with the Hansen Real Estate Group Inc. She has been specializing in residential real estate throughout Palm Beach County Florida since 2001. Specific areas of expertise include; Wellington, Lake Worth, Royal Palm Beach, West Palm Beach, Boynton Beach, Loxahatchee, Greenacres, Lake Clarke Shores, Palm Beach Gardens, Jupiter, Delray Beach, and Jupiter.
 
Whether you're looking to buy, sell or rent Michelle will be able to walk you through your entire real estate transaction from start to finish.
 
Connect with Michelle:

Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Michelle, There are some improvements that will never return much monetarily, so making them when you might be moving...probably best to put the same dollars in something that makes the home more marketable.  Your area sellers should definitely consult with you before proceeding!

Sep 27, 2010 08:38 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michelle

Great point, if a homeowner going to improve a property it should be for their use and enjoyment first and foremost.

Good luck and success.

Lou Ludwig

Sep 27, 2010 08:53 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

SO TRUE Michelle!  Right now in so many homes with so little equity I agree that even minor improvements need to be well thought out!

Sep 28, 2010 12:42 AM
Irene Kennedy Realtor® in Northwestern NJ
Weichert - Lopatcong, NJ

I'm with you, Michelle. It is VERY hard for a seller to recoup a major investment right now! I too have advised many against such projects.

Sep 28, 2010 01:11 AM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Liz & Bill - Absolutely

Lou - I completely agree and they need to decide carefully if it's the right time to spend money.

Renee - Especially those upside down

Irene - I have too and one recently contacted me about doing a short sale, very thankful they didn't go through with the project.

Sep 28, 2010 03:26 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Consulting a Realtor® before making improvements will set you straight on what, if anything, you'll get out of your improvements up front.  Nothing worse than dumping a bunch of money into something and thinking you'll recoop it when you sell, and NOT recooping it.

Sep 28, 2010 08:44 AM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Michelle, sound advice that can save a home owner tons of money.

Ty

Oct 03, 2010 12:09 AM