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.
Most 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.
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!
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
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!
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.
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.
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.
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