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You Will Pay When You Own Your Home Or You Will Pay When You Sell Your Home

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Real Estate Agent with 410-935-5844 Office 634480

You Will Pay When You Own Your Home Or You Will Pay When You Sell Your Home

You will pay the cost of maintaining and upgrading your home while you own your home.

Alternatively, if you do not make the investment while you own your home to maintain and upgrade it, then you will pay, at least, the same amount when you sell your home.

Obviously, a home which has not had proper maintenance or a home which has not been upgraded over time to more modern and efficient systems will not be as valuable as a home which has had these things done.

At the time of selling, not only will the home be, at least, lower in value by as much as the cost of these now necessary and required improvements, but it is likely that most buyers would want to pay even less for the home since they will have the hassle of having to do these things themselves.

If a seller does not recognize this fact, and many do not, and thinks that they can price their home similar to the homes which have been upgraded and maintained, then their home will simply sit for days and days on the market with no offers.

It would be nice if home owners did not have to make investments in their homes while they owned them and still be able to get top dollar for them when they sold them, but it does not work that way.

So, you can pay now or you can pay later, but you will pay.

Bonnie Jean Hart
Home Smart Professionals-La Quinta, Indian Wells, Palm Desert, Indio, CA - Indio, CA
Bonnie J. Hart - 25+ yrs Exp - Real Estate - L

Well said!  That is so true.  And unfortunately the investment in upgrades isn't always returned at closing with today's economy but most definitely if they aren't done and the home isn't maintained it will effect the price when selling.

Sep 21, 2011 07:11 AM
Ron Trzcinski, 410-935-5844
410-935-5844 Office - Cockeysville, MD

Bonnie,

Sometimes a seller will ask me how much value it will add to their house if they do a certain improvement.  For some improvements, it is not a matter of actually increasing the value, but rather, it is a matter of making the house salable at all versus not salable at all.

Sep 21, 2011 07:38 AM
Karen Krzniak
Zenith Realty - Towson, MD

Ron,

No matter how little they do, their house is still the best in the neighborhood.

Sep 21, 2011 08:12 AM
Ron Trzcinski, 410-935-5844
410-935-5844 Office - Cockeysville, MD

Karen,

Yes, that is their standard and ridiculous line.

Sep 21, 2011 08:13 AM
Susan Jackson
America's Network Realty Group, Inc - Sandy Springs, GA

You are correct.  Now convince the sellers of this.  They are shocked when an offer comes at a lower price and the buyer states the reasons why.

Sep 21, 2011 10:20 AM
Ron Trzcinski, 410-935-5844
410-935-5844 Office - Cockeysville, MD

Susan,

They are shocked and insulted.

Sometimes the convincing can come by taking them to see other homes which are currently on the market before they actually list their home.  Some will still be blind to the other homes' improvements over theirs, but many will be shockingly awaken to the true value of their homes.

Sep 22, 2011 05:56 AM
Kathryn Sparks
Zenith Realty - Baltimore, MD

Ron,

Good way to put it.  Even though sellers understand this, they all think that they are exempt from it.

Sep 23, 2011 06:48 AM
Ron Trzcinski, 410-935-5844
410-935-5844 Office - Cockeysville, MD

Kathy,

That's true.  They do act like they are exempt.

Sep 23, 2011 06:56 AM