Fred Mullins, Donna Mullins, & Erin Biby
Coldwell Banker Schmitt Real Estate Company
1201 White Street Ste. 101 Key West, FL 33040
Homeowners are opening their wallets. A rebound in the housing market has made homeowners more willing to invest in home improvements that could boost the value of their homes in a rising market.
If you’re looking to sell, you should know that not all home improvement projects increase the value of a home.
Here are a few tips to help:
1. Consider all buyers. A great example of this is installing a pool. Some buyers may not be willing to take on the expense and hassle of maintaining a swimming pool. Or they may have small children and a swimming pool can be a big safety risk.
2. Don’t ‘over improve’. It’s safe to say that updating your home’s cabinetry and appliances will boost the resale value. You just don’t want to go overboard. Don’t select finishes that go above and beyond what buyers would find in similar homes in your area. It won’t pay off in the end.
3. Make repairs and curb appeal your first priority. Expanding the size of your home or remodeling the kitchen may seem like good ideas when selling your home, but if you need a new roof or to repair window seals, these improvements won’t mean a hill of beans! Repairing things that need fixing in your home may not be as aesthetically pleasing to you, but they make your home easier to sell.
4. Consult an expert. Before moving forward on a home improvement project, consult with a real estate agent or an appraiser who knows your market. Let them know the ideas you have for your home and they should be able to explain how the upgrade could affect the sales price of your home.
Information obtained from: http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=297366