The Real Estate Market May Stumble, But You Don't Have To:

Home Improvements That Count.

In our current housing market nothing is more important then making the right moves. Due to this, questions begin flooding your mind making you wonder if you should listen to your head or follow your gut.  Should you sell now so you can buy at a lower cost, or just sit sight where you are?  Will more value be gained by making home improvements thus in turn creating a larger profit and bigger return?  I will put all of your worries at bay by easily walking you through the most efficient methods of adding value to your home.

To begin, home improvements that are executed on a larger scale, may in fact add greater value, but also hold a variety of great risks.  These improvements must be determined by the neighborhood in which you reside.  For example, it would not be economically advantageous to put an excessive amount of money into improvements which would cause your homes price to overly exceed the neighborhood in which it was built.  In order to properly determine this, a market analysis can be completed on your home by a real estate professional.  To assist in accurately determining the correct investment amount, never exceed 20 percent of your neighborhoods mean value. 

Enhancing your home with luxuries such as a swimming pool, putting green, or tennis courts are known as "Single Use Improvements".  These improvements may in fact tickle your fancy yet leave others questioning their existence thus reducing their return.  With today's market in mind, may current home buyers will find these added luxuries as a deciding factor in purchasing a home.  An interested buyer may by lost due to these personal improvements.  When looking at the grand scale of the housing market, you as a seller will not receive a great return on your investment. 

Moreover, simple improvements must also be well thought out.  Contrary to the fact that you greatly enjoy lime green walls in your atrium, another buyer may shy away from purchasing because of this.  Due to the fact that we have such a wide variety of home inventory available for purchase even the slightest personal touches much be completed with a purpose.  Although paint costs barely exceed $100.00 their effects can cost you a $250,000 home offer.  Using neutral colors while smartly staging your home, will allow your potential buyer to perfectly picture themselves in your space.     

Lastly, the improvements that have the largest effect over the general public are surprisingly no brainers.  Up to date kitchens with a spacious interior will encompass new cabinetry and countertops with matching appliances.  Additionally, adding another bath while updating an existing bathroom are the number two best improvements to add to a homes value.  Due to the fact that the kitchen as well as the bathroom is so frequently used, it is no surprise at their importance.  While inexpensive room additions, decks, patios and energy efficient accessories are other ways of guaranteeing return.

These changes are very distinct for each family and each neighborhood, yet the overall idea is straightforward and applicable to all.  I can guarantee that with my competitive market analysis of your home, any improvements will be those of great worth. 

Kevin Monahan -- Weichert Realtors

Phone: 860.377.7665    Email: kmonahan@weichert.com

Suburban Properties