Beware of Cost vs Value!

Real Estate Agent with Inactive

Most Expensive Home In The Neighborhood:

Consumers don't seem to understand that buying the most expensive home in the neighborhood isn't a wise decision. You must consider that if you buy the most expensive home in the neighborhood that your home may help to increase, or at least help to maintain the property values of the other homes, but not your own.  With yours being the higher priced home, there will not be other homes in the neighborhood comparable to yours, which is needed to increase or maintain your home's value.  In fact, the lower priced homes could lower your home's value.  In real estate, location is truly everything.  With your home, you want it to be comparable to the other houses in the area in which you live.


Home Improvements:

Improvements are something else to be careful of when your goal is to increase the value of your home.  This is along the same principal as buying the most expensive house in the neighborhood.  You would never want to improve your home beyond the values of the other homes in the neighborhood; you can't recoup what you've spent.  I found this report to be of help on the subject   Cost vs. Value Report.  I hope it will be of help to you as well, should you be considering making home improvements.



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