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But we have granite!

By Alex and Deirdre Silberman

Real Estate Agent with Keller Williams

March 23, 2011 05:15 AM

But we have granite is one of those comments home owners make that both make me cringe and feel badly. Home owners are generally smart about many things however when it comes to assessing the value of the improvements in their home the line between financial investment with a return in mind and simply doing something because it brings them joy gets very blurry.

Many people have an intuitive sense on what it means to be the nicest home on the block, however that’s usually a superficial judgement from the outside. How many homes don't look particularly grand on the outside only to find the homeowner spent $75,000 on an exquisite marble bathroom on a $400,000 house?

I saw a bathroom just the other day that would have fit nicely in a home ten times what this home was worth. Can we say the owner threw caution to the wind and just wanted that bathroom for the enjoyment of it for as long as he or she was in that home? Somehow I don't think so. We've seen plenty of homes where the new owners ripped out the pink marble to put in the blue marble. Cost? tens of thousands. Change in value? pennies. Lesson? Priceless.

A home can be both a sound financial investment as well as a sanctuary where certain things are done simply for the love of it. Knowing the difference makes for a happy homeowner and seller.

Now don't get me started on the equivalent of 'we have marble' for buyers....But we're paying cash!

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Fred Hernden, CMI

Superior Home Inspections - Greater Albuquerque Area - Albuquerque, NM

Albuquerque area Master Inspector

You're right, there is a fine line there. If you want granite countertops, do you ask yourself if it will bring value back to the house if you sell? Probably not, you just want granite countertops! I don't think too many people make improvements to their home just for the sake of resale value unless that is why they're doing it in the fiorst place.

Have a great day guys, good post!

Mar 23, 2011 05:20 AM

Ryan Frost

Compass Lending Solutions, LLC - Draper, UT

So tell me a little bit about your house... "It has 4 bedrooms, 3 bathrooms, granite counter tops, a two car garage." Invariable they mention the granite counter tops! I got a laugh out of your post.

Mar 23, 2011 05:22 AM

Alex and Deirdre Silberman

Keller Williams - Millburn, NJ

You're right that most people don't ask themselves that question, however it goes beyond that. Many people who didn't ask themselves the question when they had no intention of selling simply assume they increased the value of their home when the time does come to sell.

Mar 23, 2011 05:28 AM

Caroline DeVore, Stowe Vermont Lodging, VT Bed and Breakfast Inn, Vacation Homes

Stowe Meadows Lodge, Stowe VT Romantic and Luxurious Inn - Stowe, VT

Caroline DeVore | Stowe Meadows Lodge, Stowe VT

On the flip-side, haven't you shown houses where people say, "but it doesn't even have granite counter tops" as a way to justify a lower offer or a way to compare two houses? It's funny on both fronts and the great news is Realtors can help folks on both sides of the fence understand the true value whether it's granite, modern baths or heated garages. Thanks for the post!

Mar 23, 2011 05:33 AM

Yes, granite seems to be the bellwether either as worth more and worth less!

Mar 23, 2011 05:40 AM

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Alex and Deirdre Silberman

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