Upgrades ALWAYS increase Equity….'Right ?

Reblogger Gabe Sanders
Real Estate Agent with Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales 3090099

If you are a home seller and planning to update your home in order to get a higher sales price, you might want to read this post from Sally K. & David L. Hanson and then call your local trusted Realtor before spending any money:

 

 

Original content by Sally K. & David L. Hanson 57026-90 Broker

 

     We have the privilege of working with all kinds of Buyers and Sellers in a variety of communities and price points…very intentionally….and we enjoy the variety that this brings to our practice.

   Example of remodeled kitchen   Working with Buyers new to the area or referrals to first time buyers brings a different dimension than working  with people upsizing anDreamingd downsizing in the same areas.  There are dreams to be fulfilled...and sometimes the thought is...."If I can buy a house for $X then I can upgrade....kitchen, bath...exterior with multi-level decks, add outbuildings, the list continues and visions of "making it their own" dance through their heads. Mmmm...quartz counters....new flooring from hardwood to ceramic...lush carpet....that wall removed...island added to the kitchen...spa bath with large walk in shower.    

  That money not spent on the mortgage can now be used for "Dream Fulfillment" and the house will be the grandest in the neighborhood...the city...the county !  Then in  a few years.....they dream of moving on and benefiting from all that "equity" found in those dream improvements and repeat the process.  

     Hmmmm.....As a Buyer's agent....when we advise Buyers on "living the dream" with their improvements to a house...we add a temperment of reality. There are downsides to being...the BEST house on the block, neighborhood..in the city in the county.  IF improvements are made with the intention of great financial benefit...that may not always be the case.  

 Crystal Ball    It may be that the house you choose to improve is in a neighborhood that wll not likely command a price that reflects the "equity improvement dream" when it comes time to sell it.   Our crystal balls are not always clear...but within a few years....large five figure appreciation regardless of the improvements may not be the case. 

     There is wisdom in hiring a Buyer's agent with experience...one who can help you decide if improvements MAY bring the equity you have in mind..OR ,,,you may choose to make the improvements because that is how you choose to live and financial gain...a relatively short stay in a home is not a life plan. Everyone has their reasons for doing what they do...an experienced agent can help ...but not guarantee the results !

        If you or anyone you now is looking for experienced real estate agents in southeastern Wisconsin to help you with Selling or Buying a property, call Sally K. and David L. Hanson, Broker Associates with Keller Williams, we are honored to be of assistance in all things real estate. 

 

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Rainmaker
476,677
Richard Daskam
Keller Williams Coast Properties - Signal Hill, CA
Your Real Estate Consultant

Had that talk to day with my new sellers.  They were contemplating spenidng $50,000 on upgrades that might get them $20,000.  Luckily they listened!

Jan 31, 2018 12:43 AM #1
Rainmaker
1,162,027
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I just had that discussion with someone a few days ago. It's definitely possible to over-upgrade.

Jan 31, 2018 03:25 AM #2
Rainmaker
4,561,947
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thank you very much, Gabe, for sharing this excellent reblog selection.

Jan 31, 2018 04:50 AM #3
Rainmaker
2,737,347
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Thank you Gabe Sanders ...soooo many people believe whatever they do adds mega value ....not soooo much mega with every stroke of the paint brush !

Jan 31, 2018 05:22 AM #4
Rainmaker
3,962,716
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for reblogging the post. I hope home sellers will read this post and learn.

Jan 31, 2018 05:40 AM #5
Rainmaker
1,712,364
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Great re-blog, Gabe...I have a potential listing where they overspent on the house for the neighborhood yet the sellers do not want to hear my spiel!

Jan 31, 2018 05:48 AM #6
Ambassador
3,635,891
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

This is a very good reblog, Gabe. Thanks for sharing it.

Jan 31, 2018 06:53 AM #7
Rainmaker
4,208,547
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thank you for stopping by and taking the time to read my re-blog.

Feb 09, 2018 06:07 AM #8
Rainmaker
4,208,547
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for your comments. It’s always good to hear from you.

Feb 09, 2018 06:08 AM #9
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Rainmaker
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Gabe Sanders

Stuart Florida Real Estate
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