Did You Over Improve Your House?

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291
https://activerain.com/droplet/5fzB

 

Over-improving is when you wind up with the best/most expensive/biggest house in the neighborhood.   

 

 

We have all seen homes that are over improved

and here are some of the reasons.

 

-They thought it was a forever home, never planned to sell and made it perfect for their needs.

-They had the funds and wanted what they wanted without moving.

-They made expensive improvements when times were good. 

 

 

over improved

 

-They were comfortable to live in a less expensive neighborhood to be near friends and family.

-They needed special accessibility.

-They needed a school, health care system or other community services nearby.

-Proximity to grandchildren, aging parents or other family members.

 

Can you sell an over improved house? Yes!  

There really are people who want the best house in the neighborhood.

They love having all the bells and whistles and they may be able to make a good buy.

Do you have an over improved house?

 

Margaret Rome 410-530-2400

 

 

 

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Rainmaker
433,794
Kristine Ginsberg
Elite Staging and Redesign, LLC - Short Hills, NJ
NJ Home Stager

Hi Margaret - our home was built in 1915, and we renovated the entire first floor - everything from the walls (which where plaster), electric, molding, floors, new bathroom and kitchen which could put us close to the most expensive house in our neighborhood. However, I design luxury spec homes for a builder, and because we work together, he charged us half the price so it was worth every penny. Good to know that over improved home do sell! 

Oct 04, 2018 03:52 AM #1
Rainmaker
2,657,213
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Margaret, do you remember the 235 program that created many entry level homes back in the 1960s?  I was in one of those neighborhoods the other day.  And, there in its midst was a home that had been rebuilt, doubled in size, and with expensive materials.  A pool had been put in.  Some would say it is definitely overbuilt, but the seller apparently loved living there.  It is currently on the market via FSBO.

Oct 04, 2018 05:37 AM #2
Rainmaker
2,657,213
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Oct 04, 2018 05:38 AM #3
Rainmaker
3,781,266
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Margaret. I really enjoyed this. I have one of these but I will not be moving.

Oct 04, 2018 07:20 AM #4
Ambassador
3,116,587
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 Kristine Ginsberg And you are yet another reason. You want, you deserve and you know how to get the very  best. Your home is an extension of you, the artist, the designer. I know you are enjoying the fruits of your labor. Thanks so much for sharing!!

Oct 04, 2018 07:24 AM #5
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Myrl Jeffcoat That program cost the Gov't big time. Low income FHA, no down payment loans that had to be bought back when they defaulted.

I hope the owners loved their home...are you going after the FSBO? 

 

Oct 04, 2018 09:08 AM #6
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

Thanks for the feature in the OFC! Myrl Jeffcoat 

Oct 04, 2018 09:09 AM #7
Ambassador
3,116,587
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Sheila Anderson Happy you have your perfect home. Why move?  Keep enjoying! 

Oct 04, 2018 09:10 AM #8
Rainmaker
699,700
Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Great post and topic I would suggest to get quotes before doing any renovations. Thanks for sharing I hope you have a great afternoon.

Oct 04, 2018 09:49 AM #9
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2,950,290
Anna Banana Kruchten CRB, CRS, GRI, WLS
HomeSmart Elite Group - Phoenix, AZ
602-380-4886

Margaret on occasion a client has over improved for the market even when I suggested to give that serious thought.  We did get it sold for them regardless and they did take a bit of a hit but not too bad, considering.

Oct 04, 2018 01:52 PM #10
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Pat Champion None of us would "suggest" over improving a home. But when it is done...we may be called on to sell it.

Oct 04, 2018 05:05 PM #11
Ambassador
3,116,587
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

Anna Banana Kruchten CRB, CRS 602-380-4886  Reminds me of a seller who "over-improved" to sell the house.. against my advice. Two years later the agent who suggested the re-do ( and was also the contractor)  still did not sell it.

 

Oct 04, 2018 05:08 PM #12
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