When Remodeling and Decorating remember to think Resale

By
Real Estate Agent with Skylight Real Estate Consultant

Some people may dream of being the King and Queen of there castle, and literally transform their home’s exterior to look like a medieval castle.  It may look really cool but it could cause them problems.

 

 After purchasing your home, you will probably be eager to do some remodeling, and give it your personal touch.  That’s great, but before you make any major changes, you need to think ahead, to the time that you may eventually want to sell your home. 

 

If you redesign or remodel your house be careful not to make it uncharacteristic of other homes in the neighborhood.  This could make it more difficult to sell in the future.  It is not beneficial to make your home so unusual that there is nothing that the appraiser can compare it to when you decide to sell.  Without a comparable home nearby, an appraiser will most likely fall back on quantifiable characteristics such as lot size, and square footage, and that will not accurately measure the value of your home.

 

Consequently, on the basis of the appraiser’s limited report, the bank will likely conclude that your house is worth less and approve a buyer’s loan accordingly.  Unless your buyer is able to come up with the monetary difference, the sale may not go through.  

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