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VSCountless home improvement shows populate the networks, providing viewers with all the possibilities for remodeling. Most of these shows give a “realistic” view of what it means to renovate a home, but there is one topic that is often overlooked: over or under improving a home. This happens when a home is updated with stylish finishes and accessories that one would find in a high priced home, but the neighborhood or location does not support that level of home or that price. . In contrast, it is when a home is updated to a lesser extent in a neighborhood with high-end designer homes.

Some home renovations start with a specific problem that needs to be addressed, and then builds from there. Replacing a broken refrigerator can lead to “why not replace all the appliances” so new appliances will look too good in the old kitchen, so you might as well replace cabinets and counters. What is often not discussed is how far to go while improving a home with plans for resale in the near future. It’s about finding the “right” amount of update. Where to start and stop this process depends on a few factors: location / neighborhood, selling price in the area, current condition of the house and budget.

Take a look at what comparable homes are selling for; what will it take for this house to be as beautiful or better than the compositions? Make a wish list of renovations and how much they will cost. Take the current market value of the house, now add the completed renovation budget. If similar homes in the neighborhood are selling for more than this total, then the upgrades would be a wise investment.

Home Improvements and Rate of Return: Where to invest your money

Home Improvements and Rate of Return

Where to invest your money

By Abbie and Rick Sams

Take me Home

If budget is tight or time is limited, a remodeled home can be as easy as doing all the necessary repairs and maintenance, deep cleaning the house, painting the kitchen and living room cabinets. bathroom, add new hardware and paint all the walls. If more is in budget, try replacing the light fixtures. Continuing on this path will make the whole house feel neat, fresh and updated. This project can be very user-friendly and add significant value. The perceived value of a buyer begins when viewing photos of a home online first. It is then supported by driving around the neighborhood and visiting the house in person, which leaves the strongest and longest lasting impression.

Different houses in different locations order a number of updates to be done in order to achieve the best price. The best practice is to consult with an experienced real estate professional to determine the appropriate amount and type of work to be done. Professionals can guide homeowners to the improvements that matter most to buyers, and will be able to help prioritize which projects to complete now and which to ignore.

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