To upgrade or not to upgrade?
This is a question we face often from our seller clients. In our experience, fresh interior paint, landscaping, and system upgrades (furnace/AC, roof, water heater) are smart ways to spend your pre-list budget. The vast majority of buyers are really only considering turnkey homes, so anything you as the seller can do to minimize a buyer’s move-in “To Do List” will benefit you greatly when you put your house on the market! Of course, some homeowners are interested in updating their home for their own enjoyment and use. Increasing your home’s functionality for your own use has its own inherent value above and beyond the increase in resale value. But at the end of the day, if you are wondering what projects to take on in consideration of increasing functionality AND re-sale, this article from AOL Finance may be helpful for you!
Source: AOL Finance via CAR.org
Not every improvement made to a house will ultimately raise its value. Homeowners who are looking for projects that will pay back at resale would be smart to consult a local real estate professional to determine whether the project they have planned would help boost their home’s value.
The key to successfully remodeling your home is knowing which projects are going to actually benefit you in the long-run and which ones are merely a waste of your time.
Among projects that may not pay as much back at resale as others include swimming pool installations, home office remodels, master bedroom upgrades, sunrooms, special-purpose room, kitchen remodels and bathroom upgrades.