- COST DOESN’T EQUAL VALUE. If you finished off your basement six months ago for $12,000, said improvement doesn’t necessarily add $12,000 to value in the eyes of the buyer.
- PUT YOUR MONEY WHERE BUYERS WILL SEE IT. Examples of good returns might be a fresh coat of paint and sprucing up your front door and entry way. Don’t expect to get as good a return on insulation or new wiring (these fall under item #4)
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DON’T OVER IMPROVE! We see this happen all the time. The addition of a fifth bedroom to a house in a subdivision of 3-4 bedroom homes may not give you the return you would like. Use typical improvements for your area as a guide.
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MOST QUALITY HOME IMPROVMENTS CAUSE A PROPERTY TO SELL QUICKER BUT NOT NECESSARILY FOR MORE MONEY. A timely sale will lessen the carrying costs and stress. Don’t underestimate the overall value of “smart” improvements (i.e. updated wiring, new furnace, etc.)
