Most of us at some time or another have seen a home renovation or house flipping television show. The results they achieve from a major renovation are truly impressive and can add a whole new level of comfort to the home. This is a great idea if the intention is to live in the home for a long time but, what if you want to remodel with the idea of getting a better price for your property? Is it a wise investment?
There is a lot to think about when remodeling a home to sell it but, if you believe that a major renovation will greatly increase the value of your home, you may want to reconsider your strategy. In general, the money you spend on the work will not make it a worthwhile investment. If, after a lot of thought, you decide you want to do the work, however, here are a few mistakes to avoid:
Any improvements you make on your property should fit in with the rest of the homes in the neighborhood. Of course, you want your home to be the best one but, making it look that much bigger and better will not increase its value by that much.
Perhaps you are considering installing a pool on your property, however, this may not be the huge selling point you think it will be. A swimming pool can actually put just as many buyers off as it can attract them. This is because a family with small children, for example, may worry about the dangers of a backyard pool while others may not want to deal with the extra maintenance.
Lastly, when remodeling with the purpose of selling the home, avoid decorating to your own specific tastes. It is best to avoid bold, bright decorating statements especially with expensive items like kitchen appliances. Instead, think about what would be more attractive to a buyer.
So, while a renovation may seem like the obvious way to sell your home for more money, it is not always the best investment but, if you do decide to remodel, do your research and make wise choices based on what a potential buyer is looking for.
There is a lot to think about when remodeling a home to sell it but, if you believe that a major renovation will greatly increase the value of your home, you may want to reconsider your strategy. In general, the money you spend on the work will not make it a worthwhile investment. If, after a lot of thought, you decide you want to do the work, however, here are a few mistakes to avoid:
Any improvements you make on your property should fit in with the rest of the homes in the neighborhood. Of course, you want your home to be the best one but, making it look that much bigger and better will not increase its value by that much.
Perhaps you are considering installing a pool on your property, however, this may not be the huge selling point you think it will be. A swimming pool can actually put just as many buyers off as it can attract them. This is because a family with small children, for example, may worry about the dangers of a backyard pool while others may not want to deal with the extra maintenance.
Lastly, when remodeling with the purpose of selling the home, avoid decorating to your own specific tastes. It is best to avoid bold, bright decorating statements especially with expensive items like kitchen appliances. Instead, think about what would be more attractive to a buyer.
So, while a renovation may seem like the obvious way to sell your home for more money, it is not always the best investment but, if you do decide to remodel, do your research and make wise choices based on what a potential buyer is looking for.
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