Sellers are competing for the qualified buyers these days. Actually, sellers are always competing against each other, trying to offer the best value in hopes of securing the best offer. Such offers usually come to sellers whose homes are in great condition and priced at fair market value.
While it’s critical to get your home in tip-top shape when you list your home, care needs to be taken when you’re considering the impact of remodeling and renovating. Homeowners who over-improve run the risk of not being able to recoup a large part of their investment, particularly if they find they need to sell very soon after completing such work. Sellers also need to take into consideration that the improvements they make to their home may be right for their lifestyle, but may not be important to the potential buyers. An in-ground or above ground pool may be your heart’s desire, but the buyers may see it as extra work or a potential liability with increased insurance costs.
Homeowners should always contact their real estate professional before undertaking a large or small remodeling project. Ask for their opinion as to the impact that your proposed improvement will make on the value of the home.
A report published recently gives clues as to where it will be best to spend your improvement dollars. Upscale siding and mid-range bathroom upgrades can usually recoup a good portion of your investment cost. Even minor kitchen remodeling adds to the value of your home and returns a good investment.
Basically, stick to designs that will appeal to a majority of buyers, since you can’t be sure that you’ll find that unique buyer who will appreciate the more exotic tastes you enjoy. Use neutral colors and avoid dark or bright colors. Beige carpets and off white walls are your best bet. Be proactive, but be practical. If your walls are dark, consider a layer of a lighter color. You’ll be amazed at how much bigger your room will appear.
Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.
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