Tuesday, April 16, 2013

Lost Opportunities

I met with a seller today who was asking me about painting, landscaping, refinishing floors and more small improvements.  They wanted to know if they did all those things how much more could they sell the home for.

I explained these are things that might not significantly increase the overall sales price of the home BUT if they are less than average will cost them buyers willing to make an offer.  Once a buyer gets a perception that the home is not up to par it might just totally turn them off.

So, even if you don't get a dollar of return for your dollar spent on home improvements (which in most cases you will not), you may very well get some of your "return" in other ways, like more interest from buyers, and a faster sale.

The bottom line is that you need to evaluate the return on your investment in home improvements from a buyer's perspective, and consider the value of each investment in terms of its overall impact on the value of your home.

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