Sellers: Not All Home Upgrades Will Add Value

 
Share
 

Manage episode 230300148 series 2380846
By Zach Sikes. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Everyone wants to add value to their home before putting it on the market, but a lot of the advice about how to do so misses the mark. To give you a better idea of what does and doesn’t add value, we’ll be covering a few important points today. First of all, don’t add a pool. If you want to add this feature for your personal enjoyment, then “by all means” go for it. However, you should know that pools only bring about a 10% return on interest in terms of market value. It isn’t just “fun” home upgrades that offer little value. Practical repairs like a new roof or a new HVAC system will also bring little to no return. Buyers expect these areas of your home to be in good, working condition. Instead of seeing it as added value, they simply see it as a given. “Upgrading your home won’t always bring more value, but strategic improvements can still help you sell.” But what about new carpet or paint? These two items almost always appear on lists of the best upgrades to make before you sell, but the truth is that they will only add value in certain circumstances. If a home badly needs freshening up, new carpet and paint are a good idea. If the home is already in near-perfect condition, though, new carpet and paint won’t make as big of an impact as you might expect. The bottom line is this: Upgrading your home won’t always bring more value, but strategic improvements can still help you sell if your home isn’t up to its full potential without them. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

42 episodes