SPACIOUS AND UPDATED THROUGHOUT IN PROSPER ISD. Recently painted, new porcelain tile and laminate wood floors installed, fresh carpet – feels like new. 4 large bedrooms plus a study, formal dining and gameroom. Updated plumbing and lighting fixtures in bathrooms. HUGE BACKYARD with covered and extended open patio on the east side for afternoon shade. Bonus other room for storage, craft or hobby area. Elem school, city park, pool in neighborhood.
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Many homeowners are not deciding to sell in this current market, but instead are looking at updating or upgrading their current homes. When upgrading, home owners should seek features that aren’t only desirable to them but also what will add value to the home when it comes time for resale.
Here’s some general advice from Bankrate.com to help guide you as you consider any changes in your home to determine if it would increase your home’s value.
These items may not be worth the expense:
Too high maintenance. Many buyers aren’t looking for homes that require too much upkeep and maintenance. The article notes in-ground swimming pools as a prime example of a high-maintenance feature that may turnoff many buyers as they look at the upkeep of it as too costly and too much work.
Over-the-top. Home owners don’t necessarily want to have the most upgraded home on the block. That’s because when they go to sell it, they likely won’t make all their money back on the upgrades if the home becomes overvalued for the neighborhood. So while granite countertops, stainless steel appliances and all the top finishes are always an attraction, home owners need to ask whether such features are too much for their neighborhood, particularly if the other homes just have moderately priced cabinets or features.
Too personal. Too much customized design choices, such as a Tuscan theme taken to the extreme, may turn off buyers or attract low-ball offers at times of resale because buyers who may have differing tastes see the decor and finishes as something they have to do-over. “Any time you deviate, no matter what the improvement is, from what is a fairly traditional, single-family house, you run the risk of improving in a fashion that will not lend itself to additional dollars,” Miami real estate pro Moe Veissi told Bankrate.com.
Unpopular. Ensure that the change in your home will not only be a good fit for your family and lifestyle, but will be wanted by traditional buyers.
If you are thinking of making changes, but don’t know how much value you are adding to your home, call The Marr Team – we will give you honest numbers and advice on your project and your home’s value.
Many homeowners are not deciding to sell in this current market, but instead are looking at updating or upgrading their current homes. When upgrading, home owners should seek features that aren’t only desirable to them but also what will add value to the home when it comes time for resale.