Stop! Better check that ROI before performing that home upgrade…
SO, you want to make some updates on your home? You might want to consider the ROI of that update. ”ROI” = return on investment.
When one considers the value of their home and the repairs needed for their home, it only makes sense to consider what’s the thing that I can do to improve my home that will give me the biggest “bang for the buck”. That is, on what repair/update can I spend the least money but get the most value?
Keep in mind that to get the value back from your update(s) you need to understand the market in-which your home resides. For instance, putting granite counter tops in the kitchen may make it more appealing but given the area that the house is in, may not give you the value of the granite back in returns. However, if all the homes in your area have granite counter tops and your house does not, then adding granite counter tops may only get you to “par” with other homes in the area. Your friendly neighborhood Real Estate professional can help you with this dilemma. I’d be honored to become that friendly Real Estate professional for you and would love to help you understand what updates will be most beneficial for the long-term value of your home. Just contact me or give me a call.
Check out these links:
Renovations that Give You a Return On Investment
ROI – 2012 Home Improvement National Survey Results
6 Do-It-Yourself Updates That Can Increase Home’s Value By More than $10,000
10 Ways to Increase the Value of Your Home
Houselogic – 7 Tips for Staging Your House
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