repair/replace or upgrade
I get lots of calls about about doing repairs or upgrading your current home. If you do tile versus wood will you get more when you sell. If you add a covered patio will you get your money back? If you replace the A/c unit will you get more when you sell? These are all great concerns and all have different answers. Let's start with general maintenance of a home. Painting, replacing old or broken fixtures,replacing carpet,fixing things and doing general repairs all need to be done regardless if your selling or not. If it is broken then it needs to be fixed or replaced period. Trying to sell a home with any items that are in need of repair tells the potential buyer that you have not maintained this home and why is it broken and why did you not fix it. It will send the wrong signals and then the buyer is looking for more items that may be broken or getting ready to break because now they are worried this house was not maintained. Ok, now on the upgrades. Will you get your money back adding a covered patio? Yes/no. It depends on the quality of the patio and the cost. If you spent $30,000 for something that is over priced and too fancy then the buyer may not feel it was worht the money spent. It is like adding a pool, yes most people love a pool, but there is always a few that think they cost too much to maintain. Just remember the rule of thumb. If it is broker repair or replace it. It you want to update then update for your enjoyment it and don't bank on getting all you money back when you sell. It always depends on the each person's personal taste and what the market will bare. You can always contact me and I will be happy to assit and give more details on any questions about any of these things..
Posted at 10:33PM Aug 20, 2009 by Suzette Peoples in Real Estate | Comments[0]
