Home values in our current real estate market have been greatly impacted by short sales and foreclosures. With all of these distressed properties on the market, how can we as homeowners hold or increase the value of our homes? Here’s How:
- Maintain the home. Don’t forget to maintain the current systems in the home. Big ticket items such as the hot water heater, furnace, air conditioner can last longer and save you money if they are cleaned and serviced once a year.
- Keep updating. Tackle one updating project at a time. You don’t have to spend a lot to update certain rooms or things in the home. If you decide to sell and haven’t done any updating, buyers will automatically devalue your home.
- Don’t Over Improve. Make sure that when you are updating your home you don’t over improve. Remember that on most remodeling projects you won’t receive the money spent dollar for dollar back. The best upgrades and improvements will get net you a 70%-80% ROI (return on investment).
- Talk to me. Before you remodel your kitchen or finish your basement, contact me. I can advise you on things buyers are looking for and give you an idea of what your return on the investment will be.