Before You Make Any Home Improvments – Consult Your Realtor
August 21st, 2007 Categories: In The News Calabasas
I cringe when I have to tell a seller that they will see little return on the money they’ve spent in remodeling their home. Upgrades must be appropriate for the style and price range of the neighborhood or they could actually detract from the value and salability of the home.
This morning I was in the Woodland Hills Home Depot and ran into a couple that I had sold a home to several years ago. I was so glad to see them but when I looked at their shopping cart full of stuff, I asked them what they were doing. They laughed and said they were doing the home improvement thing. I asked them if they still planned to move when their children got to middle school. They said yes which surprised me when I saw what was in their cart.
I explained that it’s great to make improvements that you’ll be able to enjoy for the next few years, but since they’d be moving in less than five it might be a good idea to make sure that the return on the investment made sense. I then offered to go over their remodeling plans with them to make sure that they’d reap the financial benefit when it was time to see their home.
Think about this the next time you decided to remodel or add to you home. Some upgrades will actually add to the value of the home and you’ll see the return when you sell, other projects that don’t fit the price range or neighborhood won’t affect your sale price at all.
The next time you decide to spend money on upgrading or adding features to your home, you may want to call me to determine if it truly makes sense. It’s important to keep in mind your goals and your moving plans.
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