In the next two weeks’ blogs, I’ll give you some ideas for maintaining your real estate investment based on a couple of sources like Bob Vila and the Florida Association of Realtors. This week I concentrate on “Updates” to your home to retain or improve its value.
The first article concerns your home’s “curb appeal.” How does your home look from the street? A great looking home front “can boost your selling 7% and in higher markets 14%.” When was the last time you spruced up your landscape, painted the outside of your home including the front door?
FAR article link:
Does your home have luxury home features that are now becoming standard features for homes? For instance, does your home have a laundry room? Does it have energy star-rated windows and appliances? Also other “sought after” items include: hardwood floors, walk-in pantry, patio, ceiling fans and a double sink in the kitchen. Once thought as luxury features, these times are now becoming standard desired features.
Link to the full FAR article:
Now that I have mentioned “curb appeal” and these sought after “standard” features …how much money do you invest in making changes?
Be careful with renovation “Temptations” like what you’re seeing on websites and on TV. A Vila article cautions about being too trendy. Buyers generally don’t want to purchase a home that costs slightly more than the neighborhood average. Don’t spend the money that it will overprice your house and make it the most expensive house in the neighborhood. Making the right choice with change is important when it comes to ROI (return on your investment). Check Bob Vila article, “11 Repairs/ Renovations Not Worth Your Time and Money” including lavish landscapes, Professional grade appliances, wild paint colors, real hardwood floors…and read “7 Bad Reasons to Renovate Your Home.” The FAR chart is easy to understand what changes are worth the money
FAR ROI-Return on your Investment chart.
That’s my real estate advice this week…hope you learned something new.