So people are always buying homes and getting into projects and wonder what kind of return they can expect. Of course, all people have different ideas of what is important to them and everyone has different needs. This is just some thougts on the subject. Typically, you are going to get a bigger return on kitchens and bathrooms more than anything else.
Below are some things to consider in a down market…….
Daily Real Estate News | December 7, 2010 |
Things to Consider Before Doing a Remodel
Because contractors continue to have difficulty finding work in many parts of the country, many home owners are enjoying home-remodeling bargains.
Before signing a contract, here are some things Tara-Nicholle Nelson, author of “The Savvy Woman’s Homebuying Handbook” urges people to consider:
· When the market is flooded with properties, buyers are frequently unwilling to pay for upgrades, although an upgraded home may sell more quickly than a dated one.
· Sellers concerned about guaranteeing a remodeling return on investment should focus on preserving the value and the likelihood of resale instead of on aesthetics.
· Don’t overbuild. McMansions have fallen out of fashion.
Source: Boston Globe, Tara-Nicholle Nelson (12/06/2010)