I can’t begin to tell you how many times I have gone on listing appointments and the owner of the home has asked me “should I update before I list my home?”. This must be the most frustrating question I hear..
Will they most likely get more for their home, YES! Can I guarantee they will get the money they invested into that brand-new kitchen or bathroom or all the updates, ABSOLUTELY NOT! I am not going to tell the seller to invest into doing something UNLESS they are needing to sell quickly and then chances are they are better off pricing the house accordingly. I know that is not the most popular answer and the neighbors are not going to appreciate a low-selling home, however, a good realtor will know their comps and do the research.
I have written several articles on this issue. I cannot STRESS ENOUGH on this subject; a home purchase is most likely going to be the single most expensive personal investment you will ever make in your lifetime SO WHY WOULD YOU NOT MAINTAIN IT AND KEEP IT UP TO DATE IF IT ONLY INCREASES THE VALUE?
Think of it this way; the only TRUE way to recapture the full value of an update is to invest in your home while you too can enjoy your investment. Update that kitchen and enjoy it! Update that bathroom and enjoy it! If or when you decide to sell your home, you will have added value to your home. The difference between what you paid for the update(s) and what you may or may not recapture back monetarily will be captured emotionally and physically by both you and your family. This goes for almost any kind of updating in your home.
We all know bathrooms and kitchens will sell a home faster than anything else! However, don’t forget when you are updating if you chose a color that may be a bit out there because it fits your personality but maybe a little “too fun” for the general public, not a problem. Just remember to step back, look at your home as if it is the first time you have ever seen it, look at the house and decide if it might need a bit of an adjustment in color to make it brighter and appealing to a broader audience or perhaps it is just perfect and just needs a touch-up! Painting a house can be one of the least expensive ways to update a home to provide a fresh clean look!
Whatever the case, remember an investment in your home for updates is best done PRIOR to your decision to list it! Consider keeping your home updated as an investment not just as an investment into your home but as an investment in YOU AND YOUR FAMILY! If you keep this in mind there is no way to go wrong! After all, your family home is your family’s investment! Whether it is long-term or short-term you will be happy for investing in your family one way or another the payback comes back to you!
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