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e-Newsletter - November 2006
How to Decide on Upgrades to Make Before Selling Your Home (Part I)
Making decisions about improvements to your home is pretty simple if those improvements are meant to improve the quality of life for yourself and your family. You simply invest your money in those things that will mean the most to you. However, deciding which home improvements will be most appealing to potential buyers is another matters altogether.
Making the most of the money you put into fixing up your home is very important. Choosing your upgrades wisely, based on market research of which improvements pay for themselves, will help you get the most out of your home when you sell.
Determining which upgrades and improvements will enhance the value of your home and pay for themselves is often difficult. For one thing, it requires you to place yourself in a buyer's shoes, and see the home the way an outsider would. This is often difficult, particularly if you are emotionally invested in the home. It is tough to look on your own home as an outsider.
Therefore, it is a good idea to seek the advice of someone who can be impartial and provide that all important outsider perspective of home improvements and upgrades. A good place to start is with your real estate agent. Ask your agent which improvements or upgrades he or she feels would add the greatest value. It is important to focus on those improvements that will more than pay for themselves through enhanced home value.
You may also want to look at similar homes in your area. Pay careful attention to the amenities offered in similarly priced homes, and make your upgrade list accordingly. Naturally, it is important to take cost into consideration when making those upgrade plans, and make sure you can recover the cost when you sell your home.
