Home Improvement Projects

It can be really tempting to embark on home improvement projects as soon as we’ve moved into a new house. When thinking about selling, it can be equally tempting to believe that we need to make major improvements to get our house sold. I can’t stress enough the importance of consulting with a real estate broker.

The danger here is simple: What you might think is a necessary repair to your home might be money that you will never recoup. This can come in several forms. For example, let’s say you spend even a modest amount on new carpet and fresh paint. If it isn’t going to make a difference in the market price of your home or in its showing, it’s simply money not well spent. More seriously, some sellers will believe they need to embark on a major home remodel, such as to a kitchen or bathroom, in order to fetch top dollar. The concern in this approach is that you might over-invest for your house given its neighborhood. If a house no longer conforms for its neighborhood or the cost of those improvements pushes the house above market price, it could be difficult to sell.

New home buyers are often excited to give a home their own touches. It can be a smart move to live in a house six months or more before embarking on any major renovations. This will give you time in the home to see how you live in it. Things that seemed like an immediate need when you bought the house might not really be a problem once you are actually in the house every day. It’s not an uncommon story to hear from a seller that they started a remodel years prior, only to never quite have the time or money to finish. This is a good warning to a new home buyer not to fall into that same pattern.