understanding of the way these statistics play out in real life
Also remember that more money spent does not necessarily mean a bigger return. For example, a relatively minor remodel of $20,000 yields a much higher ROI than a $55,000 remodel. While buyers certainly love a large kitchen complete with island and shiny stainless-steel appliances, they won’t be as quick to assign significant value to whether it has the best hinges, custom- stained cupboards, and imported Wolf appliances that money can buy. At some point, very high-end appliances can even be a turnoff, either because the buyer is not familiar with them, or is too familiar and knows just how hard it is to get parts when they fail.
IMPROVEMENTS THAT COST MORE THAN THEIR R AN THEIR ROI
The general public has been conditioned to view almost any home improvement or repair as something that automatically increases the value of the home and guarantee a great ROI upon selling it. But this is not always true. When deciding whether to add a new addition, fix up the basement, purchase new appliances, etc., it’s important to ask yourself: “Do I know that this project will add monetary value to my home? Is this repair a necessity, or a nicety?” There are certain repairs, renovations, and upgrades that simply will not help you make a sale.
Let’s walk through your home and look at things more closely.
New carpeting?
While this could appeal to some people, home buyers are often turned off by it because they will feel like they need to have
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