Susan Ormont - RISK VERSUS REWARD: A SIMPLE GUIDE FOR INVESTING IN REAL ESTATE

In any renovation, whether it’s landscaping, doorways, or kitchens, don’t try to meet the highest demands of fashion. Make it contemporary, but don’t go for the bleeding edge of home design. If you do this, you could spend too much money and price your home out of the market. You could also narrow down your Buyer market if it is too contemporary. In short, keep it simple, and remember that less is often more. Minor projects, like replacing exterior doors, putting fresh stain on the deck and a fresh coat of paint, are more likely to aid your home sale and result in a good ROI than larger projects such as wholesale reconstructions and outbuilding additions. Make sure that the basics are set, taking care of leaking pipes and buggy appliances, and ensure all the doors and windows open and close, as expected. If you do decide to go with a larger project, pick one that leads to a good ROI, like a relatively modest kitchen remodel, while always being careful not to spend so much that you price yourself out of the market and make it harder to sell.

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