CHAPTER 6 Upgrading with ROI in Mind OI in Mind
Making upgrades can be as easy as replacing the handset on your front door and freshening up the paint job, or as daunting as remodeling an entire kitchen or master bath. The question always is, what home improvements give the best return on the remodeling dollar?
First and foremost, I cannot emphasize this enough, I tell everyone, "Clean goes a long way". Obviously the newest and brightest upgrades are best but if that isn't where your property is at today, Clean goes a long way. Return on Investment (ROI) is generally less than 100% in real estate, so the rule of thumb is “less is more.” It is frequently advised in this area that it’s better to update/remodel your home while living in it and not solely at the time it comes to sell. That way, there is more enjoyment in the improvement and less cost and time in preparing for sale. Some custom upgrades or home improvements will not return their cost in the sale price, so it’s better for the owners to enjoy them all along. When I purchased my first home many years ago, I did not have a dishwasher. Years later, when I was preparing my home for sale, I realized that not having a dishwasher would be a turn off for buyers. I finally installed a dishwasher. During the sale process, I very much enjoyed using the new dishwasher and wondered why I deprived myself of a dishwasher all those years, only to buy 36
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