CHAPTER10 Upgrading with ROI in Mind OI in Mind
Now that you know how to improve your chances of selling, we’re going to talk about doing home improvements that make sense — upgrades that bring you a decent Return on Investment (ROI). A good ROI will help you in your goals for the future, whether you hope to spend more time with family, travel more, or enjoy more leisure activities. If you’ve lived in your family home for longer than a decade, which is the case for most homeowners nearing retirement, there’s a good chance it needs to be updated to appeal to today’s buyers and sell faster. But that doesn’t mean you need to spend a fortune. When upgrading and updating your home, you must always consider the potential ROI. Some repairs and upgrades will be worth your time and money, while others won’t. This chapter will walk you through the differences and recommend the upgrades, or home improvements, that make the most sense for most downsizing homeowners in most situations. It’s important to focus on the home improvements with the highest ROI that buyers are willing to pay more to have. Thiswill make your home more appealing, while saving you the time and money involved in upgrades that just aren’t worth it. First, if you know your home needs an update or upgrade, it’s better to have it done while you’re still living there and not right before you put your home on the market. This way, you get some enjoyment of your home improvement(s), as well as much less stress when it comes time to sell.
Making upgrades can be as simple as replacing the doorknob on
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