Joseph Talbot, Real Estate Broker - HOME IMPROVEMENTS THAT IMPROVE VALUES

It would help if you also considered that buyers' tastes might differ from yours. Even if they are similar, they only see the finished product. They will have little understanding of or interest in what went into creating it. That brings out the need for a deeper understanding of how these statistics play out in real life. For example, a roof replacement is often cited as having a high ROI. While this can be true, it is essential to understand this in context. After all, others assert that a new roof does nothing to add market value to a home. So how do you square these seemingly contradictory statements? A roof is a bit like a bass player in a rock band; you should only really notice it when it isn't doing its job. It is generally not something you think about unless it is leaking or has a colony of moss growing on it. Therefore, while a bad roof can certainly detract from a home's value, a solid, trouble-free roof is simply expected. Its chief value is how it may favourably compare with similar houses with older roofs showing clear signs of wear. That said, you do not need to replace your roof with an eye toward selling unless your home needs it. One caveat is that roofing items like energy-efficient architectural shingles or a steel roof with a transferable warranty may be highly attractive to the right buyer. Also, remember that spending more money does not necessarily mean a larger return. Returning to the kitchen example, a relatively minor remodel of $20,000 may yield a much higher ROI than a $55,000 remodel. While buyers certainly love a large kitchen complete with an island and shiny stainless-steel appliances, they won't be as quick to assign significant value to the best hinges, custom

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