Return on Investment (ROI) can sometimes be less than 100% in real estate if you update the wrong things. However, in today's market where buyers have what I call "HGTV Syndrome", the upgrades could be the difference between selling quickly and for top dollar or not selling at all or selling at a much lower price than the cost of upgrading would have helped.
If your home is currently worth $275,000, and you spend $25,000 to revamp the kitchen, don’t make the mistake of assuming that the investment will increase the value, dollar for dollar as it may not. However, with that said, if similar homes in your area with updated kitchens are selling for $325,000 then spending 25K to update your kitchen would certainly be worth the investment. Smaller upgrades, like replacing outdated fixtures in the kitchen and bath, are certainly worthwhile, but major remodeling of those rooms may not be wise just to sell your home. However, remember that kitchens and bathrooms are what buyers want and even expect be updated to get the best offers. Updating countertops from Formica to granite or quartz can return more than the cost of updating them. As an expert in valuation and the real estate market I can certainly advise you as to what repairs to make that will yield the best return. In many homes, just updating lighting fixtures and painting can make a huge difference. We specialize in finding low cost modern fixtures that make a huge statement and adds the WOW factor as buyers walk through the home. Also keep in mind that sometimes items have to be done as explained below that won't get dollar for dollar return but will end up getting the home sold faster instead of languishing on
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