As a Realtor I constantly get asked about investing in updates and which ones typically are worthwhile and which ones are less likely to make your home more marketable. I hope to shed some light on the best "bang for your buck" when making updates to your home prior to selling. I will guide you through the thought process that will hopefully shed some light on this age old question! Home prices are based on Location, Age & Condition. One great way to determine how your home would be competing in the market place with other comparable properties is to ask your Realtor for some recent comparable data showing homes in competition with yours taking into account different updates or remodeling and their affects on the price. This can give you some idea of how much it weighs on the home value and what range of cost makes the best sense to be able to get a return on your investment. Find a REPUTABLE contractor to give you an estimate of some of your possible projects and weigh that against the ROI to make your decision. Varying degrees of updates will be typical in different neighborhoods. Remember if you over improve and are the most expensive house in the neighborhood, you are running the risk of not recouping your costs! Talk to your Realtor and make a plan! They can help you with what the timeline, cost and extent of your updates make sense for your property!
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