Home improvements are great…but not all of them are created equal. It is very important that homeowners make the right decisions and investments into their home…those that will yield higher returns. We wanted to share some information with you. Many remodeling projects will most certainly add value to your home…but some can actually be seen as a negative by potential buyers. One example: you want a bigger master bedroom so you combine two bedrooms to make that happen. Great for you, that is what you wanted but a buyer might prefer more bedrooms. If you are pretty sure you will be in your home forever, do what you want! But if you know you will be moving up or downsizing at some point it is best to think what a radical, structural change might mean for selling your home.
Some people feel that adding square footage always adds value. But the key word here is “usable”. A finished attic or basement (no need to worry about basements here on the Outer Banks!) may not be attractive to buyers if they are not finished to the same standards as the rest of your home.
Sometimes paying for the highest quality materials is not the best way to go. If you use the most expensive flooring in a bathroom you will enjoy it and it is impressive but value conscious buyers might be looking for a more affordable home. Don’t over improve your home compared to others in the neighborhood.
Does paint hide a multitude of sins? No, it does not. Fungus, dry rot, mold, carpenter ants and so on. You cannot paint over major issues. This is not only a violation of disclosure laws in most states but it can set up the seller for some liability after the sale. The new owners are not going to want to pay for these issues that were “hidden” from them
Here is myth…converting a garage to a living area/space is a great trade off.
No it is not. Most garage conversions are looked at negatively by home buyers unless the seller replaces the garage with a parking and/or storage space of the same size.
Home repairs–I will keep this simple. Hire a professional.
The exterior of your home is important too. That is the first impression for buyers. Start from the outside and work your way in before you list your home.
Listen to your agent…they are objective and have no emotional attachment to your property. They just want to get it sold for you.