Select Home Improvements That Pay...
Posted by The Keen Team on Saturday, June 23, 2007 at 6:15:18 AM
By The Keen Team / June 23, 2007
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Generally speaking, there are two ways to go about home improvements. You’re either going to splurge on your home because it’s your palace and you simply want a beautiful place to live, OR, you’re going to take a more logical, pragmatic approach designed to increase your home’s value.
It takes saavy and experience to achieve both. Many homeowners expose themselves to the very problems they’re trying to avoid in the process of home fix-ups.
Take Tom and Carol Jenkins, who four years ago purchased a 3 bedroom 1 bath home in Oakhurst for $190,000. Since buying their home, they’ve spent over $120,000 renovating it, adding a master suite, updating the kitchen and baths and making it the “perfect” place to live. A few months ago, they put the home on the market at $359,900. They sat on the market for 6 months with an agent who couldn't sell. I listed their home in July of this year and sold it a 26 days later. The best offer they received was only $322,000.
Their mistake? Spending money on amenities and features that were ancillary to the value of the home and working with an agent who allowed their home to sit on the market too long, never being truthful about the VALUE of their home.
Just because you spend $120,000 renovating your home doesn’t mean you’re going to get it out when you sell. It doesn’t automatically make your home worth $120,000 more. And that’s exactly why you need to know which fix-ups pay off big, and which ones will cost you potentially thousands of dollars. If you're ever in doubt...simply pick up the phone and dial my number - (404) 270-9374 - I'd be happy to help you select home improvements that will pay.
It takes saavy and experience to achieve both. Many homeowners expose themselves to the very problems they’re trying to avoid in the process of home fix-ups.
Take Tom and Carol Jenkins, who four years ago purchased a 3 bedroom 1 bath home in Oakhurst for $190,000. Since buying their home, they’ve spent over $120,000 renovating it, adding a master suite, updating the kitchen and baths and making it the “perfect” place to live. A few months ago, they put the home on the market at $359,900. They sat on the market for 6 months with an agent who couldn't sell. I listed their home in July of this year and sold it a 26 days later. The best offer they received was only $322,000.
Their mistake? Spending money on amenities and features that were ancillary to the value of the home and working with an agent who allowed their home to sit on the market too long, never being truthful about the VALUE of their home.
Just because you spend $120,000 renovating your home doesn’t mean you’re going to get it out when you sell. It doesn’t automatically make your home worth $120,000 more. And that’s exactly why you need to know which fix-ups pay off big, and which ones will cost you potentially thousands of dollars. If you're ever in doubt...simply pick up the phone and dial my number - (404) 270-9374 - I'd be happy to help you select home improvements that will pay.
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