Plan to upgrade your new home? Read this first. – OpenHouse blog – http://bit.ly/1Pw74ej
Making improvements to the home you buy can often up its value out of the gate. But not all improvements are guaranteed money-makers. So before you spend thousands of dollars over-improving your new home with no chance of return, ask yourself these questions first.
#3 Where is my property located?
Location. Location. Location. Certain improvements have different returns in different regions of the country. For Northeasterners and Midwesterners new storm windows and water resistant basements pay big dividends. Places with moderate weather, like California, Texas, and Florida, see bigger returns on kitchen and bathroom remodels and landscaping projects.
#2 Do I know my eventual buyer?
Sure, you’re probably not looking to move from your new home for a few years, but it’s still important to know who the next potential buyer might be. Is it a family? A bachelor? A young couple? Make sure any upgrades you make to your new home would also be appealing to that potential next buyer – otherwise they’re not going to pay for all those upgrades you put in.
#1 What types of improvements am I making?
Did you know that property improvements which just break even are actually considered a win? So when the profit from a project actually exceeds your investment, that upgrade is a no-brainer. The projects that returned some of the biggest gains in 2015 were maintenance-related improvements including:
Garage Door Replacements
Front Door Replacements
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