Another thing you may want to consider is what your plans are in five years. Will you be buying again? Interest rates could potentially be much higher which may impact value. If you plan on "moving up" the money in your pocket might better serve you. The decision has many facets to it, not just a simple yes or no, especially since no one can predict the future in five years. Having been a loan officer, underwriter and appraiser in the past, I look at the whole picture. If you'd like a consultation, please let me know.
Best of luck whatever you decide!
Below is an article on how to come up with ideas for the perfect home renovation.
All the best.
It's possible you will, but it does depend upon what you put in and the area and demand. Kitchens and Bathrooms are #1 on the list for buyers. A gorgeous kitchen can make or break a sale, however, you might not get back everything you put in if you go overboard with the renovations.
My advice is to hire a local Realtor to advise you, before you start the remodel. Also, if you can get it done before Summer (our busy time) you will be ready for the buyers when they are out in mass.
Best of Luck to you! We expect this season to be extremely busy!
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Please let me know if you have any other real estate-related questions!
Alex Khalilifard | Realtor - General Contractor
Listing and Selling Agent
Buyers like upgraded kitchens and baths .
Hardwood floors are also a key selling point.
BE VERY careful thinking you will be able to recover the money you spend on the upgrades. Some home owners go way out and spend way too much on upgrades, thinking it will add extra value and they will recover the cost when they sale.
Truth is, your home will most likely sale for what the current market value in your neighborhood is. No matter how fancy your up grades are.
Upgrades will bring you more interested buyers, and perhaps a faster sale, but they generally to not make your home more valuable than the one right next door.
Best of luck to you!
Kawain Payne, Realtor
There's a shortage of inventory, why not take advantage and sell now?
As a seller when remodeling consider remodeling costs and rate of return on investment. I cannot say what the housing values will be in the next five years. Consider what you paid for home six years ago and the value of property now. Improvements should have a rate of return in the next five years. As a homeowner this is your castle. You and your family live in the home and should personally enjoy and appreciate the good looks of your home. In other words, if you want these improvements for your home GO FOR IT!
Visit: Seller's Remodeling Ideas and Cost http://yourwestsidehomes.com/Remodeling_Westside_Home.html
Gail Mercedes Cole
Feel free to call me or email me and I would love to stop by and view your home and give you some pointers as to what is worth upgrading and changing.
I look forward to speaking with you soon.
Have a great day,
Heather Paul, Realtor, Broker Associate
The best reason to upgrade is because it will add to the enjoyment of your home. Don't do it for return on investment...
Also, be careful not to 'over-improve' for your neighborhood.
Let me know if you have any other questions. Take care.
Generally speaking you want to present the best face forward... in terms of return on investment for kitchens, bathroom and flooring they are proven winners... also consider you will enjoy better living while you are there.