Prices for houses right now are up, as we are in
what’s called a sellers’ market. If you’re thinking of doing some renovations
on your home to increase the value to sell, know that not all renovations add
value, in fact some will hurt the value.
For example:
A swimming pool: many buyers won’t purchase a home with a swimming pool.
Pools require a ton of upkeep. And they’re potentially dangerous, scaring away
many buyers with younger children. A permanent home office: Most buyers would
prefer an extra bedroom instead of a home office. Turning that garage into a
bedroom: Many buyers want a garage when purchasing a home. If you can’t offer
them one, you might limit the number of interested buyers forcing you to reduce
your asking price. Too much landscaping: An overly landscaped backyard requires
a lot of upkeep, and many buyers don’t want to spend their weekends in the
dirt. Too much color: Careful when painting, if you have bright colors you
might want to mute those for an easier sale. So be choosy when making
renovations.
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