Great article by area Realtor: Do Renovations help your resale potential?
Whenever we go meet someone who is thinking of selling their home the questions usually arises –
What can I do to increase the value?
What renovations can I do to make it worth more?
While renovations are great in a home they usually lose money if done in the mind to sell. If you are replacing a kitchen or bath in order to make more in a sale you will (normally) see between 70-80% of the money back.
Renovations are expensive and should be for the home owner who is doing the renovations to enjoy. Major renovations are usually done in the current owners taste and may not be what new owners are looking for.
Every situation is different, every reno is diferrent. Be careful with your money and do the smart reno’s. Efficient homes with new furnaces & new windows are my favorite. The current owners thought about…
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