Monday, March 24, 2008

How do you improve your home's value?

The general rule in real estate is that buyers seek the least pricey home in the best neighborhood they can afford. In terms of improvements, this means you desire a home that fits in the locality but is not over-improved. For example, if most homes in your neighborhood have three bedrooms, two baths and 2,500 sq. ft. of over space, a property with five bedrooms, more baths and far more space would likely be priced much higher and likely be harder to sell.

Improvements should be made so that the property shows healthy, is consistent with the neighborhood and does not engage capital investments, the cost of which cannot be improved from the sale. Furthermore, improvements should reproduce community preferences.

Cosmetic improvements such as paint, wallpaper and landscaping helps a home "show" better and often are good investments. Mechanical repairs are to ensure that all systems and appliances are in good working condition are required to get a top price.

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