Cost Vs. Value – What should I do to my home to improve its value?
One of my favorite questions as a Realtor revolves around fixing up the house. There are two ways to build equity in your home (equity is what your home is worth, minus the mortgage). One – sit back and wait for the real estate market to rise. (Which it is steadily going these days in the San Francisco Bay Area) And two – fix up your house.
The second method can either make or break your investment. Let’s go with ‘break’ first. A homeowner can spend hundreds of thousands of dollars fixing up the wrong part of the house. Or worse, remolding a place till it’s just ugly! Unless you are living in your forever house, you want to be smart with your money by doing a smart remodel or addition. That means picking finishes and fixtures that are contemporary and neutral. I’ve seen one too many amazing kitchens and baths that fit the homeowner to a tee – only leaving potential buyers counting their pennies for the demolition.
The first remodel that comes to mind is the kitchen, then the bath; two fantastic ways to improve the value of your home if done right. The pink grout to match the flamingo theme in the bathroom is not going to beg for the highest bidder. So before you head to the hardware store – think three times, measure twice and cut once…
For more information and statistics surrounding home improvement and where you should invest your money – please visit the link below. It’s a very interesting read.
I read this article at: For the San Francisco Bay Area visit http://www.remodeling.hw.net/cost-vs-value/2014/pacific/san-francisco-ca/
For national information please visit: http://www.remodeling.hw.net/cost-vs-value/2014/
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Thanks for reading – Sabrina
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