Home renovations to increase its sale value
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Posted On :
Aug-12-2010
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Article Word Count :
500
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Its recession time everywhere, including the real estate market! Everywhere people are looking for ideas to increase the sale- ability of their homes. One such idea is home renovations. This is especially important if the property is located at a prime location or has a historical significance attached to it.
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Its recession time everywhere, including the real estate market! Everywhere people are looking for ideas to increase the sale- ability of their homes. One such idea is home renovations. This is especially important if the property is located at a prime location or has a historical significance attached to it. If done reasonably and sensibly, it can considerably increase the value of your property. There are a number of ways through which you can increase the value of your place. From remodeling, to renovation, from landscaping to upgrading appliances, the choice is unlimited. Use these tips even if you are not putting your property up for sale, but just looking to increase its value.
- Your house would get an instant makeover, with a slight change in the landscape. To begin with you can keep your grass cut and clean, to give a dramatic uplift to you house. In fact, you can even add extra grass, to make it look healthy.
- When renovating your house so that it sells well, make sure that spending too much on renovations, wouldn’t give you an out of this world result. Remember the location and the property value (of the same kind) of your neighbors and spend accordingly. To begin with you could spend on things that improve the outer look of the property, like spending on air conditioning, painting the outer walls, getting new sprinklers; all add value to the property.
- One very good, way to attract potential buyers, is by making your home energy efficient. Installing solar panels, installing low flow toilets are very good ideas, to entrap a potential buyer.
- Other things that could spruce up your house would be repairs in the kitchen, bathroom, removing broken or old sinks, replacing old taps, worn out plastering can all add to the value of your property significantly.
But remember, don’t overdo this. Any good real estate agent should be able to tell you, the percentage of money that you can safely spend expecting a safe return on investment. Most people coming to buy a certain property judge the price by the price of the corresponding property in that area. Remember, the changes should be reasonable. You could follow this basic thumb rule. Renovate your home, so that its value increases by about 20%, than the costliest home in the same area.
That’s because when real estate agents, estimate the value of your property, they base their decision on two factors: Features and the condition of the property. Features mean things like the number of rooms, bathrooms, finished landscaping, finished basement etc. Condition refers to scale of repairs that a prospective buyer would have to undertake if he purchases your place. Make sure that the condition is such that minimum repairs and replacements would have to be undertaken. The features should be such that it should be unique to your neighborhood. If it’s too much, it’s possible that you end up reducing its value.
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Article Source :
http://www.articleseen.com/Article_Home renovations to increase its sale value_28994.aspx
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Author Resource :
Natasha Mohr is a Tampa real estate expert. If you have any questions about Tampa bank owned homes or Tampa waterfront homes please don't hesitate to contact us or visit our website at Tampa2Enjoy.com.
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Keywords :
Tampa MLS listings, luxury homes in Tampa, Tampa luxury homes, Tampa waterfront properties, Tampa waterfront homes, Tampa ban,
Category :
Finance
:
Real Estate
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