HOME IMPROVEMENTS VS. HOME VALUE The True Impact Your Upgrades Might Have
If you’re considering selling your home, then you’re likely wondering what you should do in order to maximize your selling price. Fresh paint and new floors go a long way for the interior, just like clean landscaping enhances curb appeal. But not every dollar spent on home improvement will generate a worthwhile return on the investment.
• Rethink master suites that eliminate a closet or sacrifice bedroom space
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Invest in wood floors
• Have low expectations for recouping any investments spent on a pool
Some surprising examples of home improvements that may actually decrease market value are:
The person buying your home expects to get a fair price for it, especially if they’re financing the purchase through a mortgage. If your home doesn’t appraise for a certain value, then their mortgage may not be approved. If their mortgage isn’t approved, then it’s likely the deal will fall through, especially if their loan-to-value ratio is very high. One way a homeowner can avoid this pitfall is by reducing their purchase price, but that sacrifices the return on the investments they made to improve their home. Ultimately, those home renovations that were done with good intentions are actually the root cause of many issues. It’s important to carefully consider the choices you make when it comes to renovating your home. Compare the value it adds in the short term to the value, because it could potentially detract in the long term. If you need further guidance with buying or selling a home, then contact our office today.
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High-end, upscale kitchen renovations
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Less-than-professional painting jobs
• Expanded master suites that convert the closet or another room
• Wall-to-wall carpeting
• A swimming pool
To combat the above, homeowners should instead try the following:
• Keep kitchen upgrades reasonably priced rather than installing top-of-the-line appliances or materials
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Hire a professional painter
MICHELE’S RECIPE CORNER
take a break
NO-CHURN S’MORES ICE CREAM
INGREDIENTS
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14 oz sweetened condensed milk
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10 graham crackers, crushed
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1 chocolate bar, chopped
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2 tsp vanilla extract
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2 cups whipping cream, chilled
DIRECTIONS
1. In a large mixing bowl, combine sweetened condensed milk, vanilla extract, graham crackers, and chocolate. 2. In a separate bowl, use an electric mixer to beat whipping cream until peaks form, about 3 minutes. 3. Fold whipping cream into the condensed milk mixture. Transfer ice cream to a freezer-safe container, cover, and freeze for at least 8 hours. 4. Serve and enjoy on a hot summer day. It’s especially delicious in a waffle cone!
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