Jim Valentine on Real Estate
Home improvement stores are big for a reason. A lot of people want to do a lot of upgrading to their homes at one time or another. Sometimes it’s just repairs or maintenance, but there are times when major changes are contemplated.
When you are in one of those pondering moments be sure to take the time to determine if your intended improvements will suit your purposes and intentions. One of the first assessments to be made is whether or not you will get your investment back.
If you intend to continue to live in the home for an extended period of time then this is not as important, but it should be evaluated. There are the known rooms that bring good financial return when you sell, i.e., kitchen, bathroom, etc.
Others, however, will serve more to give you ownership and occupancy pleasure than financial reward. Improvements in the latter category can include bedroom painted and converted to a nursery, an extravagant bar in the great room, etc.
These are specialty items that you will enjoy, but when it comes time to sell buyers might not be as enamored with them as you were when you installed and enjoyed them. You own property for many reasons, but one of the main ones is the ability to do what you want with your home.
Adding a deck or patio for entertainment or family pleasure will contribute to your enjoyment of your property. Investing in landscaping to add to your home’s exterior character is also pleasing.
A few gadgets won’t hurt and will make things fun while you are there. These can be power gates, video doorbells or cameras around the inside and outside of the property, and color changing lights to set moods, inside and/or outside.
It’s fun to create the habitat you want, and the joy will continue if you do it with quality materials and workmanship. Buyers like quality and you will reap the rewards of your efforts if you do it right.
If you get too specific in design or finish, you might find buyers put off by the eccentric nature of the property. Unfortunately, this happens a lot. A homeowner gets a bright idea and executes it for his exclusive enjoyment.
Exclusive is the operative word there because sometimes they are just too unique, and buyers’ offers reflect the need to demolish and replace that item which was so loved. Improvement assessment isn’t always about the money.
Your home is your castle. You spend a lot of time there or, if not, when you are there you want to enjoy the time you are spending there. It is important that it suits your wants and needs, even the whimsical ones. Take time to determine what you might do to enhance your ownership enjoyment.
What change would make you giggle with joy and pride every day when you see it? A tricked-out modern bathroom? Kitchen with fancy new appliances? French doors instead of sliders? Nickel hardware instead of ‘90s brass? Look around. Think about it. Make your home your home.
We’ve seen kitchen upgrades ranging from $15,000 to $75,000. What improvement costs can your property absorb and still be competitive in your neighborhood when you go to sell? Weigh financial and emotional return on your investment and make your decisions accordingly.
When it comes to choosing professionals to assist you with your Real Estate needs… Experience is Priceless! Jim Valentine, RE/MAX Gold Carson Valley, 775-781-3704. dpwtigers@hotmail.com