SELLER’S SHOULD VERIFY THE NUMBERS BEFORE RENOVATING
During slow housing markets in the past, many seller’s have made money and gained equity by remodeling or renovating their homes, while they waited out the downturn.
Things have changed in 2008. Homeowner’s in this market should carefully run the numbers and focus only on a rate of return, before deciding to put more money into their homes.
Today’s steep price declines and the record number of vacant foreclosed property mean that it may take years to recoop further investment in your home.
If you are considering a renovation, check out the Cost versus Value Report, just published by Remodeling magazine. You can read about the average costs to complete a variety of jobs and the expected payoff, after the work is completed.
Thank you for visiting Why6Percent.com. Have a great weekend and happy home selling!!