• Those changes should only be made if the homeowner absolutely loves that location
• They are not concerned about return on investment

I would guess that because of the location, they may only recoup one third of their investment … if that.

Let me take a minute and clarify the word IMPROVEMENT. Replacing windows, shingles, water heaters, furnaces are maintenance enhancements. These types of improvements must be done as things become obsolete. Routine wear and tear need to be addressed on an ongoing basis to retain your base value. Making these improvements will help your home sell but be aware that the return on the investment is minimal.

Cosmetic improvements like paint, wallpaper and carpeting will also help sell a home quicker if they are kept up to date and are not too outlandish in the color palate. If you are looking to make improvements to your home, you should know that the return on investment for these is actually higher.

New kitchens, baths, an outside fireplace, another garage, sunroom or a whole new addition all fit into the category of “let’s call our Realtor before we start design.” When you call your realtor to market your home the toughest words that sometimes have to come out of our mouths are, “You did what??”

That question that follows that reaction is, “Why didn’t you call me?” Yes, a new bath or kitchen is always desirable but many homeowners do not understand that it is the degree of the improvement that truly matters. There is a huge range of dollars that can go into a kitchen or bath.  This is where your realtor, your “trusted advisor”, comes into play. We are here to help you look at comps and determine whether it is a stock kitchen or a custom made kitchen that will give you the most “bang for your buck.” In addition to the neighborhood comps we are in the field each and every day and know what is hot and what is not in terms of trends.

As I pass the home being renovated each day, I recognize that, yes, it looks better and has greater curb appeal. And yes, they are picking up a bonus room and garage. But, in my opinion, for the location, neighborhood and lot they should have sold and moved to a neighborhood where those wanted amenities were built in.

Any major improvements should be talked about with your realtor to make sure that what you are doing is marketable and the return on the investment is justifiable. Many say, “Well, we are not going anywhere and we like the location.” Things change and life is full of twists and turns. Look both ways before taking that IMPROVEMENT step!