The Truth About Renovations
One of the most difficult messages to deliver as a Realtor is telling your client that their recent renovations will not add value to their home.
First lets clear the air, renovations can provide your home with a profitable return on your investment.
There are multiple scenarios that justify updating your home.
The important factors to consider prior to making updates is to understand what you will get in return.
A good place to start is with asking the question: why?
Why are you considering making the updates?
If you are updating your home because you plan on enjoying the updates while you are in the home and it has no impact on your hopes to drive up the value of the home, then you do not need to justify your decision.
As long as you are aware that some updates will not add monetary value to the home when you go to sell, carry on and enjoy.
However, if you are making updates to the home specifically to make a profit then it would be best to talk to several experts prior to beginning the work.
Ultimately, all decisions regarding your home are yours.
As a professional I make my clients aware as best as possible what the current realities are governing renovations from a return on investment standpoint.
I am not in the business of telling my client not to spend money on their home if their reasons for doing so are purely for their personal enjoyment.
So long as you are given the facts up front and know what to expect back out of renovations when it is time to sell, the rest is up to you.
Renovating for profit? Here is a short list of renovations that will stretch your dollar the furthest.