Today we won’t get in to too many details about economics. We have covered the fact that the market has been blowing up. There are many reasons why you should care about the value of your house, even if you don’t plan to sell.
But let’s say that down the line, you would be interested in selling your house. The basic principle of ‘buying low, selling high’ should apply to home owners, shouldn’t it? But at the same time, unless you flip houses for a living, when you sell during the booming market, you still need a place to live.
Are you making money as you need to buy also during the ‘high times’ of the market?
That’s why the first tip is to start early.
Start thinking about possibilities of selling your house today. We are not saying you must go through with it but knowing your options in advance will help you make better decisions. Should you get a second mortgage and redecorate?
If you need more space, do you move or build and addition?
Is the roof a worthy investment?
In most cases, the answer will be yes to all. For example, studies shown that a kitchen or bathroom remodel comes back in the biggest ROI (exceeding 90%). Similarly, a new roof or an addition can bring a return of over 80%.
But we do advise you talking with a realtor in your area, because your expectations depend on your particular situation. Simply put, the more time you have to consider your options, the more likely you are to make the right decision.
Small Changes Do a Big Difference
It is funny how even mopping the floor can bring the value up. We are not kidding. Some home owners are quite stubborn n leaving everything as is for authenticity. However, cleaning up raises the value by around 3%.
Or throwing out unnecessary stuff for more space can also be a good investment.
We know how trivial this may sound but, trust me, it adds up. Like 20 starburst spins for free [ ten pat] – it may not seem much, but the possibility of winning a jackpot is exciting, isn’t it?
Well home value increase is your jackpot! You could count upwards of $50,000 just by looking apter your house and preparing early.