BEFORE YOU TAKE THE PLUNGE WITH A FIXER-UPPER, THINK ABOUT RESALE VALUE

Dated: 01/22/2019

Views: 0

BEFORE YOU TAKE THE PLUNGE WITH A FIXER-UPPER, THINK ABOUT RESALE VALUE

We’ve all watched the HGTV programs that show a run-down old house transforming into a dream home. Tackling a big renovation project on an outdated property can indeed pay off big—both with the home of your dreams, and with a return on investment. If resale value is a primary concern, consider these factors as you’re making your fixer-upper plans.

Is the price right?
How much can you invest in a home beyond the sale price while staying in line with the value of homes in the neighborhood? You don’t want to improve a home to the point that it’s worth far more than the norm for the area. You’ll enjoy the property while you’re living there, but if you ever decide to sell, your ROI could be limited by the market value of nearby houses.

Low cost, instant equity
There are a lot of low cost and DIY improvements that will add equity almost immediately, such as rehabbing the landscaping and adding fresh coats of paint. These improvements add value to the property almost instantly. 

What’s worth spending on?
A little elbow grease goes a long way, but there will inevitably be projects that require some serious spending. If you’re concerned with getting a return on your investment, focus your dollars toward the roof, floors, and the home’s exterior. They’re not flashy upgrades, but they’re important for future buyers. On the other hand, luxuries like a swimming pool are unlikely to see any return on investment.

Blog author image

Sandy Hunt

Sandra Hunt Texas Realtor licensed since 2005. Her ability to create innovative marketing solutions and an in-depth understanding of the business has contributed to her growing success in the field. S....

Latest Blog Posts

BEFORE YOU TAKE THE PLUNGE WITH A FIXER-UPPER, THINK ABOUT RESALE VALUE

BEFORE YOU TAKE THE PLUNGE WITH A FIXER-UPPER, THINK ABOUT RESALE VALUEWe’ve all watched the HGTV programs that show a run-down old house transforming into a dream home. Tackling a big

Read More

ABOUT PLANO, TX

Plano is an affluent principal city in North Texas. Most of Plano is located in Collin County with a small portion in Denton County. It has become one of the wealthiest cities in the nation with

Read More

December 2018 Housing Market Update For Kaufman TX

There are 40 homes currently available to purchase in Kaufman. These homes are available for purchase at prices ranging from $71,900 up to $1,098,850.  This is an average list price of $313,091

Read More

Home Design Trends to Watch for in 2018

Home Design Trends to Watch in 2018We frequently get questions from clients who are taking on decorating and remodeling projects and want to ensure their dollars are invested wisely.Which looks will

Read More