Avoid big losses with common homeowner mistakes
There are two ways to approach making big improvements to your home.
The first one is for your enjoyment and comfort. If this is your goal, and you are not concerned about getting a return on your investment, then you can skip today’s email.
The second approach is for everyone who is concerned about seeing some ROI on their home improvements.
A problem we see with homeowner is they have made improvements without considering the market.
For example, you’ve added square footage of your home that makes it significantly larger than the other homes in the neighborhood.
You’ve spent a lot of money making improvements that the market is not willing to pay for.
Either one of these scenarios will leave you holding the bag when it comes time to sell your home.
Here’s what I suggest if you have home improvement plans in the works.
- Even if you have no plans to sell your home, give us a call. Gretchen and I would be glad to talk to you about your plans and even stop by and see what you have in mind. We will be happy to give you our opinion and advice on how you can best achieve your goals.
- Spend some time researching the cost of common home improvements and their average return.
I know what you are thinking about #2. Where am I going to find this information and is it current?
This is where we can help you.
Each year, the National Association of Realtors and Remodeling Magazine do an exhaustive study on the most common repairs across the United States.
It’s called the Cost vs Value Report. And, they even have one for Nashville. It covers 29 common repairs and improvements starting at a cost of approximately $1,200.
If you want a copy of the Nashville report, just hit reply and let me know.
And if you currently live outside of the Nashville area, I can probably find one for your Metro area too.
You’ll be surprised at what you will find.
The Daily Deal in Nashville is a beautiful Tudor style home in Inglewood [East Nashville] that is ready to move in and is listed for less than $400,000.