- Cost doesn’t equal value. If you’ve converted a bedroom into a home theater for $20,000, it does not mean you have added $20,000 to the value of your home.
- Put your money where buyers will see it. A fresh coat of paint, cleaning your carpets, sprucing up your front door and entry way are examples of good returns on your money. Don’t expect to get the same return on insulation or wiring or even a swimming pool.
- Do not over-improve! The addition of a fifth bedroom when most of the homes in the neighborhood are 3 or 4 bedrooms may not not give you the return you would like. As a guide, use the typical improvements in your area.
- Most quality home improvements cause a home to sell quicker but not necessarily for more money. A timely sale will lessen the carrying costs and stress. Do not underestimate the value of smart improvements.